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African Alliance to Host NCRIB South-South Area Committee, Rewards Journalist

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African Alliance Bala Augie Joyce Ojemudia

By Modupe Gbadeyanka

Winner of a raffle draw held when African Alliance Insurance Plc hosted the Nigerian Council of Registered Insurance Brokers (NCRIB) Members’ Evening in Lagos, Mr Bala Augie, has finally received his prize.

Mr Augie, a journalist in Nigeria, emerged the star prize winner of a year-long Term Assurance Plan during the raffle draw session of the programme.

During the presentation of the prize to him, the Managing Director/Chief Executive Officer of African Alliance Insurance Plc, Mrs Joyce Ojemudia, charged him to be an ambassador of insurance in Nigeria.

“We are honoured to present this Term Assurance plan to you, one of our bestselling products which assures those you care for are not left in a lurch come what may.

“Consider this also as a token of our commitment to your craft and a promise to be your partner as you continue to deliver on your editorial duties.

“Though you had left before you were announced as the winner, for us as a firm that has been in the business of trust for some 62 years, we considered that a test of our professionalism and trust, hence the decision to do this at this time.

“Congratulations to you, we hope you would help us spread the gospel of insurance in general and African Alliance Insurance in particular,” she said.

In his response, Mr Augie thanked African Alliance Insurance for the kind gesture, saying, “I am happy to be the winner of this policy and it shows African Alliance is in the forefront of ensuring customers get proper and adequate coverage.

“I also commend the sincerity of the company as it continues to meet its obligations to policyholders even amidst a myriad of challenges. With excellent information channels that ensure people in the rural areas are aware of these products, African Alliance is pivotal to deepening insurance penetration in Nigeria.”

Meanwhile, the foremost life insurer will host NCRIB South-South Area Committee on March 9, 2022, at The Atrium in Port Harcourt, Rivers State in continuation of its Brokers Roadshow.

“This is a follow-up on the earlier hosting in Lagos in February and we look forward to having the members of the South-South Area Committee join us as we present our strategic plans towards being a most agreeable partner to them,” said Mr Bankole Banjo, the Brand, Media and Communications Manager, African Alliance Insurance Plc.

Incorporated in 1960 to transact life businesses in Nigeria, African Alliance Insurance Plc has been providing succour for individuals and aiding businesses across the country for over six decades. In the year 2021 alone, the firm paid out in excess of N7.56 billion genuine claims to her policyholders.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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World Banks Debar Three PwC Subsidiaries for 21 Months Over Project Fraud

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PwC Nigeria

By Adedapo Adesanya

Three African subsidiaries of global advisory firm, PricewaterhouseCoopers (PwC), have been debarred by the World Bank Group for 21 months after being found guilty of manipulating procurement processes for a major cross-border electricity project.

In a statement on Wednesday, the Washington-based multilateral lender said PricewaterhouseCoopers Associates Africa Ltd, based in Mauritius, along with its Kenyan and Rwandan affiliates, engaged in “collusive and fraudulent practices” linked to the Eastern Electricity Highway Project, a flagship initiative to transmit hydropower from Ethiopia to Kenya.

The decision sidelines PwC from lucrative World Bank-funded projects on the continent, dealing a blow to one of the region’s most influential audit and advisory firms.

This development could reshape competition for high-value consulting work across emerging markets, potentially disrupting startups and tech firms reliant on World Bank funding, as scrutiny over governance and compliance tightens.

The World Bank, through its private sector arm, International Finance Corporation (IFC), offers grants and low-interest loans to startups across emerging markets.

Earlier this week, the IFC committed $20 million to invest in high-growth startups in Kenya, Nigeria, and South Africa.

“The debarment makes PwC Associates, PwC Kenya, PwC Rwanda, and any affiliates they control ineligible to participate in Bank Group-financed projects and operations,” the World Bank said. “It is part of a settlement agreement under which the three companies admit culpability for sanctionable practices.”

The determination was based on the company’s conduct between 2019 and the award of contracts for consultancy services and asset valuation work for the Ethiopian state power utilities.

According to the World Bank statement, the firm obtained confidential procurement documents to improperly influence the award of a contract for the implementation of International Financial Reporting Standards at the Ethiopian Electric Power Corporation.

They also attempted to steer a separate contract for a fixed asset inventory and revaluation for the power utility towards PwC Associates. During the bidding and execution of that contract, the bank found that the company misrepresented the availability and qualifications of key experts and failed to disclose the full list of subconsultants involved.

According to the World Bank, the debarment is shorter than would otherwise apply because PwC admitted misconduct. The advisory firm also agreed to a series of remedial measures, including internal investigations, disciplinary action against responsible staff, terminating relationships with all subconsultants involved, and additional staff training.

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Nigerians Can Film Police on Duty—Court Declares

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film police on duty

By Aduragbemi Omiyale

A Federal High Court in Warri, Delta State, has affirmed the right of Nigerians to film personnel of the Nigeria Police Force (NPF) on duty.

The judgment was given by Justice H. A. Nganjiwa on Tuesday in a case filed by Mr Maxwell Uwaifo in suit number FHC/WR/CS/87/2025.

The court held that Nigerians have the constitutional right to use any device to record police officers executing their official duties in public.

It was ruled that police officers must wear visible name tags, display their force numbers, and must not harass, intimidate, arrest, or seize devices from citizens documenting their activities.

The court awarded the applicant N5 million in damages for the violation of his fundamental rights and N2 million for the cost of litigation.

Business Post reports that the respondents in the case were the Inspector General of Police (IGP), the NPF, the Police Service Commission (PSC), and the Attorney-General of the Federation (AGF).

The lawyer filed the case in accordance with Sections 34, 35, 36, 37, 38, 39, 40, and 41 of the Constitution of Nigeria and others.

“This judgement has significant implications for policing standards, civil liberties, and public accountability across Nigeria,” Mr Uwaifo said after the judgement.

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Lagos Consumes 30% of Total Power Off-Take in Nigeria—TCN

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TCN EKEDC Total Power Off-Take in Nigeria

By Aduragbemi Omiyale

The General Manager in charge of Transmission for Lagos Region of the Transmission Company of Nigeria (TCN), Mr Adeshina Adeonipekun, has stressed the critical role of Lagos in the national grid.

While receiving the chief executive of Eko Electricity Distribution Company (EKEDC), Ms Wola Joseph Condotti, at his office on Monday, he said the Lagos region accounts for about 30 per cent of total power off-take in Nigeria.

He stated that TCN was implementing strategic expansion and project upgrades aimed at enhancing grid stability and operational efficiency in response to rising demand.

Mr Adeonipekun highlighted recent key milestones achieved in the region, including the commissioning of a 100MVA power transformer at the Ijora 132/33kV Transmission Substation, a 300MVA transformer at the Lekki 330/132kV Transmission Substation, and a 125MVA unit at the Agbara 132/33kV Substation, among others.

According to him, these additions have further increased the region’s installed capacity to 5,470MVA on the 132/33kV network and 4,110MVA on the 330/132kV network.

He further said that there were several ongoing rehabilitations at key substations within the region, including Amuwo GIS, Akoka 132/33kV, and Itire 132/33kV Transmission Substations, all geared towards further improving reliability, reducing system constraints, and enhancing the overall efficiency of power delivery.

In her remarks, Ms Condotti expressed appreciation for TCN’s continued partnership and support, underscoring the importance of sustained collaboration between transmission and distribution companies in building a more stable and efficient electricity transmission and supply network.

Both parties explored ways to strengthen collaboration and ensure a more stable and efficient power supply in Lagos, the nation’s commercial hub.

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