Eze Fires Back at Magnus Abe for ‘Insulting’ Amaechi

By Adedapo Adesanya Nigeria will develop a new integrated national electricity policy and strategic implementation plan, as mandated by the Electricity Act 2023, according to the Minister of Power, Mr Adebayo Adelabu. President Bola Tinubu had on June 9 assented to the Electricity Bill, now an Act empowering states, companies and individuals to generate, transmit and distribute electricity. This, in turn, repealed the Electric Power Sector Reform Act (EPSR A), 2005 and create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply Industry (NESI). Mr Adelabu, while speaking on Monday at the Nigeria Electricity Management Services Agency

By Adedapo Adesanya Global energy company, GE Vernova, has used a series of events during Compliance Week to emphasise the critical role of ethics and compliance in business growth and success. The week-long initiative, held across Nigeria with more than 100 attendees, involved employees, suppliers, legal experts, and customers, highlighting GE Vernova’s unwavering commitment to fostering a culture of integrity and transparency. Speaking on this, Mrs Ozim Ifeoma Ibeziako, Executive General Counsel for GE Vernova’s Gas Power business in Africa, said, “At GE Vernova, we believe that integrity is the cornerstone of any successful business. “Our Compliance Week is an

By Adedapo Adesanya A Federal Capital Territory High Court, Abuja, has adjourned an alleged procurement fraud case involving ex-Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, to January 18 and 19, 2024, for continuation of trial. Mr Emefiele is standing trial on a six-count amended charge on alleged procurement of vehicles to the tune of N1.6 billion. He had pleaded not guilty to the charges. He was granted bail on November 17, 2023, to the tune of N300 million, and two sureties and remanded at the Kuje Correctional Centre, pending when he meets his bail conditions. However,

By Adedapo Adesanya The Nigerian Communications Commission (NCC) has reiterated that the sale, installation and usage of GSM boosters in the country is illegal. The main aim of the GSM booster is to take the existing cell phone signal around places, car, office, workstation or home and amplify it. After amplification, the signal is rebroadcasted to the area with no reception or weak signal. In a pre-enforcement notice published on its official website, the commission informed the general public, particularly banks and other financial institutions, government agencies, telecommunications service providers, private/public companies, and owners/occupiers of residential premises that the unauthorized

By Kester Kenn Klomegah Russian Foreign Minister Sergey Lavrov has held substantive and productive diplomatic talks with his counterpart, Minister of Foreign Affairs and International Cooperation of the Republic of Sierra Leone, David John Francis, during his first foreign visit in his new post to Moscow, Russia. According to official reports, David Francis has visited the Russian Federation, and last participated in the first Russia-Africa summit in October 2019. His mid-May visit was to find ways to expand relations forward between Russia and Sierra Leone, the country that marked its 60th independence on April 27. Historically, the Soviet Union and

By Adedapo Adesanya The World Bank has cautioned that the coronavirus (COVID-19) pandemic may push up to 60 million people into extreme poverty globally, wiping out the gains made in recent years. According to the Bretton Wood institution on Tuesday, many countries will bear the plight brought about by the pandemic and force those who earn under $1.90 per day into economic hardship. “The pandemic and shutdown of advanced economies could push as many as 60 million people into extreme poverty, erasing much of the recent progress made in poverty alleviation,” said World Bank Group President, Mr David Malpass. Mr

By Aduragbemi Omiyale Wema Bank Plc has confirmed that it will begin the process of raising fresh funds through the rights issue in the third quarter of 2023. A rights issue is the process of sourcing capital from existing shareholders by offering them the opportunity to acquire additional shares of the company at a specified price. The Managing Director of Wema Bank, Mr Moruf Oseni, while commenting on the financial performance of the lender in the first half of this year, said the company was confident about raising funds from the beginning of next month, especially because of improved stability

By Adedapo Adesanya The Eko Electricity Distribution Company (EKEDC) has been rated as the best performing Electricity Distribution Company in Nigeria. This was made known by the Chairman and Chief Executive Officer of the Nigerian Electricity Regulatory Commission (NERC), Mr James Momoh, during an oversight visit to the corporate headquarters of the organisation in Marina, Lagos. Mr Momoh noted that based on some parameters, the company, one of the two DisCos that serves Lagos State and some parts of Ogun State, emerged the pacesetter among its peers. In his words, “Since I assumed office as the Chairman of NERC, Eko

Easy and seamless payments are one of the key concerns for large retailers. As new technologies emerge, and the payments ecosystem evolves, retailers must stay ahead of customer expectations around availability, channel variety, and ease-of-use. “The payment environment in retail must not only ensure high availability and performance but is also a key part of optimising business services, extending into important value propositions such as customer experience,” says Deon Van Biljon, Chief Operations Manager at Stanchion Payment Solutions. A key element of customer service for retailers is the payments environment. A smooth and seamless payment experience is essential to a

By Adedapo Adesanya Several Nigerian farmers’ groups have come together to call on the new administration of President Bola Tinubu to use the billions of Naira in savings from fuel subsidy removal to develop the nation’s agriculture sector. They proposed the disbursement of these funds through the National Agriculture Development Fund (NADF). The coalition’s position was contained in a statement signed by the President of the Young Farmers Network (YFN), Mr Abubakar Bamai, and a host of others on Thursday. The group stated that investing the subsidy funds in the agriculture sector would enhance productivity and end food insecurity in

By Dipo Olowookere The acquisition of Sepura Group Plc, a firm in Cambridge, United Kingdom, which is a leading provider in TETRA products and solutions for organizations worldwide, has been completed by Hytera Communications Corporation Limited, the leading global provider of innovative professional mobile radio (PMR) communications solutions. “The PMR communications industry is seeing rapid evolution, and Hytera leads in incorporating new technologies and attractive features that deliver more effective solutions for our customers,” said Mr Qingzhou Chen, founder, chairman and president of Shenzhen, Guangdong-based Hytera. “Adding the Sepura Group complements our strengths in technological innovation, especially in TETRA, along