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Insurance Industry Needs Technology for Transformation-Oyeneyin

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Kola Oyeneyin, CEO, Venia Group, owners of Myautogenius.com
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Kola Oyeneyin, CEO, Venia Group, owners of insurance revolutionary platform in Nigeria called Myautogenius.com is a speaker and trainer on several platforms and on multiple topics including entrepreneurship, business start-up, career, technology/social media, social and economic Issues, and so on.
Oyeneyin is also a passionate social change advocate and founder/convener of sleeves Up Youth Foundation, a youth advocacy platform for proactive action on good governance, advocacy, education, healthcare and job/wealth creation in Nigeria,
He spoke to peter ugwu on the visions of Myautogenius.com for the Nigerian Insurance sector.

Myautogenius.com
It is a platform where Nigerians can finally browse, click and insure in less than five minutes. You go on the platform, search and buy the right insurance policy for car in less than five minutes and print your policy by yourself.
We will do the rest for you. Of course, we will upload your details on Nigerian Insurance Database (NID) platform to show that you are fully insured; police will not harass you.
So, it is a one-stop shop that from your mobile, desktop and at the comfort of your home or office, you can actually buy insurance.
For example, with 15.5 million cars in Lagos alone and over 14% of cars on Nigerian roads uninsured or driving with fake insurance policies, there has always been a gap to access an insurance intermediary channel that will provide the advantage of convenience, speed and authentic insurance covers in real-time.
We are here to bridge that gap and even do more for the sector’s growth.

Insurance Acceptability and Patronage in Nigeria
We are hoping that the same way internet is penetrating Nigeria, insurance will begin to receive massive acceptability among Nigerians.
About three years ago there were only 10million Nigerians online, today the number has jumped to 65 million.
So, as internet usage grows, because the mobile has become the order of the day, people ability to access anything online continues to increase, so why not insurance.
The idea is that our products and service will be available online for Nigerians to make decisions on what package is best for them and at what price they want it, from which insurance company.

The Three Component Clients
Basically, there are three clients here: the customers/users, the players in the industry and the regulator.
For the customers we want to provide them three things: convenience, access and price. We want to make sure they are able to access insurance policies anytime; they are conveniently doing it and at the right price.
For the insurance companies, we are bringing them a new market. A market of 13.5 million Nigerians who are uninsured and a market of N58 billion lost to fake insurance licence providers.
So, that is what we are bringing a change of attitude, process, access and gain to the players too. To the regulators, we are bringing to them market intelligent.
This can be done through data that will help them shape the industry. This is enables intelligent decisions and policies. We are hoping that as the different stakeholders benefit, it will begin to transform the industry in a short period of time.

#OneGuyLikeThat Message to Tackle Fake Insurance Licensing
Absolutely, there are two things we are tackling. The concept of #OneGuyLikeThat is about a person who sells fake things. It could be fake shoes, phones, in fact, anything.
And when you are asked, ‘where did you buy it from’ the response is usually, ‘Hey, from #OneGuyLikeThat.
When you miss your way and if asked how were able to trace the route, the answer is usually, ‘Well, #OneGuyLikeThat directed me’. Now, we are simply saying that, we are the #OriginalGuys that are replacing the #OneGuyLikeThat.
We are the #OneGeniusLikeThat who is replacing the #OneGuyLikeThat. We are hopeful that Nigerians will begin to believe insurance works and at the right price. So, that is the idea: to change the negative concept associated with the #OneGuyLikeThat to a positive side through a good-guy-like-that. As we provide good service, the opinion will begin to change.
 As time goes one, we will begin to appeal to those who are completely uninsured; that is those who don’t regard insurance as something meant for them.
They believe insurance do not work, full of fakes or it is meant for a particular class of people. With time, such opinion will be overturned.

Buying Insurance In five Minutes, How Possible?
It is very simple. You go on my Autogenius.com and search for code. Put in your email address, and telephone number.
Through a short message system (SMS), there will be a confirmation that you have come on our platform.
Then, you look at the different products; search for the one that suites you. The next thing is for you to put in your car details; you will see the list of insurance companies that provide the services, you can compare their services and features.
After that, select your choice, use either your MasterCard, Verve, Myautogenuis scratch card or mobile money to pay. Instantly, you will print your certificate.

Lack of Confidence in Insurance Industry
This is part of the reasons we launched the first online claim reporting system in Nigeria. Once you have a claim to make, you go on our platform and click on report a claim.
The moment such report is made, automatically, you can see all the cars you bought on MyautoGenius, pick the one you want and it pulls your data, instantly.
The next thing is to type-in what transpired. May be you hit somebody or reverse is the case. As you send it, we immediately generate a copy of the claim report, the insurance company gets a copy of the report, simultaneously, Myautogenuis.com begins to work on your behalf.

Integrating Government Agencies Such As FRSC, Police, VIO, etc
There is a platform called the Nigerian Insurance Database (NID). The Nigeria Police Force, the Federal Road Safety Commission (FRSC), and the Vehicle Inspection Officers (VIO), they get their feedback from this database.
The moment we upload on the NID platform, it gets circulated to those agencies integrated on the platform.
What we are guaranteeing users is that the moment you click PAY on our platform, instantly, it uploads on NID on your behalf. Currently, that takes about a-week in the industry (offline).

Myautogenius Resilience
We are resilient enough to be able to handle the Nigerian market. So, hundred and seventy million (170mn) people hitting it at the same time, it will not crash.

Critical Areas for Legislation or Policy Repealing
Well, we can give vivid answer to that in a year time. That is, after we have been able to look at the date critically.
There is a difference embarking on market research, surveys, and executing the real work. We have been able to get into the space. We will understand the industry better: how biased are buyers in their decision making process.
That data will be useful to us. In a year time, when we shall be launching other insurance programmes, because Myautogenius is the first, we are going to launch other products for life assurance, travel, home insurance; then, we can assess and be able to the industry adequately. It is a long process and we are launching in Ghana, Tanzania and Kenya.

Working with Top Six Insurance Companies in Nigeria
There are basically two reasons the industry players are coming together now, unlike before they chose to work independently, enjoying their gains and nursing the wounds separately. They are tired of the fake guys.
 They cannot defeat them. So, if they can see anybody that can help them salvage the market from the hands of the fakers, they will rally around the person.
So, if your enemy is my enemy we are likely to be form alliance to chase the common enemy away. Also, there is an opportunity. It is an opportunity to add value to Nigerians.
We see a real opportunity to add value based on insurance packages they have. We are in a 21th Century, it is a good time we begin to add this value across board. There is no better time to do it than now. 

Myautogenius Point Card
Well, some people have asked if we are thinking of launching a card system to aid the processes. The truth is that we are not launching a premium system.
Like I said, Myautogenius.com point-card; it is used generally to earn points across different service providers.
For instance, Oando marketing is providing Oando Auto Care (OAC). We are also launching, car-pass; when you buy car you earn point or buy fuel from Oando you earn point. Then, you can decide to do whatever you like with your points.

Impact of Internet Penetration
Internet penetration as a factor here, it cannot be ruled out. The more broadband penetrates Nigeria, the better we are closing the gap.
Like I said, about three years ago, only twelve million Nigerians were online, today the figure has risen to sixty-five million. By next year it can even get to 85 million. 
We are hoping that in the nearest future we would have closed the gap, following the fact that, there are more companies and industries leveraging IT to broaden their scopes.


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Leo Stan Ekeh: A “Rare Avis”, an Unconquerable Entrepreneur

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By Tim Akano

Leo Stan Ekeh (LSE) is an extraordinary human being. He is extremely hardworking, hugely brave, and massively intelligent. He is a shrewd businessman but with a cathedral-size heart of butterfly

Leo Stan Ekeh: A "Rare Avis", an Unconquerable Entrepreneur

Leo Stan Ekeh

I’m a product of LSE’s generosity. But not only me, I am close enough to know. We are uncountable.

I was always with him after office hours in his office twenty years ago when he was constructing a church in his place of birth. He was so committed to details and beauty that when the church was roofed and he went for inspection and discovered some misalignment, he instructed the contractor to remove the roof and redo it, without minding the extra cost coming from his pocket.

There was this physically challenged fellow that LSE bought a car for, including a driver to make life easier for her.

During one of his birthday celebrations, he told me, Tim, I am not inviting my friends for any birthday party this year, all the money I would have used in buying expensive wine, I am donating everything to charity

LSE & I

He actually looked for me when I started New Horizons. He read my interview in the Vanguard news paper and asked his staff to look for me.

Prayer:
May each of us receive a telephone call before the end of 2025 that will change our life’s trajectory for good for ever in Jesus name, Amen.

I did.!

Our conversation on that fateful Friday went like this:

LSE: Tim, I read your interview in the newspaper. I would like us to meet.

Tim: You are our LEADER in the Technology ecosystem, Sir.
I can come to your house tomorrow Saturday morning for a breakfast.

LSE: Tim, that’s good, I will be expecting you by 8am tomorrow in my house.

By 8am the following day, I was in his massive, intimidating house.
As I entered the premises I said a simple prayer: The God Almighty who is blessing LSE, please Daddy God be kind to me also in my entrepreneurship journey Amen.

That day the breakfast meeting went well. He wanted to see the man behind the ambitious vision of transforming the ICT education in Nigeria.

He saw tomorrow!

1 LSE First Intervention: Two years after I started my company, New Horizons, I ran out of cash, even to pay salary was a prayer item every 30th of the month. That was May, 2007 it remained just 72 hours for Heaven to fall on my head, metaphorically speaking, that is!

I needed N10M to stop HEAVEN FROM CRASHING ON MY HEAD!
Banks in Nigeria are irrelevant to Start-ups, except and until you START WALKING, Banks will not come to your assistance in Nigeria.
It is O.Y.O (On Your Own) for every Start-up. If you don’t have God 100% on your side, don’t dabble into entrepreneurship in Nigeria!

This is why over 80% of Start-ups failed in Nigeria. In America, it is about 50%.

LSE was in Abuja on this particular Thursday. I called him and requested to see him. He told me to come.

Our conversation went like this:

LSE: Tim, I know you are keeping well.

Tim: My chairman, I am strong in faith, but in reality, heaven is hot on my side o! I need help, Chairman.

LSE: What is the matter, Tim?
Tim: I need N10M soft loan to keep afloat. It is urgent, critical and time- bound.

LSE ok, Tim, see me on Monday (that meeting took place on a Thursday).

Tim: My chairman, I am not exaggerating the criticality of my situation. by Monday it would be too late because Heaven would crash on my head in another 72 hours without the N10M! And it would be all over.

LSE adjusted himself, he breathed in , he looked me straight in the eyes. I wouldn’t know what LSE saw in my eyes that day.

But he stood up, went to the inner room and he came out with his cheque book. He gave me an Access Bank cheque for N10M, which I later refunded 3 months later without interest.

I survived, heaven didn’t fall that day, glory be to God and thanks to LSE.

LSE intervention 2:

This time we had grown, having survived the ABIKU YEARS (The first 5 years of Start-up are the ABIKU YEARS, years of premature, sudden death. If you survive the first 5 years, your chances of living to celebrate your 20 years in business are bright). We did, all gratitude to God.

I got a business that required huge capital to execute- very big money, which was beyond my capacity.

I went to my destiny- helper again. He is never tired of seeing me. He picks my calls on the first ring. But I don’t abuse the access too. No frivolous conversations. No irrelevant calls. Every call is about matter and mission critical

This particular day LSE was looking extremely tired, having over flogged his body.

He told me he had been sleeping in the office for about 3 days, busy putting his papers together to enable him close a massive business deal, which he eventually got, after fighting like a lion whose cub was taken by a lone leopard!

LSE overwhelmed every opposition. He fought like Mohammed Alli, the world’s greatest boxer of all time. LSE won.
And that changed everything for him, too, forever. Fortune favours the Brave

Our conversation that day went like this:

LSE: Tim, congrats you are doing well, I can see. Indeed I instructed all my staff to make sure they read any article you published (“I felt flattered”).

Tim: Chairman, I need your help, KONGA is not ready to give me the products I needed on credit and I don’t have cash to pay and the client will not pay me until after 9 months.

Tough one, indeed.

LSE: Tim, I will be honest with you, there is no way KONGA would give you products worth N500M (10 years ago money!) on credit.

Indeed, we held a meeting on Monday over your matter, the resolution of the Zinox Group is that you must look for cash before you can get the products. Let me tell you, my staff made me to sign-off on our resolution that as the Chairman of Zinox , I, LSE will not go behind to do the opposite of what we all agreed to, and I signed. Tim, I am sorry, my hands are tied!

As of that time, some of the young people LSE helped disappointed him badly. So bad, some souls are ungrateful.

Tim: Chairman, I know some of the people you helped even went to the extent of wrongfully blackmailing you in the media. I know that for a fact.

But Chairman, I am different. I am Tim Akano, I won’t disappoint you.
I will remain eternally grateful if you can still think out- of -the box and help me out.

I added: Chairman, you recall you were the one who looked for me that you would give me a helping hand in life.
I think my last statement touched him.
LSE Tim, I will give you my personal cheque. Here is the cheque for you, take it to KONGA and pay for your goods to meet your deadline.

Tim On getting to KONGA, from my steps and tone, the staff knew something positive had happened.
I confidently presented my cheque to Loretta & Co, the lady managing our account in KONGA then
They were shell shocked that God pulled it through for me another time, using Leo Stan Ekeh.

There were many more positive interventions, which I will reserve for my memoir.

Lessons: The reason behind the rise and rise of Leo Stan Ekeh (LSE) has to do partly because of his massive generosity, most of them are done silently.
Yes, LSE is a shrewd businessman, but he has a heart of a butterfly.

2 LSE is unconquerable and himself and his lineage will remain so because of several lives he has impacted positively

3 We are all products of people’s generosity. No one is a self-made man. In my own corner, through the TIM AKANO FOUNDATION, I am giving back in thousands folds all the kindness I am enjoying from people like LSE & others. I’m not withholding any kindness from people who need it when it’s within my capacity. God saw my heart, too, that when he must have helped me to stand, I will light thousands of candles.

It was William Shakespeare who admonished his followers to tell him all the good things they wanted to tell him while he was still alive because tributes written in beautiful prose means nothing to a dead person.

I congratulate LSE children, they have a great father in and his legendary generosity will always speak for them up to the 4th generation., as the Holy Bible said. LSE children should be proud of their father, he is a Lion, an Eagle and a butterfly, (LEB) all together at the same time.

@LSE: Sir, if you manage to read this short public appreciation, which I was inspired to write in a wedding event (the couple is taking over one hour to come out, instead of joining people who are anxious, I decided to use my idle time to pay you this tribute today), I want you to feel proud of yourself; what you have achieved will take an average person 10 lifetimes to achieve.

Your positive numerous interventions in my entrepreneurship journey have germinated and I am also touching lives- like you- in thousands across Africa, not only in Nigeria, especially with regards to Youth Empowerment.

I am eternally grateful, my chairman, my destiny-helper.

My prayer for you my Chairman, LSE: The Lion, the Eagle, the Butterfly (LEB) is for God to keep you continuously in sound, divine health, peace and happiness- that you will still remain strong at 120 years of age like the Biblical Moses who miraculously escaped physical depreciation in his eyes, strength and mental magnitude.🙏

Gratitude!
Gratitude!!
Gratitude!!!

[email protected]


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NITDA Wins Triple SERVICOM Honours for Citizen-Centred Service Delivery

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National Information Technology Development Agency (NITDA) has clinched three prestigious Service Compact with All Nigerians (SERVICOM) awards at the annual Ministry, Departments and Agencies (MDAs) Awards ceremony, earning acclaim for its outstanding citizen-centred service delivery.

NITDA Wins Triple SERVICOM Honours for Citizen-Centred Service Delivery

NITDA

The honours spotlight NITDA’s leadership in digital transformation and efficient public service, as evaluated by SERVICOM on key benchmarks of timeliness, transparency, and customer satisfaction.

NITDA Director General, Kashifu Inuwa Abdullahi, received a personal commendation plaque during the event, recognising his unwavering support and commitment to prioritising citizens in agency operations.

The agency also secured a Special Recognition Award from the SERVICOM Office, celebrating its sustained initiatives to bridge government and citizens through high-quality service delivery.

In a further mark of excellence, NITDA was named the 2nd Best Performing Public Service Unit (PSU) Team B within the competitive MDAs category.

SERVICOM Framework Drives Public Service Reforms

SERVICOM, established to enhance service quality across Nigerian public institutions, assesses MDAs based on rigorous standards that ensure responsiveness to public needs.

NITDA’s triple honours reflect its strategic focus on leveraging technology to streamline services, foster accountability, and promote inclusive digital governance.

The awards align with broader federal efforts to reposition public service delivery amid Nigeria’s push for digital economy growth.

NITDA’s Digital Leadership Under Spotlight
Since its establishment, NITDA has spearheaded national ICT policies, infrastructure development, and capacity building, positioning Nigeria as an emerging digital hub.

The agency’s SERVICOM success underscores effective implementation of the National Digital Economy Policy and Strategy (2020-2030), enhancing e-government services and citizen engagement.

Kashifu Inuwa Abdullahi’s leadership has been pivotal in initiatives like the National Centre for Artificial Intelligence and Robotics, alongside partnerships driving broadband expansion and cybersecurity.

These recognitions come amid NITDA’s ongoing campaigns for data localisation, digital skills training, and startup ecosystem support.


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FCCPC Forces Ikeja Electric Into Compliance, Unseals Headquarters After Rights Breach

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Federal Competition and Consumer Protection Commission (FCCPC) has secured enforceable compliance from Ikeja Electric Plc, leading to the unsealing of the electricity distributor’s headquarters after regulatory intervention over consumer rights violations.

FCCPC Forces Ikeja Electric Into Compliance, Unseals Headquarters After Rights Breach

Ikeja Electric

The Commission had sealed the company’s headquarters on December 11, 2025, following its failure to comply with a directive of the Nigerian Electricity Regulatory Commission (NERC) to unbundle a Maximum Demand account into 20 individual accounts for a customer who had remained without electricity for more than two and a half years.

Following the enforcement action, Ikeja Electric entered into a binding undertaking with the FCCPC, committing to resolve all consumer complaints referred to it by the Commission within agreed timelines.

The FCCPC warned that any breach of the undertaking would trigger renewed and escalated enforcement under the Federal Competition and Consumer Protection Act (FCCPA).

The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the intervention underscores the Commission’s resolve to protect consumers and enforce regulatory decisions.

“Our responsibility is to ensure that consumers are treated fairly and that service providers comply with lawful decisions and directives. Enforcement is not an end in itself. Where compliance is achieved and credible commitments are made, the Commission will respond appropriately,” Bello said.

He added that the resolution reflects a firm but balanced regulatory approach.

“We intervene decisively where consumer harm persists, and we de-escalate where enforceable compliance is secured. What remains constant is our duty to protect consumers and uphold regulatory accountability,” he said.

The FCCPC said the outcome sends a clear signal that consumer rights violations will attract decisive regulatory action, while companies that demonstrate genuine compliance will receive proportionate responses.


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