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NGX Group Obtains EDGE Certification

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NGX Group Shares

By Aduragbemi Omiyale

The Nigerian Exchange (NGX) Group Plc has been awarded the EDGE certification, becoming the first exchange group globally and the first indigenous organization to be EDGE certified.

NGX Group was certified at the EDGE Assess level, which highlights the progress the company has made on diversity, equity, and inclusion and its commitment to ensuring equal opportunities across its talent pool.

EDGE stands for Economic Dividends for Gender Equality. It is the leading global standard for Diversity, Equity, and Inclusion (DE&I), centred on a workplace gender and intersectional equity approach.

The certification process involved employee surveys, analysis of group-wide workforce statistics, focus group discussions, and a rigorous third-party audit of all data provided by the company and its policies and practices related to diversity, equity, and inclusion.

Commenting on the feat, the Group CEO of NGX Group, Mr Oscar Onyema, said, “We are thrilled to have achieved yet another first in our efforts to promote gender equality and champion Africa’s sustainable development.”

“This certification demonstrates our dedication to creating an inclusive, equitable, and diverse workplace. At NGX Group, we believe that diversity and inclusivity are fundamental to our success.

“With the EDGE certification, we now benefit from being verified against global best standards as we continually measure and benchmark progress around gender equality,” he added.

“From a governance standpoint, commitment to gender equality is not only the right thing to do but the best thing to do, as it drives better business results.

“As a central player in the capital market, we remain resolute in our effort to galvanise the ecosystem for sustainable impact through our wholly owned subsidiaries, Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo) and NGX Real Estate Limited (NGX RelCo), and other key stakeholders. This starts with building a workplace that is inclusive and equitable for all our employees,” Mr Onyema further stated.

Kalim M. Shah, IFC’s Senior Country Manager for Nigeria, Liberia and Sierra Leone said, “Stock exchanges play a crucial role in driving gender equality in the private sector, unlocking business opportunities and promoting economic development.

“IFC is pleased to have supported the Nigerian Exchange Group as the first stock exchange globally to attain the EDGE Gender Certification, creating stronger transparency and accountability for its role in championing workplace gender parity in Nigeria, and serving as a model for other exchanges across Africa and globally.”

Aniela Unguresan, Founder, EDGE Certification Foundation, said “Through the certification process, the Nigerian Exchange Group has strengthened its foundation for promoting gender equity in the organization. The attainment of the EDGE Assess Certification is a clear indication of the Nigerian Exchange Group’s commitment to implementing intentional, prioritized, and measured actions towards achieving greater gender equity in the workplace.”

The EDGE certification is globally renowned for its extensive focus on analysing business practices through an impact lens. It lends further credence to NGX Group’s gender leadership in the capital market as it drives impact in partnership with International Finance Corporation (IFC) on the Nigeria2Equal (N2E) project.

The conferment of EDGE Assess has also provided a quantifiable and qualitative outlook to the combined efforts of NGX Group of companies and IFC on closing the gender inclusion gap in the private sector and mainstream more opportunities for women, without leaving men behind. Gender champions under N2E can now follow the lead of NGX Group to enable better conditions for their workforce and push for equitable outcomes.

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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FG Insists Prepaid Meter is Free, Warns Nigerians Against Payment

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Ikeja Electric Prepaid meter

By Adedapo Adesanya

The federal government has reaffirmed that electricity meters being deployed under the Distribution Sector Recovery Programme (DISREP) are free for customers, warning Nigerians not to pay any money for meter supply or installation.

The Director General of the Bureau of Public Enterprises (BPE), Mr Ayodeji Ariyo Gbeleyi, stated this in Abuja at a joint media briefing on DISREP with the managing directors of Nigeria’s 11 Electricity Distribution Companies (DisCos). DISREP is financed through a $500 million World Bank facility.

The DG said the concessional nature of the funding, which comes at single-digit interest rates, makes it more sustainable than commercial borrowing and supports long-term stability in the power sector.

Under the DISREP IPF, 3.2 million smart meters are being procured and installed nationwide over four years through competitive international and local bidding. According to him, close to 700,000 meters have already been delivered, while about 200,000 have been installed across different DisCos.

The DG said, “With DISREP and other Federal Government interventions, the journey to power sector reliability is underway. DISREP is not just a short-term intervention, but part of a broader and coordinated plan of the Renewed Hope Agenda of President Bola Ahmed Tinubu, GCFR, towards building a financially viable and service-oriented electricity market

“Nigerians deserve a power sector that works, one that delivers reliable electricity, protects consumers, ensures value for money, and supports economic growth.

“Together, we shall achieve that! The supply and installation of these meters for customers is free.

It was also disclosed that the government had already paid the contractors to supply and install the meters. DISREP is integrated with other metering initiatives, including the Presidential Metering Initiative and the Meter Acquisition Fund, to accelerate the closing of Nigeria’s metering gap.

On his part, the Managing Director of Abuja Electricity Distribution Company, Mr Chijioke Okwuokenye, warned customers not to pay for meters.

“These meters are to be deployed and installed freely. Anybody asking you to bring money should be reported,” he said.

MD of Eko Electricity Distribution Company (Eko Disco), Mrs Wola Joseph-Condotti, said the company is working closely with the authorities to weed out bad eggs who extort money from customers for meter procurement and installation.

The programme offers significant benefits to consumers, including the removal of upfront meter purchase and installation costs, accurate billing, the elimination of arbitrary estimated billing, improved service accountability by DisCos, better transparency and dispute resolution, and long-term improvements in supply reliability as the sector becomes more financially viable.

For DisCos, Mr Gbeleyi said DISREP provides access to concessional World Bank financing for metering and network upgrades, reduces Aggregate Technical, Commercial and Collection (ATC&C) losses, improves liquidity and revenue assurance, and strengthens operational performance for long-term investment.

He disclosed that $250 million of the facility is dedicated to Investment Project Financing, which supports bulk procurement of the 3.2 million smart meters, deployment of Meter Data Management Systems, and provision of technical assistance and capacity-building programmes to strengthen DisCos’ operations and processes.

Describing DISREP as a landmark transaction, Mr Gbeleyi said it is the first initiative of its kind in which the government, beyond investing in distribution network infrastructure, is deploying meters at scale to bridge the country’s metering gap. He cited official figures showing that Nigeria currently has about 5.66 million unmetered electricity customers.

“The plan is to quickly close that gap. These meters are for everybody. They are for Nigerians. Priority is on unmetered customers,” he said.

He clarified that while the policy targets unmetered customers, DisCos have been allowed to deploy up to 20 per cent of the meters to replace faulty or technologically obsolete units, following feedback from the field.

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NSC Revamps PSSP to Solve Complaints, Boost Ease of Doing Business in Ports

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Port Service Support Portal

By Adedapo Adesanya

The Nigerian Shippers’ Council (NSC) has successfully concluded the review of the Port Service Support Portal (PSSP) application, which is aimed at ensuring seamless handling and efficient resolution of stakeholders’ commercial disputes across the maritime sector.

The Head of NSC-ICT, Mr Benjamin Ivwigheghweta, and his team; the Head of the Complaints Unit, Mr Bashir Ambi and his team; as well as consultants from BrandOne, all collaborated to complete the platform’s final implementation stage.

Mr Ivwigheghweta expressed satisfaction with the successful integration of the revamped PSSP for streamlined dispute resolution. He encouraged the team to fully engage with the new system and to ask questions where necessary, ensuring that every member is well equipped to meet stakeholder needs with precision and efficiency.

On his part, Mr Ambi applauded the deployment of the PSSP as a tool for accelerating grievance resolution, adding that the platform would significantly strengthen the council’s dispute resolution framework by promoting transparency, boosting stakeholder confidence, and generating reliable, data-driven records to support national economic growth.

He further commended the ICT team for its unwavering support-particularly in ensuring extended network availability to support the Unit’s after-hours operations.

Describing the PSSP as a critical modern upgrade for dispute resolution, Mr Ambi revealed that the Council’s operations are now about 90 percent digital. “We rely heavily on electronic platforms to serve our stakeholders,” he said, adding that the ICT Unit has remained the backbone of these efforts by providing consistent support, even over weekends, to ensure uninterrupted online service delivery.

This digital-first approach, he noted, keeps the NSC at the forefront of maritime efficiency.

Following a productive three-hour technical review and interactive question and answer session, the PSSP is now in its final phase.

The next steps include the configuration of individual user access by the ICT Unit and a live demonstration of the platform to Management. Upon completion of these tasks, the council will be ready to go live-ushering in a new era of digital efficiency in port service delivery.

The Port Service Support Portal was officially launched by the former Vice President, Mr Yemi Osinbajo, in June 2016 in Abuja. The launch was held alongside the unveiling of the Port Harmonized Standard Operating Procedures (SOPs). The portal was designed as an online, real-time platform to enhance service delivery, address stakeholder complaints, and curb corruption at Nigerian ports.

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Tinubu Deploys Army to Kwara, Condemns Terrorist Attack

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kwara state map

By Adedapo Adesanya

President Bola Tinubu has deployed an army battalion to Kaiama district in Kwara State after suspected jihadist fighters killed about 170 people in an overnight attack on Tuesday.

The terrorists stormed Woro and Nuku communities in Kaiama Local Council, according to Kwara State lawmaker, Mr Saidu Ahmed.

The violence highlights fears that jihadist factions prevalent in Northern Nigeria are pushing south along the Niger-Kwara axis toward the Kainji forest.

According to a statement from the Presidency, the new military command will spearhead Operation Savannah Shield to checkmate the barbaric terrorists and protect defenceless communities.

He condemned the attack as “cowardly and barbaric,” saying the gunmen targeted villagers who had rejected attempts to impose extremist rule.

“It is commendable that community members, even though Muslims, refused to be conscripted into a belief that promotes violence over peace,” President Tinubu said in the statement.

The President urged collaboration between federal and state agencies to provide succour to members of the community and ensure that those who committed the atrocities do not go scot-free.

President Tinubu prayed for the repose of the souls of the deceased and condoled with those who lost family members as well as the people and government of Kwara State.

Similarly, suspected bandits stormed Doma community in Tafoki Ward, Katsina State, on Tuesday afternoon, killing several residents, injuring many others and setting vehicles and houses ablaze.

There were conflicting figures over the casualty toll, with police putting the number of deaths at 13, while the executive chairman of Faskari Local Council estimated more than 20.

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