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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.

Published

4 months ago

May 31, 2023

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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Controversial Lagos Socialite Sam Larry Arrested in Connection with Mohbad’s Death

Published

2 days ago

September 29, 2023

Samed Olukoya

The Lagos State Police Command has confirmed the arrest of Balogun Eletu, popularly known as Sam Larry, a prominent Lagos socialite, in connection with the ongoing investigation into the tragic demise of Ilerioluwa Aloba, known as Mohbad, the late singer who passed away under mysterious circumstances.

Sam Larry’s arrest took place at the Murtala Muhammed International Airport on Thursday evening as he arrived from Kenya.

A police source, requesting anonymity due to a lack of authorization to speak on the matter, revealed that Sam Larry was promptly taken to the state police headquarters for questioning.

Sam Larry’s name has been in the spotlight since the demand for justice surrounding Mohbad’s untimely death gained momentum.

The arrest follows the police’s previous invitation of both Sam Larry and Mohbad’s former music label boss, Azeez Fashola, popularly known as Naira Marley, for questioning regarding the singer’s demise.

In a significant development, pathologists have recently completed the autopsy on Mohbad, with the police now awaiting the results.

This development followed the exhumation of Mohbad’s remains, conducted collaboratively by the Nigeria Police Force and health officials.

Also, the nurse who administered the injection to the late singer before his tragic passing on September 12 has also been arrested as part of the ongoing investigation.

As the investigation continues, the Lagos State Police Command is determined to unravel the circumstances surrounding Mohbad’s death and ensure justice is served.

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Minister Betta Edu Vows to Overhaul NPower Program and Eradicate Poverty

Published

5 days ago

September 26, 2023

Investors King

Nigeria’s Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, has revealed a series of challenges plaguing the NPower program, vowing to overhaul the initiative to ensure it fulfills its mission of alleviating poverty for millions of Nigerians.

During the Arise TV interview, Minister Edu expressed her commitment to transforming the NPower program and addressing its longstanding issues.

She explained that the NPower payment list contains the names of individuals who should not be part of the program, revealing the gravity of the problems that her ministry is actively working to rectify.

“First of all, when we came onboard, we found lots of issues with the NPower program that made us re-engage the entire plan,” Edu stated. “One of the things was that there were persons registered on the NPower beyond the envelope that was provided for the program.”

The revelation of individuals beyond the program’s intended scope raises questions about the program’s effectiveness in targeting those most in need of assistance.

Edu further highlighted financial mismanagement as a critical issue affecting NPower beneficiaries. “Funds were released for payment for people under NPower, and they were not paid in a timely manner by the managers of the funds of the NPower beneficiaries,” she declared.

This mismanagement of funds not only hinders the program’s ability to provide timely support but also undermines the trust of beneficiaries in the system.

Perhaps the most concerning aspect disclosed by the minister is the inclusion of individuals on the payment list who should not be there and those who do not contribute to the program despite receiving payments.

Edu said, “There were also people who were on the payment list who are not supposed to be there, and there are persons who are there but are not providing any services but have been enrolled to have payment.”

Such irregularities in the program’s implementation not only waste resources but also deprive those genuinely in need of the support they require.

Also, Edu acknowledged the issue of individuals who had surpassed their allotted time with the NPower program but still expected to receive payments. She referred to this as an “exit plan,” which has led to continued financial obligations that the program may not be able to sustain.

To address these pressing concerns, Minister Edu disclosed that a committee has been established to scrutinize and provide recommendations for improving the NPower program. The committee, headed by the secretary of the ministry, is expected to propose reforms based on its findings.

Minister Edu’s commitment to reforming the NPower program aligns with the broader goal of President Tinubu’s administration to uplift 133 million Nigerians out of poverty by 2030, in accordance with the United Nations Sustainable Development Goals (SDGs).

She declared, “For poverty alleviation, we are targeting at least 133 million Nigerians between now and 2030, which is in line with the SDGs that we signed at the United Nations.”

However, Edu emphasized that the government is not content with maintaining the status quo.

“The difference here is that we are not going to continue doing things the same way and expect different results,” she affirmed.

“There are different plans we are working on, and we believe very strongly that by the next one year, we should be able to say that at least we have removed 20 million Nigerians out of poverty.”

The commitment to addressing the NPower program’s flaws and the ambitious goal of poverty eradication signal a new direction in the fight against poverty in Nigeria, one that aims to be more efficient, transparent, and impactful for the nation’s most vulnerable citizens.

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FBI Analysis Reveals Shocking Details in Mompha’s Trial

Published

1 week ago

September 21, 2023

Samed Olukoya

A Lagos High Court recently admitted into evidence a comprehensive report from the Federal Bureau of Investigation (FBI) during the trial of Ismaila Mustapha, popularly known as Mompha.

This report sheds new light on the alleged fraudulent activities of the accused, including the use of his iPhone in a series of financial transactions.

The FBI report, presented by the Economic and Financial Crimes Commission (EFCC) as evidence, has revealed a string of suspicious activities carried out through Mompha’s iPhone.

According to the report, Mompha’s phone was used to send account details to a United Arab Emirates telephone number, searched for Swift Codes of a bank, and, shockingly, had a compromised Microsoft 365 account.

The charges against Mompha and his company, Ismalob Global Investment Limited, include conspiracy to launder funds, retention of proceeds from criminal conduct, money laundering, failure to disclose assets, possession of documents containing false pretense, and the use of property derived from an unlawful act.

The prosecution alleges that they conducted financial transactions amounting to over N5.9 billion with the intent of promoting unlawful activities.

During cross-examination, the witness from the FBI revealed that Mompha’s iPhone was employed in changing payment delivery methods from cheque to wire transfer after two failed attempts, ultimately succeeding on the third attempt.

The defense counsel, Kolawole Salami, initially objected to the admissibility of the FBI report, arguing that it needed certification by the United States Consulate.

However, the objection was overruled by Justice Mojisola Dada, who deemed the documents to be in their original state and not requiring certification.

As the trial progresses, these shocking revelations from the FBI analysis have cast a new light on the case against Mompha.

The courtroom drama continues, with the case adjourned until Wednesday, November 1, leaving both the prosecution and the defense with much to consider in the days ahead.