All Posts in "Day: June 28, 2022"

NAICOM Liquidates Niger Insurance,Standard Assurance

The National Insurance Commission (NAICOM), has withdrawn the operational certificates of Niger Insurance Plc and the Standard Assurance Plc.

The commission has appointed a receivers to oversee the the liquidation of the two former composite insurers, a statement from.’Rasaaq ‘Salami,Head, Corporate Communications and Market Development on behalf of Sunday Thomas, Commissioner For Insurance, NAICOM,said on Tuesday.

The commission assured stakeholders of the safety and protection of their interest.

The statement reads: “This is to notify all insurance stakeholders and members of the public that the National Insurance Commission, NAICOM has cancelled the certificates of registration of Standard Alliance Insurance Plc, RIC – 091 and Niger Insurance Plc, RIC – 029 with effect from the 21st day of June, 2022.

“Consequently, the Commission has appointed Sanya, Ogunkuade Esq of Plot 217, Upper Grace Plaza, 3rd Floor (Left Wing), Shetima Munguno Crescent, Behind Julius Berger Equipment Yard, Utako, Abuja as the Receiver/Liquidator for Niger Insurance Plc and, Kehinde Aina Esq of Aina Blankson LP, 5/7, Ademola Street, SW Ikoyi, Lagos as the Receiver/Liquidator for Standard Alliance Insurance Plc.

“All stakeholders are advised to forward their enquiries to the respective Receiver/Liquidator for each company for their necessary action.

admin by — June 28, 2022 in Business 0
Group Mobilises Varsity Lecturers, Students To Stop Strike

A group under the Save Public Education Campaign has implored University lecturers, students and parents across the country to gear up for mass actions against the ongoing strike action embarked upon by the Academic Staff Union of Universities ( ASUU ).

The group explained that the protest is aimed at compelling the Nigerian government to take necessary steps to end the industrial action.

Speaking at a press conference on Monday in Abuja on behalf of the group the Co conveners , Comrade Vivian Bello and Comrade Dimeji Macaulay,criticized President Muhammadu Buhari led government for wasting humongous amount of money and resources on political parties’ Nomination forms and Primaries as priorities while relegating issue of education and future of Nigerian children to the background.

She described the action of government toward the plight of the lecturers which bordered on issues of poor welfare as ridiculous, absurd and unacceptable.

She lamented the time lost by the students in public universities across the country which she said amounted to entire two and half years.

She said: ” Distressing statistics show, that the Academic Staff Union of Universities, ASUU has been on strike for a total of over 725 days, since the beginning of this administration over issues that bother largely on poor welfare, University Autonomy and lack of adequate funding for Universities. When tallied inversely, this amounts to an entire two and half years lost, in the educational lives of innocent Nigerian Children/Students in public Universities across the Country.

” It did not end there; The Academic Staff Union of Polytechnics, and Colleges of Education, ASUP and COEASU are all also currently on strike on similar issues as ASUU. We all can see clearly, that this is an all-round collapse of the Tertiary Education in the Country.

“We make bold to say, that if government will recognize the futility in its so-called insecurity-fighting campaign, change strategy and invest a greater proportion of the resources it is expending in the insecurity campaign in providing robust, efficient and quality educational system and structure and qualitatively educate its teeming citizenry, within a calculated period of time, insecurity will gradually die a natural death in Nigeria and the society will take on its hitherto regular and peaceful equilibrium.

In order words, we submit boldly that, education can be a veritable panacea to insecurity in Nigeria.

” In view of the gravity of the situation, we make a clarion call for unity and coming together of staff unions, students, workers and communities across the Country, to mobilize and get ready for civic mass actions to compel the government to take the necessary steps to end the strike and have the millions of our children and students, return to school to end the jeopardy of their Education and future ”

Macaulay faulted unpopular policies of Buhari’s led government
in education sector which he said had affected public universities and tertiary institutions across the country.

He implored government to discontinue with the IPPIS platform adding that evidence by the striking academic unions showed that is the platform is problematic, inconsistent and fraudulent.

Macaulay called for immediate payment of all withheld salaries of the striking academic lecturers and unions.

admin by — June 28, 2022 in News 0
FG Promises To Strengthen SEC

The Federal Government has said it would strengthen the Securities and Exchange Commission to reposition the Nigeria’s capital market to be at par with its peers globally.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed made the commitment in Abuja,when she received the Revised Nigerian Capital Market Master Plan (2021-2025).

The plan was submitted to the Minister by the Capital Market Master Plan Implementation Council led Director-General of SEC, Lamido Yuguda and other top officials of the Commission .

Speaking,the minister said the review of the Capital Market Masterplan underscores the fact that capital market growth resonates with the current administration’s unwavering commitment to deepening and re-positioning the country’s financial markets as a key anchor to achieving a private sector led development of the economy as encapsulated in the National Development Plan objectives.

She said her ministry of finance has supported the Capital Market Master Plan implementation efforts since inception, adding that the Master Plan, represents the collective aspirations of the capital market community which is focused on driving initiatives geared towards growing and deepening the market.

She said this initiatives are being implemented with the ultimate goal of accelerating the emergence of Nigeria as a top 20 global economy by the year 2025.

She commended the Securities and Exchange Commission, Capital Market Masterplan Implementation Committee and other stakeholders for the laudable accomplishments so far recorded in the Master Plan implementation journey especially in the areas of dematerialization of share certificates, e- Dividend mandate, facilitation of access to alternative investments like Sukuk and Specialized Funds, review of CAMA and ongoing review of the ISA, demutualization of the Nigeria Stock Exchange, enhancing the commodities eco-system, design of a National Savings Strategy among others.

She added:“Our capital market is growing and evolving. To sustain this growth and eventually transform to a world class capital market, transparency and investor confidence is key.Investor confidence will accelerate the growth of our market and increase both domestic and foreign investor participation. To this end, we will continue to support and strengthen the regulator to effectively do its job of regulating and developing the capital market.

“I see the capital market as an important driver of our economic growth objectives and we will continue to support efforts to position our market where it deserves to be – a capital market that will broaden access to economic prosperity by enabling the emergence of financially responsible citizens, accelerate wealth creation and wealth distribution, provide capital to small and medium scale enterprises, and catalyze housing finance.

“As you chart the course for the next phase of the Capital Market Master Plan’s implementation, I assure you of this administration’s support and look forward to working with you and other stakeholders in the financial market to realize the plan’s outcomes.”

In his remarks,the SEC DG,said through the implementation of the 10-year Nigeria Capital Market Master Plan (2015 – 2025), the Commission and other stakeholders have recorded significant milestones over the years.

Yuguda listed some of them to include full dematerialization of certificates, direct cash settlement, recapitalization of CMOs, E-Dividend Mandate Management System, National Savings Strategy to grow domestic risk capital formation, the Roadmap on Enhancing Commodities Trading Ecosystem, Establishment of the West African Securities Regulators Association (WASRA) to encourage integration of capital markets in West Africa, among others.

Yuguda said the Master Plan document recommends a periodic review of the assumptions, goals and objectives of the Plan to better align it with current realities and innovations in the global financial system.

As part of the review, he said the Commission embarked on a comprehensive review of the Plan, driven by PriceWaterHouseCoopers with funding support from Financial Sector Deepening Africa (FSDA).

The main objective of reviewing the Master Plan, he noted, is to produce an updated version of the document primarily to engage stakeholders on the current level of market development and opportunities for further capital growth; review and update the assumptions and vision of the CMMP and develop targets for the various thematic areas of the CMMP.

Other objectives of the review are to introduce a Strategy Map and Key Performance Indicators for the CMMP and use the Balanced Scorecard Approach for performance measurement; align existing and derive new initiatives based on targets and strategic objectives; develop an implementation plan for initiatives with clear milestones, deliverables, timelines, resource requirements, dependencies, and identify challenges, opportunities and risks associated with the CMMP implementation and recommend ways of effective and more efficient implementation.

He said:“The comprehensive review of the Master Plan is now complete and a Revised Capital Market Master Plan has been produced.The revised Plan has incorporated the views and aspirations of stakeholders in our market as well as best practices globally to produce a well-articulated strategic plan for the next four years.

“The revised Capital Market Master Plan is designed to chart the strategic position and future direction of the capital markets, while providing both the SEC and market participants clarity on the vision of the capital market and the road map required to facilitate a conducive business environment to encourage innovation, investment, growth and expansion of economic and employment opportunities in our country.

admin by — June 28, 2022 in Regulators 0
Customs Intercepts  Trucks  Loaded With Smuggled Rice In Ogun

The Ogun State 1 Area Command of The Nigeria Customs Service, NCS, has impounded two long trucks belonging to Dangote Cemtent Factory, Ibese, Ogun State, fully loaded with bags of smuggled foreign rice.

The Command’s Compttoller, Bamidele Makinde, while addressing newsmen at the Idi-Iroko border said most of owners of the trucks might be on franchisees of the factory.

Makinde said that each of the two trucks were conveying 882 bags of 50kg foreign parboiled rice along Abeokuta axis when his officers stopped them.

He said between the month of May and June 27, he said, a total of 8,417 bag of rice, valued at N131,145,277, were seized by the NCS in Ogun.

He disclosed that the command generated a total sum of NI2, 818,181 from importation and auction sales of petrol intercepted at diferent locations and exit points to the Republic of Benin during its anti-smuggling operations.

Besides, a truck load of about 320 cartons (23, 400 pairs) of imported foot wears with an estimated duty paid value of N764,974,800 was also intercepted by the command.

Also, a tanker containing 45,000 litres of adulterated diesel was also impounded from a suspected bunkerer.

It was said that illicit drugs and narcotics worth N221, 820, 820 were intercepted by the command within the period under review.

“The cumulative estimated Duty Paid Value (DPV) of all the seizures between the month of May and June, 2022 amounts to One Billion, Two Hundred and Ninety Million, One Hundred and Eight Thousand, Six Hundred and Eight Naira, Zero Kobo only (N1,290,108,608.00),” Makinde said.

admin by — June 28, 2022 in Business 0
Rights Abuse: Pregnant Woman, Six Others Sue EFCC

A pregnant woman and six other persons have sued the Economic and Financial Crimes Commission(EFCC) and one Michael Nzekwe on account of alleged infringement on their fundamental rights.

The applicants had dragged the Commission  and Nzekwe before a Kwara State High Court over their arrest and continuous detention on the instruction of the Respondents by the agents or privies of the 1st and 2nd respondents at the 1st respondent’s custody.

The applicants are:  Abiola Morupe Rachael, Abiola Bisola Titilayo, Abiola Mary, Ibrahim Funbi,Ibrahim Dele, Ibrahim Adewale and  Damilola Ojo.

They alleged that the EFCC had arrested them because they  engaged in vote-buying in Ekiti State during the just concluded governorship election.

They averred that the action of the respondents who refused to take them to court or release them on administrative bail is unlawful and amount to violation of the applicant’s fundamental rights to personal liberty.

In a suit filed before the court by their counsel, Y.A Alajo,  L.O Bello, Olawale Ogundele and  S.T Yahaya, the applicants are seeking  a  declaration that the arrest of the Applicants at Ereguru Street of Ado-Ekiti, Ekiti State and subsequent detention of the Applicants on the instruction of the Respondents by the agents or privies of the 1st and 2nd Respondents at the 1st Respondent’s custody within the radius of forty (40) kilometers of a Court of competent jurisdiction since 18th June, 2022 up-to-date and for more than one or two days without taking them to court or releasing them on administrative bail is unlawful, unconstitutional and constitutes flagrant violation of the Applicants’ right to personal liberty.

They are also  seeking an order of mandatory injunction compelling the respondents, jointly to release the applicants unconditionally or charge the applicants in court, forthwith, for the alleged electoral offence(s) for which they were arrested.

They also prayed  order of mandatory injunction compelling the Respondents, jointly and severally to write an unalloyed and unmitigated letter of apology to the Applicants as required under the 1999 Constitution of the Federal Republic of Nigeria as amended for violation of his fundamental human rights and to publish same in not less than two national dailies and on the internet.

They are also seeking a sum of one hundred million naira (100,000,000,00) jointly and severally against the respondents as general, exemplary and aggravated damages or compensation to assuage the feelings of the Applicants for the violation of their fundamental human rights to personal liberty.

admin by — June 28, 2022 in Law/Human Rights 0
Oyo, NDLEA Draw Battle lines With Consumers, Sellers Of Illicit Drugs

The Oyo state government in collaboration with the National Drug Law Enforcement Agency is set to clamp down on consumers and sellers of illicit drugs to rid the state of criminals.

The Oyo State Commissioner of Health, Dr. Taiwo Ladipo, disclosed this at the 2022 International Day against Drug abuse and Illicit trafficking Celebration held at the Conference Room, Ministry of Health Secretariat, Ibadan, with the theme “Addressing Drug Challenges in Health and Humanitarian Crisis”.

According to him, the present administration has put in place a state Drug Abuse Control Committee, that is in charge of waging war against drug abuse and misuse,adding that the state government would continue to ensure that the menace of these vices are being curbed within our society.

He added : “I think the Oyo state government has been able to extend the processes that have been put together by the federal system in ensuring that the issues pertaining to drug production as well as trafficking is given so much recognition. The NDLEA is part of the state security council and the Oyo state government has actually extended some level of support and that level of support will still continue.

“The committee as it is, is meant to create awareness that is being done seriously and more importantly the processes being put together to start looking at the issues pertaining to the sale of some of these substances within a refined level of sales like pharmacy shops and things like that in the state.

“It is an ongoing process; it is not something that you would start and end in a go. As the people that are trafficking and utilizing those drugs are making different means of getting their ways, the state government would also devise means to ensure that the menace of these within our society is really curbed.

Earlier, the chairman, Oyo state drug Abuse and Control Committee, Pharmacist Lukman Akinwande, stated that the committee set up by the State government has embarked on series of enlightenment programmes in line with its mandate.

He explained that the committee has constituted Drug Free Clubs in the schools across the State, visited markets, motor parks and tertiary institutions in the state.

Mr Akinwande further implored religious bodies, NGOs, teachers, parents and political office holders to come up with more sensitization programmes to as to curb the menace.

In his remarks, the State Commander NDLEA, Oyo State Command, Abdullahi Saeed, said that the determination and commitment of the NDLEA is to ensure a drug-free and well sanitized society.

He appreciated Governor Seyi Makinde for his continued support, morally, financially, and logistics-wise, to the NDLEA Oyo State Command.

admin by — June 28, 2022 in News 0
700,000 PVCs Uncollected In Oyo -INEC

The Resident Electoral Commissioner (REC) in Oyo State, Barrister Mutiu Agboke,has said that over 700,000 Permanent Voter Cards (PVC) are waiting for collection in the commission’s office.

Agboke,who revealed this during a programme organised by Political Awareness Group (PAG) an association of Muslim Professionals and Technocrats in Nigeria, said no one will win in Oyo State except the people votes him.

Responding to an allegation raised by popular leader of Islamic pressure group,Ishaq Akintola that some Muslims were being denied the right to register for PVC in some South Western states due to Hijab and cap, he insisted that there is no policy of INEC that prevents anyone from registering for PVC because of Hijab.

He implored residents of the state to use the open window to go and claim their PVCs.

He added:“We have over 700,000 PVCs uncollected in Oyo State, let people come out to collect it.We should sensitize people. I can tell you confidently that no one will win in Oyo state except the people vote for you. I will not be the one to conduct the 2023 elections. I am leaving in July. In the next two weeks.

“Muslims should come out and exercise their civic right. We have not announced officially the closure of registration. It currently ends on the 30th but from Nigerian’s yearnings, we might extend it.On the issue of Niqob and Hijab, there is no INEC policy that disqualifies anyone from the registration because of Niqob or Hijab.

“But if you are a Muslim woman under this category none of INEC staff would disallow you from registration because it is either your face is taken or your biometrics even though it has implications during the election”.

admin by — June 28, 2022 in News 0
Growing Energy Demand Prospect For Seplat, Others,Says McKinsey & Company

 

Seplat Energy Plc, leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, as well as other energy producers in Africa, are projected to grow more on account of the rising demand for energy in Africa.

Africa’s energy demand is also expected to see increased growth over the decade amidst current realities,global management consulting firm, Mackinsey & Company,has said.

The company disclosed this at the Seplat Industry lecture and Dr. ABC Orjiako send forth event held in Lagos at the weekend.

“There will be rising demand for fossil fuels in Africa driven by industrialization and population growth. Energy demand growth will be led by Nigeria, and this will create tailwinds for energy suppliers like Seplat Energy,” Oliver Onyekweli, Associate Partner and Co-Lead of West Africa Oil and Gas Practice, McKinsey & Company, said in his presentation on the theme of the lecture, “The Future of African Oil & Gas: Positioning for the Energy Transition”.

.

According to him,Africa’s growing energy demand also creates opportunities for Seplat to explore renewable energy solutions.

He said,decarbonizing production and cost leadership, will be key going forward as capital providers continue to reduce exposure to oil and gas, with customers preferencing lower carbon shipments.

He added:” Decarbonization of assets to greatest possible extent, it added, will be needed to maintain “license to operate” and maintain access to capital at attractive rates. “As global oil demand peaks, maintaining cost leadership ($/bbl) will be increasingly vital.

“Indigenous producers will define the future of African oil and gas, as IOCs will continue to face pressure to reduce carbon-intensive operations and lower cost of production, according to McKinsey, which also maintained that divestment is likely to continue.

“Companies like Seplat Energy are well positioned to pick up producing assets going forward, provided they can maintain operational excellence. Ensuring continued access to talent will be key,” it added.

McKinsey further explained that, “African energy infrastructure is a compelling opportunity. As the energy transition accelerates, gas will become more prominent as a “transition fuel”, especially in Nigeria. Significant domestic gas demand is a positive tailwind for Seplat Energy’s ANOH project and gas’ cleaner carbon profile (relative to diesel) should make gas projects easier to finance (can be paired with LPG). Investing in gas export infrastructure (e.g. FLNG) could create an opportunity to access high value international spot market.”

Dr. ABC Orjiako, the pioneer and immediate past Chairman of Seplat Energy, lauded all the company’s stakeholders for the huge successes recorded so far in the company since inception, saying they were products of hard-work, sleepless nights and resilience.

Commending all stakeholders of Seplat Energy for the great achievements recorded so far, the Chairman, Seplat Energy, Mr. Basil Omiyi, said year 2022 marks a major turning point for Seplat Energy as Dr. Orjiako retires from the Board after leading the Company to achieving monumental milestones over the last 13 years, including 9 years as a listed entity.

In his remarks, the CEO Seplat Energy, Mr. Roger Brown,said Dr. Orjiako drove Seplat Energy’s long-term imperative with regards to global transition away from fossil fuels towards cleaner and renewable energies, advocating a just transition, which is to be conducted at an appropriate pace.

Katsina: Twenty Two Dies In IDP Camp,150 In Kidnappers’ Den

About twenty-two persons have lost their lives at the Internally Displaced Persons (IDPs) camp in Jibia local government area of Katsina state.

Of the number, fifteen were adults, while the seven are children of between two and three years old.

Besides,15,200 persons from seven displaced communities are currently taking refugee in the camp at Government Girls Secondary School, GGSS, Jibia,Malam Sa’ad Salisu Shimfida, the chairman of the IDP camp disclosed this while speaking with some journalists in Jibia on Monday.

He attributed the development to the infested environment they are forced to leave in.

He said most of IDPs sleep on the bare floor, while others take their rest on mats provided by the local government authorities.

He lamented that the camp is not secured as there are no security personnel attached, no water and no health facilities

He said initially stage, they were being fed thrice a day, which later became twice a day, adding that, they are presently feeding once a day.

Salisu said they have been in the camp for the last three months, saying that, they would prefer to return back to their communities to enable them farm their lands.

He pleaded with the state government to provide them with the necessary security structures, to enable them benefit from the raining season in order to make life better for themselves and their families.

Alhaji Bishir Sabiu, the Chairman Jibia LGA,however,said the council has provided adequate relief materials to the IDPs in the camp.

Meanwhile,no fewer than 150 persons are presently in captivity for over three months, as a result of armed bandits attacks in Jibia local government area of Katsina state.

Besides, the council is planning to generate funds to rescue some underage girls being kidnapped and maltreated by the bandits.

Alhaji Bishir Sabiu, the Chairman Jibia LGA disclosed this while speaking with newsmen in Jibia on Monday,adding that,”On daily basis, my local government area witness seven to eight attacks”.

He said people are being killed and kidnapped by the bandits, making unnecessary demands for their release.

“It is one complaint to another that, there is an attack at so and so places.I have made several complaints to the authorities concern yet there is no any assistance from them”, he maintained.I get first hand information of the miscreants movement, I know from where, on how many motorcycles and whatever and yet, unfortunately, if I relay the information to the security agencies, nothing is being done.I hardly sleep on time, if I do it will be after the morning prayers, then I can take my rest”.

Sabiu, while commending the efforts of Governor Aminu Bello Masari, said government is providing all the needed assistance to bring peace in all the affected areas.

admin by — June 28, 2022 in Oil&Gas 0
Judiciary Must Protect Nigerians -Cleric

Bishop of Church of St Thomas Diocese of Badagry Church of Nigeria, Rev. Babatunde Adeyemi, has urged lawyers and judges in the country to be a voice of the voiceless in the society.

He spoke at the special service of the Badagry chapter of the Nigerian Bar Association’s Law Week,where he also said lawyers and judges take position of God by the virtue of their position or as a result of opportunities or privilege in the society.

He added:“And for this reason, if you find yourself in this position, representing that power of God among the men, we must ensure that it is what God wants that we do.Always represent the same thing God intended by judging with righteousness and be a voice to the voiceless in the society,” he said.

He urged the men of the bar to be courageous, bold and fearless in order to say the truth.

The bishop said that they needed the courage in order for them to be able to say the truth where they need to do that.

Speaking, Mr Mohammed Sodipo, the Chairman, NBA Branch, commended the Bishop for the message, promising that the lawyers would always protect the constitution of the country.

Sodipo said that the law week of the branch would continue with a visit by the association to Ajara Maternity Centre at Ajara Mango on Tuesday, June 21, 2022.

“On June 22, there will a lecture at Elite Hotel and Event Centre by 10:00a.m, while Dinner and Award night will come up on June 23 by 4:00p.m at the same venue.On Friday, Jumat Service will be observed at Central Mosque Badagry by 1:30p.m,” he said.

‘Nigeria’s LPG Market Needs Improved Investments In Infrastructure’

Indigenous energy trading company, Hyde Energy,says Nigeria’s Liquefied Petroleum Gas market sector needs significant investments in infrastructure to boost its availability and affordability in the country.

The company gave the suggestion at the just concluded 2nd West Africa LPG Expo & NLPGA Summit 2022 held in Lagos themed: “Energizing the Future: LPG as a Sustainable Fuel in African Economies.”

The first day of the two-day conference featured a panel discussion where the Chief Executive of Hyde Energy, Oladimeji Edwards, encouraged more collaboration amongst relevant stakeholders in the industry to develop necessary measures that can improve infrastructural development in the sector to reduce the cost of LPG and increase supply

“To reduce the cost of LPG, it is very important to build infrastructure to captive market, to take it from truck to skid, to dispensing unit, all the way down to the cylinders, and ultimately at some point, the next generation will reticulate as part of standard code for construction at which point in time, we would have had ample supply of LPG distribution across the country,” he said.

He further disclosed that for infrastructural development to come into place, there is a need for all hands to be on deck and show the will to make it happen.

Stating that Nigeria has tremendous gas deposits but there is inadequate infrastructure around gas resources, “to reduce imports, adequate investment is required. Gas suppliers are importing LPG, paying in U.S. dollars, and due to inflation and devaluation this affects retail prices, but with good infrastructure, I assure you that we will have an enabling environment for investment to thrive and everyone will be happy,” he advocated.

He commended the effort of the NLPGA to bring together industry stakeholders to share ideas on contentious topics and share strategies to help Nigeria’s LPG market unlock its incredible potential saying, “this is a brilliant platform for relevant stakeholders in the industry. It is a great event which brings in international and indigenous experts to exchange ideas, opinions, trends and outlook for the future.”

admin by — June 28, 2022 in News 0
Debt: IBEDC Commences Mass Disconnection Of Customers

Ibadan Electricity Distribution Company (IBEDC) says it is embarking on mass disconnection of customers on account of their failure to pay for electricity.

This development is adversely affecting quality service delivery of the power utility company, its Chief Operating Officer of the Company (COO), Engr. John Ayodele said in a statement,which also quoted him as appealing to customers with huge outstanding to pay their bills in order to avoid being disconnected.

He said:“We are retooling our revenue drive strategy to ensure that the monies that have been left uncollected through huge debts, non-payment of bills, underpayment of bills, meter bye-passing, use of illicit meters and energy theft are raked in to enable us to meet our obligations to the customers and the market operators”.

“As we all know there has been a major drop in the electricity generated across the country that has invariably caused the reduced power supply to our valued customers; this drop in generation from the GENCOs is also traceable to their inability to pay for gas, which is denominated in dollars. When customers do not pay for electricity consumed, it has a ripple effect, as we cannot service the electricity value chain”

He implored customers with disputed bills to lodge their complaints at the nearest IBEDC Office to seek redress or adjustments in cases where the claims are genuine and verifiable.

He further pleaded with customers to obtain their meters under the Meter Asset Provider Scheme (MAP) to put a stop to disputes over billing.

“The meters will record your accurate consumption, so please apply for a pre-paid meter if you are unmetered, if your meters are obsolete or faulty; and if you have a new building. Visit any IBEDC office in your location or go online to apply for the meters on msms.ibedc.com or www.ibedc.com” he said.

He also explained that customers who purchase meters under the MAP scheme will get their monies back in due course through energy units. On the issue of tariff rates that have generated arguments in some quarters,

He said only the Nigerian Electricity Regulatory Commission (NERC) has the power to determine what customers should pay for electricity based on their hours of supply.

admin by — June 28, 2022 in Power 0