By Modupe Gbadeyanka

Men and officers of the Nigeria Police Force (NPF) have been directed to commence the enforcement of the mandatory third-party insurance for vehicle owners from Saturday, February 1, 2025.

The Inspector General of Police (IGP), Mr Kayode Egbetokun, in a statement signed by the force spokesman, Mr Olumuyiwa Adejobi, on Friday night, said nothing would change the due enforcement of the policy nationwide from tomorrow.

It was stated that the mandatory third party insurance is to reinforce road safety measures and ensure that all vehicle owners comply with the stipulated insurance requirements to protect themselves and others on the road.

The police, therefore, cautioned motorists against non-compliance with “this essential regulation,” emphasising that, “Failure to possess valid third party insurance will result in strict enforcement actions, including fines or penalties or both, as mandated by relevant extant laws.”

“Effective February 1, all vehicle owners nationwide are required to possess valid third-party insurance as they move about, and those without the Insurance, are advised to be insured quickly to avoid any sort of embarrassment.

“The IGP has directed all state Commissioners of Police to ensure due enforcement, as police officers will be empowered to conduct checks and enforce penalties for non-compliance in line with relevant extant laws.

“The Nigeria Police Force remains dedicated to enhancing road safety and protecting the lives of all citizens through the enforcement of traffic laws and regulations. Cooperation from members of the public in this crucial endeavour is much appreciated,” the statement said.

By Adedapo Adesanya

Top mobility fintech backed by Uber, Moove, has acquired Kovi, a Brazilian urban mobility provider, as it boost its footprints outside Africa.

Moove, which offers vehicle financing to ride-hailing and delivery app drivers across six continents, will now wholly own Kovi.

According to the co-founder and chief executive of the firm, Mr Ladi Delano, the acquisition of the São Paulo-based startup marks a significant step toward the company’s goal of building the world’s largest ride-share fleet.

Also, the all share acquisition deal bumps the mobility fintech’s annual revenue to $275 million.

The news comes two months after Moove announced a partnership with Waymo to provide driverless vehicle fleet operations in two US cities, Phoenix and Miami.

Mr Delano said Moove’s fleet which began with 76 cars in Lagos, Nigeria, in 2020 has now grown to 36,000 cars operating in 19 cities across six continents, with Latin America now emerging as a key market.

Founded in 2018, Y Combinator-backed Kovi launched to make vehicle ownership more accessible in Brazil.

The Moove acquisition will unite both companies which seek to tackle the same challenge—providing financing solutions for ride-share drivers.

As the parties await regulatory approval, Kovi will continue to operate under its brand while its executive and management teams will remain unchanged.

While Moove will keep the Kovi brand operating in its existing markets, Brazil and Mexico, there are plans to expand further across Latin America.

Moove recently launched operations in three cities across Colombia and Mexico.

According to Mr Delano,, the acquisition further cements Moove’s position in Latin America, giving the company a major foothold in Brazil, the region’s largest ride-hail market.

“Kovi is one of the top two players in Brazil. So we have not just entered or strengthened our presence in the Latin American market but also put ourselves in a top two position in the largest single market in Latin America through this acquisition,” he said in an interview with TechCrunch.

Moove will also push its flagship Drive-to-Own product, a taxi and employment model, and an emerging autonomous vehicle (AV) business line involving AI-driven mobility.

According to Mr Delano, Kovi’s proprietary technology and algorithms will “complement and strengthen our existing move AI mobility strategy and ensure that we can start to deliver an improved service and product to our customers around the world.”

In a statement, Kovi CEO, Mr Adhemar Milani Neto, expressed confidence in the deal. “I met the founders [Moove’s Delano and Jide Odunsi] many years back when they were scaling their business in Africa, and I was immediately impressed by their purpose-driven approach, which is also a perfect match to our culture. Together, I believe we will become a truly global category-defining business and will leverage scale and deep expertise never seen in our market.”

Moove raised a $100 million Uber-led Series B last year at a $750 million valuation. The mobility fintech has secured over $500 million in debt and equity from backers like Mubadala, BlackRock, Franklin Templeton, Janus Henderson, and the International Finance Corporation (IFC, World Bank) since its launch five years ago.

By Adedapo Adesanya

The Lagos State Government has said it is ready to integrate mini and midi buses, popularly known as Korope and Danfo, into the state’s Bus Reform Initiative.

The Special Adviser to Governor Babajide Sanwo-Olu on Transportation, Mr Sola Giwa, made this known in a statement on Thursday in Lagos.

In the statement signed by the Director of Public Affairs of the ministry, Mrs Bolanle Ogunlola, the governor’s aide said the project was in the planning phase.

“The documentation process for bus operators interested in the scheme is ongoing, with 10 operators having submitted letters of intent to the state Ministry of Transportation, of which six have already been confirmed.

“All participating buses will undergo physical verification by the Vehicle Inspection Service and Motor Vehicle Administration Agency to ensure their roadworthiness and proper documentation.

“Once verified, the buses will be branded in the Lagos Metropolitan Area Transport Authority colours and will be equipped with validators,” he said.

Mr Giwa also said that a framework was being developed to integrate union dues deductions into an e- ticketing system, while addressing activities of hoodlums extorting money from transporters.

He said that the initiative would be test-run for three months before full implementation.

He said that full implementation of the reform would prevent mini buses from operating on the Lekki-Ajah Expressway.

Mr Giwa said that the buses would be deployed to inner routes and communities.