Business
New Premium Rates For Motor Insurance Adversely Affecting Manufacturers – MAN

The Manufacturers Association of Nigeria (MAN) says that the new premium rates for motor insurance is seriously affecting its member companies.
The new premium rates for motor insurance in the country was introduced by the National Insurance Commission (NAICOM) in December 2022, but took effect from January 1, 2023.
NAICOM had in a circular dated December 22, 2022, signed by its Director, Policy and Regulation, Dr. L.M. Akah, and addressed to all insurance institutions stated that the upward adjustment of rate was pursuant to the regulator’s exercise of its function of approving rates of insurance premium under the Section 7 of NAICOM Act 1997, and other extant laws.
Under the new template for motor insurance premium, third party insurance policies inclusive of ECOWAS brown card (EBC) had been reviewed.
The commission noted that effective January premium on private motor shall be N15, 000, while Third Party Property Damage (TPPD) which is the limit of claims an insured can enjoy on the policy shall be N3, 000.
Also, under the private category, Own Goods shall henceforth attract a new premium of N20,000 and TPPD of N5, 000 while staff bus will be subjected to a new premium of N20, 000, and TPPD of N3, 000.
For the commercial category, the insurance regulator stated that trucks/general cartage shall attract N100, 000 premium and TPPD of N5, 000.
Also, special type insurance will attract N20,000 premium and TPPD of N3,000 while tricycle will attract N3,000 premium rate and N2,000 in TPPD. Motorcycle will also pay N2, 000 premium and N1, 000 as TPPD.
The commission further stated that comprehensive motor insurance policy premium rate shall not be less than five per cent of the sum insured after all rebates/discounts.
The commission also warned that failure by insurance firms to comply with the directive shall attract appropriate regulatory sanction.
Seven months down the lane, Segun Ajayi-Kadir, the Director-General of MAN , said that the exorbitant new premium rates for motor insurance is taking a toll on manufacturing companies, especially the operators in Motor Vehicle & Miscellaneous Assembly sectoral group .
He noted that in the second quarter of 2023, the sector recorded an index score of 46.7, showing that the operators exhibited further loss of confidence as they fell below the 50-point benchmark in the period under review.
Business
DR Congo: Heineken Forced to Withdraw Staff as Rebels Seize Facilities

Heineken has lost operational control and withdrawn its staff from facilities in eastern Democratic Republic of Congo (DRC), CNN on Saturday quoted that the Dutch brewer announced on Friday.
In March, the company had suspended operations in three eastern cities, citing safety concerns after breweries were damaged and depots raided during clashes between government forces and rebels.
On Friday, Heineken said the situation had worsened. Armed groups have taken control of its sites in Bukavu and Goma—eastern Congo’s largest cities—as well as surrounding areas.
“The conditions required to operate responsibly and safely are no longer present and as of 12th June 2025, we have lost operational control,” it said in a statement.
Heineken’s local unit, Bralima, continues to operate in parts of the country not affected by the fighting. The company said it is monitoring developments closely.
Heineken owns four breweries in the DRC, producing its namesake beer along with local brands such as Primus. It previously said its Bukavu facilities employed about 1,000 people directly and indirectly.
“Our top priority is the safety and wellbeing of our employees,” Friday’s statement read.
Reuters also reported, “We have withdrawn all remaining staff from these sites and we have continued to support them financially.”
Nearly 14 per cent of Heineken’s total revenue comes from its Middle East and Africa operations, with Congo—home to over 100 million people—a significant market.
Before the suspension, operations in Goma, Bukavu, and Uvira represented roughly one-third of Heineken’s business in the country.
Conflict in eastern Congo has intensified in 2025, with the M23 rebel group making major territorial gains, sparking fears of broader regional instability.
Congo accuses Rwanda of backing M23 with troops and weapons—allegations Rwanda has consistently denied.
Business
MTN , Airtel , Glo Begin USSD Direct Charges from Today
The new billing model would allow mobile network operators to charge customers directly for USSD sessions, with charges deducted from airtime balance at N6.98 per 120 seconds.

Telecom subscribers in Nigeria will now be charged directly by their mobile network operators for Unstructured Supplementary Service Data (USSD) services, starting Wednesday, June 18, 2025.
This was disclosed by Mr Gbenga Adebayo, the Chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), and the Publicity Secretary, Mr Damian Udeh.
Adebayo said that the change is in line with the Nigerian Communications Commission’s (NCC) determination of USSD pricing and services, developed in collaboration with the Central Bank of Nigeria (CBN) and other stakeholders.
” The new billing model would allow mobile network operators to charge customers directly for USSD sessions, with charges deducted from airtime balance at N6.98 per 120 seconds,” he said.
Business
CAC unveils new service fees starting August 1
For companies, notable revisions showed that the voluntary striking-off fee has been raised from N25,000 (for small companies) to N50,000, and N100,000 for public entities.

The Corporate Affairs Commission (CAc) on Tuesday, announces an increments for its service fees review certain service fees effective the 1st day of August 2025.
In a statement , the Commission said that the new fees are a reflection of the current economic conditions and rising operational expenses.
The CAC added that the new development is expected to have implications for business owners, legal practitioners, compliance officers, and stakeholders engaging with the corporate registry for post-incorporation filings and regulatory services..
Said CAC: ” the reviewed fee structure affects services offered to companies, limited partnerships, business names, and incorporated trustees.
For companies, notable revisions showed that the voluntary striking-off fee has been raised from N25,000 (for small companies) to N50,000, and N100,000 for public entities.
Relisting of a Company now costs N50,000 for LTD/GTE and N100,000 for public companies.
Due Diligence Search (Self-Service) has been fixed at N50,000 across all categories.
The commission said the request for an extension of time to hold the annual general meeting will now cost N100,000 for public companies, and N50,000 for others.
Historical Search Reports: Depending on the type, public users will now pay N20,000 to N30,000 per request.Other charges include N25,000 for restriction of the director’s residential address and N5,000 per certified true copy of documents or extracts.Under Limited Partnerships, the updated fees are as follows voluntary Striking Off and Relisting: N25,000, letter of good standing: N10,000, Registration and CTC of Documents: N30,000, Change of Name: N10,000.
For Business Names, the structure reflects modest increments of N10, 000 for voluntary striking off, relisting: N25,000, application for cessation N10,000, CTC of Documents/Extract: N5,000 each, restriction of Proprietor’s Address: N25,000.
The commission stated that name reservations across the board remain at N1,000 while name reservations for restricted words cost N5,000.”
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