News

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

1 year 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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News

Bbnaija’s Wanni Wins Innoson Car Challenge, Secures First Vehicle with Twin Sister

Published

2 hours ago

October 3, 2024

Yetunde Olugbenga

One of the twins’ housemates in the Bbnaija season 9 competition, Wanni Danbaki, popularly known as Wanni, has emerged as the winner of the Innoson car challenge.

As the Nigerian reality competition Television show Big Brother Naija heads towards the grand finale, Wanni won the Innoson car challenge on Wednesday, October 2, 2024.

In this year’s Bbnaija titled No Loose Guard, the car challenge was sponsored by Innoson to assess the housemates’ endurance and resilience.

In a post on Instagram, Innoson captioned the challenge, “Biggie said, ‘Let’s spice things up.’ Now it’s a bucket, a bottle of water, and one hand. It’s like a gym session nobody signed up for!”

“Using one hand to hold a bucket of dreams, but their faces say they’re holding onto survival itself. Keep going, IVM Ikenga is worth it!” the caption continued.

The challenge was split into four rounds, with housemates disqualified for failing to complete the tasks.

Eight housemates, including Kellyrae, Nelly, Anita, Sooj, Victoria, Wanni, Ozee, and Onyeka, participated in the challenge, but Wanni ultimately emerged as the winner.

Filled with excitement, Wanni, in an on-air announcement to her twin sister Handi, exclaimed, “Handi, we got a car! Handi, we got a car, our first car baby!”.

Travel

Many Nigerians Disappointed as FG Refuses to Subsidise Hiked Passport Fees

Published

5 days ago

September 28, 2024

Ugwoke Ogbodo

Nigerian International passport- Investors King

Many Nigerians have expressed their displeasure following the announcement by the Minister of Interior, Olubunmi Tunji-Ojo, on Friday that the Federal Government would not reduce nor subsidise the rate of purchasing the international passport in the country.

Justifying the recent increase in passport fees, he clarified that the rise was approximately 45%, attributing the fee adjustment to the exchange rate between the dollar and the naira.

As per the new structure, the cost of a 32-page passport booklet with a five-year validity increased from N35,000 to N50,000, while a 64-page passport booklet with a 10-year validity rose from N70,000 to N100,000.

Meanwhile, some Nigerians who had in August kicked against the new price when the Nigerian Immigration Service announced an upward review of the fees for Nigerian Standard Passports, said it was a ploy by the Federal Government to frustrate efforts by Nigerians to travel out of the country for greener pastures.

They expressed disappointment over the fee hike, accusing the government of making japa (migration) more expensive.

Speaking, a Nigerian, Fidelis Okoro noted that the Federal Government was expected to have subsidized the increment, adding that the Minister’s insistence on the hike fees is not welcome.

Another citizen, Agali, who shared his disappointment with the government in a chat with Investors King, said, “Now the government is increasing taxes and fees and fattening its IGR base on the detriment of poor masses. Even those who struggle to leave the country are not spared. I, for one had expected that the government should have subsidized passport fees but with this announcement by the minister, I am disappointed.”

But, the minister, while speaking at a media briefing in Abuja to mark his first year in office, explained the reason why the government could not subsidise passport fees for Nigerians.

He also clarified that the price increase did not affect the fees for Nigerians living abroad.

The minister explained that the increase in passport fees is a matter of cost-benefit analysis, especially when considering the exchange rate between the dollar and the naira, adding that if the government were to subsidise anything, he doesn’t think it should be passports.

“The increase is just from N35,000 to N50,000 — only about 45%. There has been no increase for Nigerians abroad,” he maintained.

He stressed that the government was not exploiting Nigerians but simply covering the cost of passport procurement.

Tunji-Ojo also revealed that Nigerians in the diaspora, particularly those in the United States, Canada, and the United Kingdom, would soon enjoy more seamless passport acquisition processes.

Education

ECOWAS Donates $380 Million to Electrify Public Schools and Health Centres Across 18 African Countries

Published

6 days ago

September 27, 2024

Bassey Marshall

The Economic Community of West African States Commission (ECOWAS) has announced a donation of $380 million for public schools and health centres in 18 African countries.

The donation was announced by the Senior Adviser on the Regional Off-Grid Electricity Access Project at the ECOWAS Commission, El hadji Sylla, during a stakeholders meeting in Abuja.

According to Sylla, with the move, the ECOWAS aims to promote a new innovative chain to electrify public schools.

Sylla, who stated the goals of the initiative funded by the World Bank, the Clean Technology Fund, and the Dutch government, revealed that the project will kick off from Nigeria and Benin.

He noted that the project covers 15 countries in the ECOWAS region.

According to Sylla “The cost of the project is $380m, and we want to promote a new innovative chain to electrify public institutions. Our target is to electrify schools and health centres to improve service delivery.

“We are piloting the project in Nigeria and the Benin Republic. The project covers 15 countries in the ECOWAS region and four countries in the Sahel region,” Sylla said.

“We are targeting schools and health centres to improve service delivery,” Sylla said, adding that the project is expected to be completed in five years across all participating countries, with the pilot phase in Nigeria and Benin to be executed within 18 months.

In Nigeria, the initiative will begin with electrification projects in selected schools and health centres in the Federal Capital Territory, Niger, and Nasarawa states,” he concluded.

Meanwhile, Minister of Power, Adebayo Adelabu, who was represented at the meeting by Bem Ayangeaor, noted that electrification in Nigeria has seen significant growth.

He, however, attributed the growth to the grants and subsidies flowing into the sector.

“I do not doubt that the rural electrification space in Nigeria, thanks to grants and subsidies, has grown significantly and will soon reach a stage where public support leverages private sector financing at higher efficiencies than it is presently done.

“A stage where the private sector would be more excited in investing in the electrification space because of the benefits to be gained,” Adelabu said.