General
IBEDC Begins Distribution of Smart Meters in Ogun
By Ahmed Rahma
The Ibadan Electricity Distribution Company (IBEDC) has commenced the distribution of smart prepaid meters to customers under its franchise in Ogun State.
The programme, which kicked off Thursday, was launched by the Head of Metering of IBEDC, Mr Adewale Obajemu, at Ota.
According to Mr Obajemu, the federal government plans to distribute one million meters to unmetered electricity customers across the country in phase zero of the scheme.
He disclosed that the distribution would be made by the Electricity Distribution Companies (DisCos), adding that IBEDC would distribute 104,000 of the meters to customers in its franchise.
Mr Obajemu said IBEDC had partitioned the entire Ogun area into different groups and that every area would be covered.
He said, “This is phase zero of the programme, which is like testing the grounds. We will soon move to phase one.
“We have about 350,000 customers in Ogun but a good number of them had earlier been metered.
“We will ensure that the process is transparent and sincere to enhance the cooperation of the people,” he said.
Mr Obajemu explained that the meters would be installed, notwithstanding the outstanding bill of any customer.
He, however, stated that customers with outstanding bills would be expected to contact the firm not later than 30 days after installation to discuss such bills, failure of which, he said, such outstanding would be factored into subsequent energy purchases.
The IBEDC official also explained that customer’s Bank Verification Number (BVN) would be required before installation for accounting purpose.
Mr Obajemu stressed that customers must ensure that their service cables were up to standard, saying that it must be, at least, 16 mm and should not extend into the ceiling to prevent tampering.
He warned that meters must only be serviced by technicians of IBDEC and not just any power engineer.
“If you have any issue with the meter, please contact our customer care numbers or our office closest to you.
“If anybody should work on the meter, that will amount to tampering and such customers will face the full wrath of the law.
“Please note that the meters have in-built security seals and tampering sensing devices to detect tampering,” he said.
He explained that the meters were entirely free of charge and pleaded with the customers not to pay anyone for installation.
The IBEDC chief, therefore, appealed to customers to exercise patience, adding that every area targetted under phase zero would have been covered by the end of March.
Mr Segun Daodu, the Chairman of Ifesowapo Community Development Association (CDA), where the programme was launched, commended the federal government for the initiative.
He expressed optimism that the development would bring an end to the challenges associated with estimated billings while assuring that the community, through its WhatsApp platform, would continue to educate and dissuade its members from tampering with the meters after installation.
By Adedapo Adesanya
Justice Emeka Nwite of the Federal High Court in Abuja has affirmed the final forfeiture of $13 million linked to a Lagos socialite, Ms Aisha Achimugu, and her company, Oceangate Engineering Oil & Gas Limited, to the federal government of Nigeria.
Delivering judgment, Justice Nwite held that the Economic and Financial Crimes Commission (EFCC) established that the foreign currency was proceeds of fraud and unlawful activities.
The judge further held that Oceangate Engineering Oil & Gas Limited failed to establish how it came by the money, saying the anti-money laundering agency satisfied all requirements for the funds to be classified as proceeds of fraud and to be forfeited to the appropriate authority.
He dismissed the claims that the $13 million was gifts received into the Oceangate Engineering Company by Ms Achimugu, adding that the woman never came to the court to show cause why the huge amount of money should not be forfeited to the government.
He held that no single person who gave the monetary gift to Aisha Achimugu to the tune of $13 million was called to testify.
The judge further held that the burden to establish genuine ownership of the money was not established by the applicant to counter the claims of the anti- graft agency that the money was the proceeds of fraud based on its investigation.
According to the judge, Oceangate Engineering Company did not show the business it undertook that fetched it the money, nor did it show whether any payment was made to it by any of its customers.
Justice Nwite had, on August 22, 2025, granted the anti-graft agency’s motion ex parte for an interim order forfeiting the sum of $13 million linked to Oceangate Ltd to the Federal Government over allegations that the fund was proceeds of unlawful activity.
The judge had then directed the commission to publish the order in a national daily for interested people to show cause within 14 days why the fund should not be permanently forfeited to the federal government.
By Adedapo Adesanya
The federal government has inaugurated a 17-member Planning Committee to coordinate the National Flag-Off of the Energise Commercialisation Now (ECoN) Initiative, a flagship programme aimed at transforming research outputs into economic value.
Speaking at the inauguration in Abuja, the Permanent Secretary of the Ministry of Innovation, Science and Technology, Mr Philip Ndiomu Ebiogeh, described the initiative as a strategic intervention to convert Nigeria’s vast research and innovation outputs into market-ready products, scalable enterprises, and job-creating opportunities.
He noted that ECoN will mobilise stakeholders nationwide to identify bankable innovations and accelerate their transition from laboratories to the marketplace, stressing that the country must move beyond theoretical research to practical solutions that drive industrial growth and national prosperity.
The Permanent Secretary disclosed that the Minister of Innovation, Science and Technology, Mr Kingsley Tochukwu Udeh, had earlier briefed the First Lady, Mrs Oluremi Tinubu, on the initiative and proposed her as a champion of the programme, with the national flag-off scheduled for Kano State.
He explained that Kano was deliberately selected due to its historic role as a commercial and industrial hub, offering strong potential to attract investment, stimulate enterprise, and create jobs.
The Committee is chaired by the Minister, with the Permanent Secretary as Co-Chairman, while the Director-General, National Biotechnology Research and Development Agency, NBRDA, and the Director-General, Sheda Science and Technology Complex, SHESTCO, serve as Alternate Chairmen.
Members include Professor Nnayelugo Ike-Muonso, Dr Kazeem Kolawole Raji, Dr Jummai Adamu, Dr (Mrs) Obiageli Amadiobi, Dr Kabiru Mu’azu, Dr Anwal Mustapha, Engr Ibiam Oguejiofo, Mr Moses Fatogun, Mr Adamu Sulaiman (a representative of SMEDAN), Dr Prince Lawrence Eze, Mr Sani Garba, Dr Muhammad Mustapha, Dr Chioma Okeke, Mr Luther Onyemkpa, Mr Charles Egumgbe, and Dr Nwankwo Nnenna serving as Secretary.
The national flag-off is proposed for late April or early May 2026, subject to Presidential approval.
The Ministry reaffirmed its commitment to positioning innovation as a key driver of economic diversification and sustainable development, in line with President Bola Tinubu’s Renewed Hope Agenda.
By Adedapo Adesanya
Switzerland-headquartered global shipping giant, Mediterranean Shipping Company (MSC), has complied with the directive of the Nigerian Shippers’ Council (NSC) to suspend the implementation of its new tariff pending consultations with stakeholders.
In a customer advisory titled Temporary Suspension of New Tariff Implementation, the shipping line stated that the tariff regime in place before the recent increase would remain effective until further notice.
Business Post reported a few days ago that freight forwarders picketed the offices of MSC, protesting the recent increase in shipping line tariffs. They blocked the regulators from accessing the MSC premises to address the matter.
Despite the protests, the council’s attempt to engage the aggrieved freight forwarders in discussions was resisted, as the protesters insisted that there was no basis for dialogue and vowed to continue the protest until the increased charges were immediately reversed.
In the latest directive, the shipping company said, “We wish to inform our esteemed customers that the recently implemented tariff adjustment has been temporarily suspended, following a directive from the NSC. This suspension is pending the conclusion of ongoing engagements and resolution with the regulator.”
“Accordingly, the tariff regime applicable prior to the recent increase will remain in force until further notice, as mandated.”
The company further assured customers that updates would be communicated once a final decision is reached by the Nigerian Shippers’ Council.
“We remain fully committed to regulatory compliance, transparency, and protecting the interests of our customers. Further updates will be communicated promptly once a definitive position is issued by the Nigerian Shippers’ Council. We appreciate your understanding and continued cooperation,” the advisory added.
NSC had warned that prolonged industrial disputes within the maritime sector could disrupt port operations and negatively impact trade and economic activities.
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