Business
Enugu Governor Hails DSS Over Major Criminal Arrests
The Governor of Enugu State, Dr. Peter Mbah, has lauded operatives of the Department of State Services (DSS) for apprehending notorious kidnappers and arms traffickers within the state.
He made the commendation during a visit to the Agency’s State Headquarters in Enugu.
Governor Mbah expressed particular satisfaction over the capture of a high-profile gang leader, responsible for a string of attacks on security personnel and multiple kidnapping-for-ransom incidents across Enugu and surrounding areas. He noted that residents can finally experience relief from the gang’s reign of terror across the state and the broader Southeast region. He also voiced concern over how some individuals could forsake basic human decency for such heinous acts, emphasizing that the full force of the law will be brought against those responsible.
He commended the DSS for their professionalism, discipline, and dedication to ensuring a peaceful Easter period, while urging the command to sustain this level of vigilance, which he described as a fundamental responsibility of government.
The people of Enugu State expressed appreciation for the tranquility experienced, particularly during the Easter festivities, made possible through the efforts of the DSS and other security agencies operating in the state.
While expressing optimism that continued security efforts would eliminate criminal activities, the Governor reaffirmed his commitment to positioning Enugu as the safest destination for tourism, commerce, and residency.
The post Enugu Governor Hails DSS Over Major Criminal Arrests appeared first on Business Today NG.
Coronation Insurance Plc has announced the launch of MotorMax, an innovative motor insurance policy designed to transform the Nigerian motor insurance landscape by moving motorists beyond basic third-party compliance to affordable, comprehensive vehicle protection.
For decades, motor insurance adoption in Nigeria has largely been limited to mandatory third-party coverage. MotorMaxaddresses this gap by offering motorists robust, accessible protection for their own vehicles, with plans starting from as low as ₦25,000.
MotorMax introduces a flexible, tiered structure—Bronze, Silver, and Gold—tailored to meet the diverse needs and budgets of Nigerian drivers, from urban commuters to long-distance travellers and owners of high-value vehicles.
The MotorMax Bronze plan serves as an entry-level upgrade from basic third-party insurance. Priced at ₦25,000 annually, it offers vehicle repair coverage of up to ₦500,000; third-party vehicle damage coverage of up to ₦3,000,000; unlimited (but reasonable) compensation for third-party injury or death; towing services up to ₦5,000; emergency medical expense coverage up to ₦10,000; and a 10% policy excess.
The MotorMax Silver plan, available at ₦45,000 annually, enhances protection with vehicle repair coverage up to ₦750,000, increased towing benefits of up to ₦15,000 (intra-state) and ₦25,000 (inter-state), and emergency medical coverage up to ₦15,000.
At the premium tier, MotorMax Gold offers motorists near-comprehensive benefits at a significantly lower cost than traditional comprehensive insurance. Priced at ₦50,000 annually, it includes vehicle repair coverage up to ₦1,000,000; third-party vehicle damage coverage up to ₦3,000,000; unlimited liability for third-party injury or death; towing services up to ₦15,000 (intra-state) and ₦25,000 (inter-state); emergency medical coverage up to ₦20,000; and a 10% policy excess.
MotorMax is specifically designed for motorists currently on third-party policies who seek enhanced protection without the financial burden of full comprehensive insurance. By bridging the gap between compliance and comprehensive cover, the product empowers drivers with greater peace of mind on every journey.
Speaking on the launch, Olamide Olajolo, MD/CEO of Coronation Insurance Plc, said:
“MotorMax represents our commitment to reimagining insurance for the everyday Nigerian. We understand that many motorists want more protection than third-party cover but are constrained by cost. With MotorMax, we are providing a practical, affordable solution that delivers meaningful coverage and peace of mind. This is a significant step in deepening insurance penetration and ensuring more Nigerians are truly protected on the road.”
The launch of MotorMax underscores Coronation Group’s broader mission to deliver transformational solutions that address real-life challenges across Africa. By raising the standard for motor insurance offerings, Coronation Insurance continues to position itself as a customer-focused innovator in the industry.
Motorists can purchase MotorMax by emailing digitalsales@coronationinsurance.com.ng or calling 02-012275475 or 02-012275476.
The post Coronation Insurance Redefines Motor Insurance in Nigeria with Launch of MotorMax appeared first on Business Today NG.
BY NKECHI NAECHE-ESEZOBOR—The Naira weakened to ₦1,389 per dollar, down from ₦1,382.75/$ recorded before the Easter break, amid continued pressure in Nigeria’s foreign exchange market.
This contained in a notice posted on the official website of Central Bank of Nigeria,( CBN), that intraday trading saw the local currency fluctuate between ₦1,381/$ and ₦1,390/$, with an average rate of ₦1,386.3/$.
Meanwhile, the country’s external reserves fell by about $850 million over three weeks, declining to $49.18 billion between March 11 and April 2, 2026, highlighting tightening liquidity in the forex market.
Activity in the Non-Deliverable Forward (NFEM) interbank market recorded a turnover of ₦48.66 billion across 71 deals.
The post Naira Slides to ₦1,389/$ as External Reserves Fall to $49.18bn appeared first on Business Today NG.
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