General
Ikeja Electric Says Customers Crucial to Achievement of Goals
By Modupe Gbadeyanka
Chairman of Ikeja Electric, Mr Kola Adesina, has explained the critical role customers play in achieving some of the goals set by the energy firm.
Mr Adesina, while commenting on the 2018 Sustainability Report of the company titled Committed to Excellence – Half a Decade of Bringing Energy to Life, stated that, “Our customers and other stakeholders are crucial to the achievement of our goals; and we believe that a business can only be deemed strong and successful when its stakeholders are satisfied with the services provided.”
Speaking further, he said in view of this, “The board will continue to support initiatives that promote its sustainability agenda while creating value in the coming years.”
Business Post reports that the 2018 Sustainability Report reflects IE’s performance, accomplishments, challenges, passion for its business and its growth opportunities in the year under review.
Being the first and only electricity distribution company in Nigeria to produce a sustainability report, the publication covers the firm’s sustainability journey post-takeover with the inherent accomplishments including rebranding, infrastructure investments, smart technology investment, business process investment and performance improvement among other successes attained from the takeover period up to December 2018.
The 2018 Sustainability Report is the fourth report published by IE in successive order, and commemorates five years of the takeover of the company’s operation by its core investors following privatization on November 1, 2013.
“The scope of IE’s sustainability reports has moved beyond merely communicating financial risks to performance reporting aimed at fostering stakeholder confidence, long-term risk management, building the Company’s reputation and refining its corporate vision and strategy.
“Through the yearly publication of sustainability reports, IE has demonstrated its commitment to accountability, responsibility and transparency, which have unarguably, distinguished the Company in the Nigerian Electricity Supply Industry (NESI),” Mr Adesina said.
“Since we took over in November 2013, we have put in place, strategies that will steer the electricity distribution arm of the electricity sector value chain to greater heights,” he added.
“We have assembled a strong leadership team with extensive experience, robust industry and consumer knowledge, focused on innovation and growth. In addition, we have reinvigorated our legacy of sustainability with the introduction of customer-centric initiatives, which are geared towards assuring all stakeholders of a business built on accountability, responsibility, transparency and fairness.
“We have demonstrated that with the right leadership, the Company can continue to grow and improve its performance as expected by all stakeholders,” the Chairman further said.
“We do not report data because it is popular, or because others do so. We track our sustainability performance because it helps us make better decisions, helps to de-risk projects, discover new opportunities and deliver real value for our business.
“We acknowledge that there is still work to be done and we will continue to do all we can to ensure we maintain our brand promise – bringing energy to life,” he noted.
Ikeja Electric said it aims to publish its Sustainability Reports on an annual basis and the intended audience for this report are key stakeholders, which include customers, employees, shareholders, suppliers, government and regulatory bodies. These stakeholders directly impact and are also directly impacted by the activities of the company.
The report, which is developed by the organisation’s Governance & Compliance Office, highlights that in 2018, the Sustainable Development Goals (SDGs) aided the company in securing its social license to operate and build the trust of its stakeholder groups.
Businesses cannot succeed in societies that fail, and as such, the company invested in the achievement of SDGs such as; ensuring healthy lives and promoting wellbeing for all at all ages; ensuring inclusive and equitable quality education; promoting lifelong learning opportunities for all; achieving gender equality and empowering women and girls.
The company also contributed to the achievement of the SDGs by providing access to affordable, reliable, sustainable and modern energy for all; building resilient infrastructure, promoting inclusive and sustainable industrialization; fostering innovation and promoting peaceful and inclusive societies for sustainable development.
Other contributions include provision of access to justice for all; building effective, accountable and inclusive institutions at all levels; strengthening the means of implementation and revitalizing the global partnership for sustainable development.
Ikeja Electric reported that within the period under review, it established better technology-driven processes, leveraged data to measure performance for a more consistent growth pattern, optimised its network to drive efficiency and enhanced its security management system.
It also deepened its Quality Health, Safety and Environment (QHSE) processes and procedures through learning and development programs such as Target Zero and QHSE at a glance which impacted positively on employees, vendors and contractors.
Over the years, the company has strengthened its stakeholder engagement and partnership to foster better relationships and maintain a social license to operate, whilst building a committed workforce by treating its employees fairly through reward and recognition initiatives put in place to incentivize the excellent performance of employees.
The 2018 Sustainability Report was organised and presented in accordance with the Sustainability Reporting Standards of the Global Reporting Initiative (GRI). The GRI Standards seek to achieve consistency amongst organizations reporting on their sustainability activities.
Full access to Ikeja Electric’s 2018 Sustainability Report is available on https://www.ikejaelectric.com/corporate-governance/ or https://bit.ly/2SDQbK6
General
Missing N210trn: Senate Orders Arrest of ex-NNPC Boss Mele Kyari
By Adedapo Adesanya
The Senate Committee on Public Accounts has ordered the arrest of the immediate past chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, for failing to appear before it to explain what he knows about the allegations surrounding of an unaccounted N210 trillion between 2017 and 2023.
The decision followed Mr Kyari’s absence at the committee’s investigative hearing into the alleged financial discrepancies.
During the session, some lawmakers appealed to the committee chairman, Mr Ibrahim Dankwambo, to grant Mr Kyari another opportunity to appear, citing reports that he was receiving medical treatment in Germany.
The appeal, however, faced stiff opposition from other committee members, who insisted that a warrant of arrest be issued against the former NNPC chief.
Leading the opposition, Mr Abdul Ningi argued that verbal explanations for Mr Kyari’s absence were insufficient and should be supported by documented medical evidence. Mr Victor Umeh subsequently moved a motion for the issuance of a warrant of arrest.
Seconding the motion, the committee’s Deputy Chairman, Mr Peter Nwaebonyi, said granting Mr Kyari another opportunity to appear voluntarily would amount to a wild goose chase.
“This is the ninth time this committee is meeting on the 19 queries raised against NNPCL by the Office of the Auditor-General of the Federation. I personally chaired three of these sessions.
“Mr Chairman, the time to issue a warrant of arrest against Mele Kyari is now because the committee must conclude its assignment and report back to the Senate,” he said.
Following a voice vote, the committee overwhelmingly adopted the motion.
Declaring the committee’s position, Mr Dankwambo directed that Mr Kyari be arrested wherever he is and brought before the panel.
Meanwhile, former NNPC Chief Financial Officer, Mr Umar Ajiya Isa, rejected claims that N210 trillion was unaccounted for, arguing that the figure exceeded the company’s total revenue during the period under review.
According to him, NNPC generated about N54.5 trillion in revenue between 2017 and 2023, making it impossible for N210 trillion to be missing.
“To be clear, if money had gone missing at NNPC during our tenure, we would not have had the confidence to publish audited accounts. For more than 40 years, those accounts were either not prepared, not published, or not submitted to the Auditor-General.
“N210 trillion is an enormous amount. NNPC’s total revenue during the period under review was about N54.5 trillion, even before deducting production costs. It is therefore impossible for N210 trillion to be missing or unaccounted for,” he said.
Mr Ajiya also dismissed claims that N5.8 billion was spent on the registration of NNPC Limited, describing the allegation as false and damaging.
“Unfounded claims cause significant damage. They affect the reputations of individuals, the company and Nigeria as a whole. International rating agencies rely on public information to assess countries, and inaccurate reports can negatively impact Nigeria’s credit rating and national interests,” he said.
He challenged those making the allegations to provide evidence in support of their claims.
As the investigation continues, the committee directed Mr Ajiya and Bala Wunti, who served as Chief Upstream Investment Officer during the period under review, to reappear before it in two weeks.
General
FCCPC Seals Premises of Solar Battery Importer at Alaba International Market
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the premises of a major importer at the Alaba International Market, Lagos, over its alleged refusal to comply with regulatory directives relating to the sale of a defective solar battery to customers.
The Southwest Zonal Coordinator of the FCCPC, Mrs Olubunmi Otti, who led the enforcement team and security operatives to the market on Tuesday, said the commission sealed the company’s premises under Section 150(4)(a) of the Federal Competition and Consumer Protection Act (FCCPA), 2018.
According to her, the action followed the company’s failure to comply with a compliance notice issued by the agency after an investigation into a consumer complaint.
Mrs Otti explained that the matter originated from a complaint involving a defective solar battery purchased and fully paid for in February 2025.
Following the complaint, she said the organisation commenced an investigation and invited the importer and the company on several occasions to appear before the commission, but they allegedly failed to honour the invitations.
She further stated that the FCCPC subsequently issued a summons compelling the importer and the company to appear, but they again failed to comply.
As part of its regulatory process, Mrs Otti said the commission later served the company with a Compliance Notice under Section 150(1) of the FCCPA, outlining the nature of the alleged violation, the remedial actions required, the deadline for compliance, and the consequences of non-compliance.
She noted that despite being duly served and granted what the commission described as a reasonable period to remedy the breach, the importer and the company allegedly failed to comply with the notice.
“Consequently, and in direct exercise of FCCPC powers under Section 150(4)(a) of the FCCPA, 2018, the Commission has today proceeded to seal these premises,” she said.
Mrs Otti explained that the law empowers the commission to shut down or close any premises where a compliance notice continues to be breached until the violation is remedied.
She emphasised that the action was not intended as a punitive measure but rather as a protective and corrective intervention aimed at ensuring compliance with consumer protection laws.
According to her, the premises will remain sealed until the commission is satisfied that the breach has been fully addressed, after which a compliance certificate will be issued in accordance with Section 150(3) of the Act.
Otti urged importers and businesses to take compliance notices seriously, warning that the law leaves little room for discretion where violations persist after regulatory directives have been ignored.
Reacting to the enforcement action, President of the Industrial Material Dealers Association, Alaba International Market, Mr Opara Martins, said officials of the commission visited his office before carrying out the enforcement exercise, which he advised them to proceed with in line with their lawful duties.
He said while he was unaware of the specific circumstances that led to the commission’s action, he could not fault the agency for carrying out its statutory responsibilities.
Mr Martins, however, described the company as reputable, adding that the importer is a key stakeholder within the Alaba business community.
He further stated that the market had not been known for practices that undermine consumer protection.
He expressed optimism that the dispute would be resolved amicably in due course.
On his part, the General Manager of the firm, Mr Tochukwu Munachukwu, insisted the company did not receive the series of letters and notices the FCCPC claimed to have served.
He described the dispute as a civil commercial matter that should be resolved through engagement and dialogue rather than public enforcement action, noting that the incident has caused embarrassment to both the company and its management.
General
Dangote Cement Host Communities in Ogun Receive Rice
By Modupe Gbadeyanka
Some vulnerable households around host communities of Dangote Cement Plc in Ogun State recently received bags of rice from the Aliko Dangote Foundation (ADF) to alleviate the burden of rising food costs on them.
Beneficiaries were mainly low-income families, elderly residents, and other vulnerable groups within 17 communities in Ibese and 36 others in Itori and Ijebu-Igbo.
The organisation distributed thousands of 10kg bags of rice to residents of the communities, who could not hide their joy at the gesture.
At several distribution points, orderly processes were put in place to ensure transparency and equitable access. Local coordinators, in collaboration with community representatives, supervised the exercise to guarantee that the items reached intended beneficiaries.
At the Ibese distribution centre, the Aboro of Ibeseland, Mr Rotimi Oluseyi Mulero, thanked Mr Dangote for the gift, describing the rice distribution as operation feed the families.
“On behalf of our people, I extend our profound gratitude to the Aliko Dangote Foundation for this timely and commendable gesture. At a time when many families are facing economic challenges, this distribution of food items will go a long way in alleviating hardship within our communities.
“We appreciate Dangote Group not only as a business partner but as a responsible corporate citizen that continues to demonstrate genuine concern for the well-being of its host communities. We pray that this partnership continues to flourish for the benefit of all.
“Today, our hearts are filled with appreciation. This support has come at a very critical time for our people. Many households are under pressure, and this intervention will bring relief and hope to families,” the traditional ruler enthused.
Also, at Itori, the Olu of Itori, Mr Abdulfatai Akorede Akamo, said his people’s hearts were filled with appreciation, saying, “This support has come at a very critical time for our people. Many households are under pressure, and this intervention will bring relief and hope to families.
“We thank Mr Aliko Dangote and his Foundation for remembering the grassroots and standing by us in times of need. We are deeply grateful for this act of kindness. May the Almighty bless the Dangote Group and increase its capacity to continue doing good for humanity.”
Speaking on the initiative, the chief executive of ADF, Ms Zouera Youssoufou, represented by the ADF Head of Operations, Mr Victor Ejiro, reaffirmed that the food intervention programme reflects the organisation’s long-standing dedication to food security and poverty alleviation, particularly during periods of economic strain.
“This intervention is designed to provide immediate relief to households grappling with high food prices. As a socially responsible organisation, we recognise the importance of supporting our host communities beyond business operations.
“At the Aliko Dangote Foundation, we recognise the current economic realities facing many Nigerian households. This intervention is aimed at providing immediate relief while reinforcing our long-standing commitment to the well-being of our host communities.
“We understand the difficulties families are facing at this time. This support is our way of standing with our communities and ensuring that no household is left behind during these challenging times. Sustainable development goes beyond business operations. Through this programme, we are strengthening community resilience and contributing to national efforts to improve food access and social stability,” she stated, adding that the intervention is focused on delivering real, immediate support to vulnerable households, promising to expand it to more families.
The initiative forms part of the foundation’s National Food Intervention Programme aimed at cushioning the effects of prevailing economic challenges on ordinary Nigerians.
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