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Npower Latest News: Npower Payment Update as at December 2




The Npower programme has been under a lot of criticism lately for its inability to pay the programme’s beneficiaries their stipends since September. This article will be providing updates concerning the programme, payment of stipends and other updates concerning it.

Earlier in the week, the National Social Investment Management System (NASIMS) posted on its Facebook page that there had been a reversal of payment status. NASIMS apologized for the incident, saying that the reversal was caused partly by instability in network, causing it to bounce back after waiting days to “clinch the next payment process has elapsed.” They stated that they were working on resolving it, and all qualified beneficiaries would be paid eventually.

Then on Thursday, NASIMS addressed a Facebook post to the unpaid beneficiaries of Batch C1. The post informed beneficiaries that payment of the outstanding September stipend had begun.

This comes at a period when the affected beneficiaries are going through a frustrating period, considering the economic situation of the country (with rising prices of food and other products) approaching the festive period. It will come as a relief to many that at least one part of the outstanding payments has commenced, when the demand for the payment has been high in recent weeks.

NASIMS then implored the beneficiaries to continue monitoring their accounts closely, in case they are credited with their stipends without receiving any alerts. The Management System also confirmed that correction of any issues associated with payment is still ongoing, and once again assured the beneficiaries that all those concerned and qualified will be paid.

After posting the update concerning the September payment, NASIMS went ahead to speak concerning the October and November stipend payments. The Management System once again stated that in order to avoid false information, beneficiaries should bear in mind that the payment of the October and November stipends have not started.

NASIMS said that it was still working on issues concerning payment and hoped to settle everything as soon as possible.

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Moove Impounds Vehicles of Drivers Over Nonpayment of Loans

African mobility company Moove has reportedly impounded the vehicles of some of its drivers over nonpayment of loans.




African mobility company Moove has reportedly impounded the vehicles of some of its drivers over nonpayment of loans.

The company which partnered with Uber to provide vehicles for drivers without a down payment, which they are expected to pay off in daily installments, has seen some drivers default in payments which forced the company to kick them off from the platform and seize the vehicles.

Some of these drivers have lamented that they earn very little from the ride-hailing platform, which makes it difficult for them to be able to repay the loan. Several others described it as an “unfair arrangement,” stating that they are left with almost no money after paying Moove and Uber.

According to drivers, vehicles purchased through this partnership came with the condition that the driver would complete 12 trips daily, and spend about 12 hours a day, six days a week, on the Uber app. Despite the long hours, drivers said they find it hard to make money because the cars are hatchbacks, which places them in the cheaper Uber Go category.

A driver Adams Ikemu, who once worked with Moove before he was kicked out of the platform and had his vehicle seized, revealed that drivers who are given the vehicles, work through their noses and at the end of the day may not be able to see the end of payment before frustration sets in.

Responding to the complaints of drivers on its platform, a spokesperson at Moove said,

“It is understood that Nigeria had faced a series of unprecedented economic challenges in recent months and that it did not take decisions to impound vehicles lightly. It is also important to recognize that we operate as a business, and sometimes this means we need to make tough decisions.

“Any vehicles that have been impounded were done as a result of customers not hitting the new KPIs [key performance indicators] as part of the Moove Cares program. Under the Moove Cares program, launched to address the recent economic issues, the daily installments for some of the drivers have been reduced”.

Moove’s spokesperson said the company had reduced its daily loan installment amount to 6,400 naira, to make it easy for drivers to pay back. Drivers disclosed that indeed the company had made some changes such as decreasing the installment amount, cutting the minimum required trips to 10, and allowing them to work 10 hours a day instead of 12, although it had failed to deliver on its promises to provide them with auto, health, and life insurance.

Investors King understands that since 2022, Moove drivers in Nigeria have been protesting against unbearable working conditions, which has been ongoing on a low scale.

Launched in 2019, Moove is one of the earliest e-hailing-focused vehicle-financing companies to make its entry into Nigeria. It was founded in response to the challenge faced by over 2 million African mobility entrepreneurs, the lack of access to vehicle financing. Moove was initially built to solve this problem in Lagos and has since expanded to 6 cities across Africa.

The company is committed to building the largest and most productive hybrid and EV fleet in the world, empowering customers with greener options and positively contributing to a more sustainable world.

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Nigerians Can Now Request For NIN Cards From Their Banks Following President Buhari Order




Nigerians can now request their banks to issue them with a debit card that doubles as their National Identity Card, following recent order from President Buhari.

This was disclosed by Nigeria’s Minister of Communications and Digital Economy Prof. Isa Pantami in Abuja, while stating that the approval was obtained at the meeting of the Federal Executive Council (FEC), which was presided over by President Muhammadu Buhari at the Presidential Villa.

He added that the approval followed a memo from the National Identity Management Commission (NIMC) permitting banks to print debit cards that double as National identity cards, while also disclosing that the request for NIN cards comes with no cost.

In his words,

“As in the NIMC Act 2007, section 27, what is mandatory for our citizens and legal residents is the acquiring of the National Identity Number, not the card. However, the card is optional. But many citizens, particularly those living in rural communities, always go to NIMC offices complaining that they need the card at hand, even though it’s optional. To make it easier, NIMC last year, we introduced a smart ID card you can download from the NIMC app. It is just a smart card. You don’t need to have it physically, but that is becoming difficult for our people living in rural communities.

“To ease the difficulty, NIMC had partnered with the Central Bank of Nigeria so that citizens who are interested in having a card at hand can easily go to the relevant banks. It is going to be a form of a multipurpose card that will serve as your national identity card on one hand and also your bank card on the other. And based on the agreement, it is without any additional costs to our citizens. So when you apply for a card at your bank, you can indicate that ‘I want this card to be multiple purposes where it will serve as my bank card and also my national identity card. Both of them are going to be printed on the same card and it is going to serve the same purposes without any additional costs”.

Pantami further added that, when an individual requests the card, the bank will need to connect to the NIMC through their database. Afterward, the bank verifies the person’s details which must be in conjunction with the record in the NIMC database. Then, the card will be printed immediately for the user.

Investors King understands that this new directive from President Buhari ordering banks to issue NIN cards to citizens will ease the difficulty in obtaining the cards.

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MTN Nigeria Opens Application For Undergraduate Scholarship Award



MTN Nigeria - Investors King

MTN scholarships foundation has opened applications for undergraduate scholarship awards.

The scholarship is part of its Youth Development Cause, which provides an annual platform for recognizing and rewarding dedicated, high-performing students across Nigerian Public Tertiary institutions.

The MTN scholarship is open to two categories of students, one is for undergraduate students in Science and Technology-related courses and the other is for blind students in any field of study.

Scholarship for Blind Students (SBS) is open to 200 and 300-level visually impaired students studying any course in Nigerian public tertiary institutions, which include (Universities, Polytechnics, and colleges of Education).

Speaking on the scholarship, the executive secretary of MTN Foundation, Odunayo Sanya said,

“We believe in the creativity and resilience of the Nigerian youth. They have the potential to change the world and put Nigeria on the global map in positive ways as we can already see. The role of quality education in empowering the youth for exploits cannot be over-emphasized. We are glad to stand with them through the MTN scholarships”.

Eligibility Criteria

MTN Science and Technology Scholarship (STS):

• The application is open to students who have completed their second semester 200 level examinations going to 300 level and students currently in their 300 level as we understand that the academic calendar is not aligned across all public tertiary institutions,

The MTN Scholarship for Blind Students (SBIs):

The application is open to 200 & 300-level blind students in any Nigerian Public Tertiary Institution (Universities, Polytechnics, and Colleges of Education). However, for blind students studying Law, which is a 5 years course, only 300 level students can apply for the MTN Scholarship.

The MN Science and Technology Scholarship (STS):

•STEM Students in Public Universities and Colleges of Education must have a minimum Cumulative Grade Point Average (GPA) score of 3.0/4 or 3.5/5 (second class upper credit)

• STEM Students in Public Polytechnics must have a minimum Cumulative Grade Point Average (CPA) of 3.0 (upper credit) from the Ordinary National Diploma (OND) Program and must have secured admission into the Higher National Diploma (HND) Program.

• Direct Entry level STEM students must have a minimum GPA of 3.0 (upper credit) From the Ordinary National Diploma (OND) program and must have secured admission into 300 level/3rd year in a Public University.

MTN Scholarship for Blind Students (SBS):

• Blind Students in Universities or Colleges of Education must have a minimum Cumulative Grade Point Average (GPA) of 2.5

•Blind Students in Public Polytechnics must have a minimum Cumulative Grade Point Average (GPA) of 2.0 from the Ordinary National Diploma (OND) Program and must have secured admission into the Higher National Diploma (HND) Program.

How Applicants Can Apply For The Scholarship

Eligible and qualified candidates should visit to apply before June 18, 2023.

Investors King understands that MTN Foundation scholarships which are a part of MTN’s Youth Development Cause, have supported students financially throughout their university education and career progression. It has also provided valuable training and insights for their professional qualifications.

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