All Posts in "Day: January 28, 2023"

Stop Energy Theft, Assault On Our Staff, Ikeja Electric Warns

 

Ikeja Electric,has warned criminals against energy theft and assault on its staff.

The Acting Head of Corporate Communications Ikeja Electric, Mr Kingsley Okotie,who conveyed the warning in a statement,said the electric firm frowns at
nefarious acts such as energy theft, illegal connections, safety breaches, bribery/extortion, tampering, meter-bypass, harassment and assault of the company’s staff while discharging their legitimate duties as the development will hinder the company’s smooth operations for excellent service delivery.

The company’s latest warning came on the heels of recent prosecution of two vandals by magistrate courts in Lagos and Ogun.

He deplored increase in the rate of vandalization of electricity installations has become worrisome to the distribution company.

According to him, vandalism affects not just the distribution company but also customers, both residential or commercial, as everyone is thrown into darkness over long periods until the assets are replaced.

He implored all stakeholders to collaborate to curb the ugly trend, while encouraging Community Development Associations (CDA) to make use of their vigilantes in addition to other security agencies and safeguard electrical equipment in their neighborhood.

He commended security agencies for providing support in protecting IE infrastructure and urged members of the public to report any suspected illegalities on electrical installations around them.

Premium News report that Omena Sunday,and Bashir Sheu were arraigned before the Magistrate Court 1 Mushin, sitting at Ogba Magistrate Court on the 11th of January 2023 and Ifo Magistrate Court 2, Ifo Local Government in Ogun State on 27 September, 2022 respectively for vandalism and stealing transformer cables at Five Star Junction Apapa-Oshodi Expressway, Lagos and Otun Olori Akute area of Ogun State.

Omena was sentenced to six months imprisonment for count one, one year imprisonment for count two and three of the charge accordingly which would all run concurrently for one year with hard labour.

Omena is serving his jail terms on count one to three.

Besides,Bashir Sheu aged 28 and others at large was arrested and arraigned before Ifo Magistrate Court 2, Ifo Local Government in Ogun State on 27 September 2022.

The defendant was charged on a two-count charge on conspiracy and stealing Ikeja Electric’s transformer cables thereby committed an offence contrary to and punishable under section 390 (90) of the criminal code volume 1 Law of Ogun State. 2006.

He pleaded not guilty to the charge. The matter came up again for judgment on 18 January 2023.

Bashir was found guilty of the two-count charge and sentenced to one year imprisonment on the two counts which would run concurrently starting from 26th September, 2022 .

admin by — January 28, 2023 in Power 0
Cashless Policy: CBN Launches New Domestic Card Scheme

 Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has formally unveiled the Nigerian National Domestic Card Scheme, known as AfriGo.
The new scheme represents a significant move to strengthen the national payments system and deepen the usage of electronic platforms in Nigeria,he said at the unveiling ceremony on Thursday.
Speaking at the virtual launch of the scheme,Mr. Emefiele said it was done in collaboration with the Nigeria Inter-bank Settlement System (NIBSS) and would provide more options for domestic consumers while also promoting the delivery of services in a more innovative, cost-effective and competitive manner.
He said:”The scheme is important to plug in the gap that has remained in the economy since the introduction of the cashless policy, and will integrate the informal segment of our economy, reduce shadow banking, bring more Nigerians into the formal financial services with an attendant diversification of deposit portfolio which will further strengthen the stability of the banking industry”.
He said that, though the penetration of card payments in Nigeria had grown tremendously over the years, many Nigerians were still excluded, adding that the challenges of financial inclusion in the country were the high cost of card services as a result of foreign exchange requirements of international card schemes, as well as the inability of existing card products to address local peculiarities of the Nigerian market.
Assuring that the National Domestic card would be accessible to all Nigerians and address most of the country’s local peculiarities, he further stated that it was not a quest to prevent international service providers from continuing to provide services in Nigeria.
 He said it aimed at domestic consumers whilst also promoting the delivery of services in a more innovative, cost-effective and competitive manner.
Also speaking,the Deputy Governor (Financial System Stability) at the Central Bank of Nigeria, Mrs. Aishah Ahmad, said that the Nigerian National domestic card Scheme would lead to the sovereignty of data, saves cost on card transactions, reduce foreign exchange pressure and would present new opportunities for the Nigerian economy.
Mrs. Ahmad, who doubles as chairman of the Nigerian Interbank Settlement System (NIBSS), further said the card scheme “heralds a new vista of opportunities for the card business, that several countries continue to recognise and leverage as they create their domestic card schemes to augment existing foreign payment card rails.”
She added that the card scheme also provides an essential platform for further innovation to solve some of the most pressing issues around financial inclusion, SME payments and trade facilitation primarily, supporting the drive for a robust digital economy for the Nigerian market, the African continent and the world.
In her  overview of the card, she said the name for the national domestic card scheme, AfriGO, was birthed in Nigeria with continental aspirations, as ‘AFRI’ means culture, ethnic diversity, bravery, innovation, and growth while “GO” symbolises progress, empowerment, inclusivity, and future-forward amongst others.
The Managing Director of NIBSS, Premier Owoh, listed the security features of the AfriGO card scheme, which includes a smart chip, the CVV Code, and the NQR embedded signatures, amongst others.
admin by — January 28, 2023 in Banking&Finance 0