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Customer Testimonial Highlights Why Mutual Benefits Assurance Stands Out

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BY NKECHI NAECHE-ESEZOBOR—In a time when confidence in insurance is steadily growing, a satisfied customer of Mutual Benefits Assurance Plc is sharing his experience to encourage more Nigerians to embrace the value of protection and peace of mind.

Mr. Abdelhamid Abdelrahman of RAP Building Solutions Ltd recently applauded the company for its swift claims settlement and attentive customer service, describing his journey as clear evidence that insurance truly works when managed by a dependable provider.

Abdelrahman explained that his decision to insure his vehicles with the company was influenced by its strong reputation and visible presence within his business environment in Lagos. Easy access to one of its offices also gave him added confidence, allowing for seamless interaction and support whenever needed. Four years on, he remains a loyal customer.

He said: “I had my doubts at some point, thinking that because they are one of the oldest insurance companies, perhaps their service might not be as efficient. But when I had a vehicle claim in 2023, it was processed in no time.

He added that subsequent claims involving other vehicles in his fleet were handled just as efficiently, further strengthening his confidence in the company.

“Since then, I have felt that whenever I have a vehicle, I will always subscribe to their packages and services. Mutual Benefits may be one of the oldest, but they are still one of the most responsive insurance companies in Nigeria. Their response to customers’ questions and feedback is very fast. I have no regrets partnering with them,” he stated.

Abdelrahman also used the opportunity to encourage Nigerians who remain sceptical about insurance to reconsider their views.

“Many people believe insurance does not work in Nigeria, but it does. When the time comes to make a claim and it is handled smoothly, then you know insurance truly works,” he said.

Industry experts have repeatedly noted that prompt claims settlement remains one of the strongest indicators of trust and credibility in the insurance sector. According to analysts, customers are more likely to retain policies, renew coverage and recommend insurers when claims are paid quickly and transparently.

They explain that efficient claims management not only provides financial relief during difficult times but also helps improve public perception of insurance as a dependable financial safety net. In markets where scepticism exists, real customer experiences and timely claims payments often play a critical role in driving adoption.

Mutual Benefits Assurance Plc has consistently positioned prompt claims settlement as a core part of its customer promise, with billions of naira paid out monthly across life and general insurance categories.

As economic uncertainties continue to heighten the need for financial protection, stakeholders say insurers that deliver swift and seamless claims experiences are likely to enjoy stronger customer loyalty and wider market acceptance.

The post Customer Testimonial Highlights Why Mutual Benefits Assurance Stands Out appeared first on Business Today NG.

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Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

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BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

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FG debunks claims of plans to introduce telecoms, fuel taxes

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The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

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Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

READ ALSO: NRS launches Rev360 to ease tax compliance

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.

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