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PLABOC President Call for a Stronger Business Security in the State

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Amb. Kim Musa Ndoh, the elected president of Plateau Business Owners Council (PLABOC)

has called for stronger business security in Plateau State

The unfortunate fire incident that occurred at Terminus Market, Jos, on Saturday, 14 March 2026, which destroyed several shops and goods worth millions of naira, remains a painful reminder of the vulnerability of our business communities. While we are grateful that no lives were lost, the economic losses suffered by affected traders cannot be overlooked.

Several months after the incident, the business community is still awaiting the outcome of investigations into the cause of the fire. Understanding what happened is essential not only to provide answers to affected traders but also to help prevent similar incidents in the future.

On behalf of the Plateau State Business Owners Council (PLABOC), I extend my heartfelt sympathy to all businesses and families affected by the unfortunate incident. We also commend the emergency responders whose timely intervention helped contain the fire and prevented further destruction.

As the umbrella body representing business owners across Plateau State, PLABOC believes that this unfortunate event should serve as a catalyst for strengthening safety, security, and resilience within our commercial centres.

We commend the Federal Government’s initiative, announced by President Bola Ahmed Tinubu, to deploy over 5,000 AI-enabled surveillance cameras across Plateau State as part of efforts to strengthen security. This is a commendable step toward creating a safer environment for citizens and businesses alike.

However, we respectfully appeal to the Plateau State Government to ensure that this surveillance initiative gives priority attention to Business District Centres (BDCs), major markets, shopping plazas, industrial layouts, commercial streets, and other key business hubs across the State. These locations are the backbone of Plateau’s economy and deserve enhanced protection through modern surveillance infrastructure.

Strategically installed surveillance cameras can:

  • Support rapid emergency response.
  • Assist security agencies in identifying the causes of incidents.
  • Deter criminal activities, including theft, vandalism, and arson.
  • Improve investor confidence.
  • Enhance the safety of traders, customers, and business owners.

In addition to surveillance technology, PLABOC recommends:

  • Installation of fire hydrants and firefighting equipment in major markets.
  • Regular electrical safety inspections in commercial areas.
  • Fire safety awareness and emergency response training for traders.
  • Improved access routes for emergency response vehicles.
  • Promotion of affordable business insurance for traders and SMEs.

A secure business environment is fundamental to economic growth. Protecting our markets and commercial centres is not only a security priority but also an investment in productivity, employment, and sustainable development.

PLABOC remains committed to working closely with the Plateau State Government, security agencies, and other stakeholders to develop practical solutions that will strengthen the business environment and protect investments across Plateau State.

Together, let us build a safer, stronger, and more prosperous Plateau for every entrepreneur and business owner.

Amb. Kim Musa Ndoh
President
Plateau State Business Owners Council (PLABOC)

“One Voice, One Vision.

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Business

Tax Ombud braces for digital asset tax disputes, seeks greater public awareness

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The Office of the Tax Ombud said it is strengthening its capacity to handle disputes arising from digital asset taxation as part of efforts to improve fairness and transparency in Nigeria’s tax system.

The Tax Ombud and Chief Executive of the Office of the Tax Ombud, John Nwabueze, disclosed this on Thursday at a media parley in Lagos, where he outlined the office’s achievements and future priorities.

According to him, the office has expanded the capacity of its accountants and legal experts to handle complex tax matters, including disputes involving digital assets, should such cases arise.

He also said the office plans to establish offices in all six geopolitical zones to improve taxpayers’ access to its services.

Mr Nwabueze said the Office of the Tax Ombud has enhanced access to its services through a digital complaints portal, a case management system, a toll-free call centre and SMS callback services, making it easier for individuals and businesses to lodge complaints and obtain timely resolutions.

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According to him, the office received more than 20 ‘genuine’ complaints within its first three months of operation, most of them involving state revenue services.

“Within three months, the Office received over 20 genuine complaints, most of them involving state revenue services.

“Of these, eight have been successfully resolved, all within the statutory 14-day resolution period, with provision for an additional seven days where necessary,” Mr Nwabueze said.

The Tax Ombud said the office is also expanding engagement with professional bodies, the media, revenue authorities and other stakeholders, while preparing a nationwide public awareness campaign to address issues such as multiple taxation.

“The Office has expanded the capacity of its skilled accountants and legal experts to handle complex tax matters, including disputes relating to digital asset taxation, should such cases arise.

“We are also enhancing accessibility at the grassroots through plans to establish offices across all six geopolitical zones,” the tax ombud CEO said.

He further noted that multiple taxation, particularly at the state and local government levels, remains a major concern, adding that the federal government is working with relevant stakeholders, including the Joint Revenue Board, state governments and local government authorities, to develop lasting solutions.

ALSO READ: Oyedele unveils Tax Ombud website, digital portal to strengthen taxpayer protection

Mr Nwabueze said the Office of the Tax Ombud was established to provide impartial mediation between taxpayers and revenue authorities, promote voluntary tax compliance and strengthen public confidence in Nigeria’s tax administration.

“Multiple taxation is an endemic issue that we are determined to address by engaging all relevant stakeholders, including the Joint Revenue Board, state governments, and local government authorities.

“Through collaboration and policy engagement, we are working towards sustainable solutions,” the Tax Ombud stated.

He called for support in terms of public awareness of its services, noting that many taxpayers are still unaware of their rights and the avenues available for resolving tax disputes.


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Business

Recapitalisation: NAICOM Revokes Royal Exchange Prudential Life Insurance License

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BY NKECHI NAECHE-ESEZOBOR—The National Insurance Commission (NAICOM), has revoked the certificate of registration for Royal Exchange Prudential Life Insurance PLC  over its failure to meet the statutory minimum capital requirement under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

The cancellation, which took effect on Plc August 3, 2026, The regulator also ordered the immediate winding up of the firm’s operations.

The action was executed under the legal powers granted to the regulatory authority by the Nigerian Insurance Industry Reform Act (NIRA) 2025.

According to a notice signed by Deputy Commissioner (Technical) Decent Jankara, titled “Notice Of Cancellation Of Certificate Of Registration Of Royal Exchange Prudential Life Insurance Plc”, the regulator appointed Titilayo Akinlawon (SAN)as Receiver and Provisional Liquidator to oversee the winding up of its affairs.

The notice added that “The appointed Receiver is mandated to take control of the company’s affairs, liquidating its assets and settling its outstanding liabilities in strict accordance with NIRA 2025 regulations and extant insurance guidelines.”

“Relevant stakeholders and financial institutions have been instructed to cooperate fully with the Receiver during the official takeover and winding-up proceedings.”

This development comes days after NAICOM announced the completion of the insurance sector recapitalisation exercise and published a list of 43 insurance and reinsurance companies that met the July 31, 2026 compliance deadline.

The post Recapitalisation: NAICOM Revokes Royal Exchange Prudential Life Insurance License appeared first on Business Today NG.

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