PHEDC Seeks Police Assistance to Arrest Meter Bypass Offenders

Image

By Adedapo Adesanya

The Port Harcourt Electricity Distribution (PHEDC) has sought the assistance of the Rivers State Police Command for the prosecution of meter bypass offenders in the state.

The energy distribution firm said it took this step because of the rising cases of energy theft in Port Harcourt as well as the regular financial sabotage and the willful destruction of critical power assets.

According to the Head of Corporate Communications at PHED, Mr John Anonyai, the company was lucky to get hold of one of its customers in the act.

He described the suspect as a high profile politician in Rivers State, who was caught in a high-level meter bypass through a deliberate diversion of electricity from the main source to his property illegally, with the intention of avoiding payment of bill.

Mr Anonyai warned that PHED is prepared to apprehend anyone caught in meter bypass irrespective of the individual’s status in society.

“From the investigation by the Revenue Protection Department, it was gathered that the said consumer has been involved in this act of meter bypass for a long time and has constantly denied PHED officials access to his premises for a routine check until he ran out of luck.

“It is important to note that this politician has set precedence because his action could encourage other members of the public to engage in meter bypass as observed from the alarming trend of meter bypass recorded in recent months.

“Consequently, due to this trend, PHED loses over N2.5 billion to meter bypass monthly which is impacting negatively on our operations to distribute electricity to other responsible customers,” he said.

Mr Anonyai recalled that the company’s Managing Director, Mr Henry Ajagbawa, had appealed to customers through print and electronic media to dissociate themselves from meter bypass as such an atrocious act is a punishable offence under the law.

“Dr Ajagbawa cited the ESPRA Act (2005), Miscellaneous Offences Act and the Nigerian Criminal Code as enshrined in the constitution to prosecute crimes of a meter bypass and other practices inimical to the operations of service providers.

“PHED is prepared to apprehend anyone caught in meter bypass irrespective of the individual’s status in the society noting that this will serve as a deterrent to others,” he quoted the company’s CEO as saying.

Share
Related Stories
Image
16-February-2024

Shell Deepens Nigerian Investments in Deepwater, Gas, Renewables

By Adedapo Adesanya As it moves away from its onshore assets, Shell is working to extend the life of the Bonga Floating, Production, Storage, Offloading (FPSO) vessel for another 15 years to handle more production from Nigeria’s first deep-water development. The deep-water project came on stream in November 2005 and the extension project is coming at a time when the company is exploring opportunities in deep-water, gas, and renewables in Nigeria where it pioneered oil and gas production more than 60 years ago. Speaking at a panel discussion at the ongoing 8th Sub-Saharan Africa International Petroleum, Exhibition and Conference (SAIPEC)

Image
21-February-2024

DSS Warns Organised Labour To Shun Planned Protest

By Adedapo Adesanya The Department of State Services (DSS) has urged Nigerians planning to protest next week led by organised labour to halt the idea. According to a statement from the spokesperson of the Nigerian secret police on Wednesday, Mr Peter Afunanya, there were plans by sections of the organised labour to stage protests in parts of the country over sundry economic issues between February 27 and 28, 2024 “While the Service recognises such action as the legitimate right of the labour movement, it, however, urges the body to shelve the plan in the interest of peace and public order,”

Image
20-February-2024

Group Urges Tinubu, NNPC, Others to End Gas Flaring in Ubeji Community

By Modupe Gbadeyanka President Bola Tinubu has been charged to put an end to gas flaring in Ubeji, a community in the Warri South Local Government Area of Delta State. This call was made by a group of Non-Governmental Organisations (NGOs) and media professionals comprising the Social and Economic Justice Advocacy (SEJA), Web of Support Youth Development Program Nigeria, and Advisors Reports.Com. In a statement on Tuesday in Lagos, the consortium also appealed to the Nigerian National Petroleum Company (NNPC) Limited to do everything within its power to save the inhabitants of the sleepy satellite community located around the Warri

Image
18-February-2024

SERAP Seeks NNPC’s Clarity on Missing $2.04bn, N164bn Oil Revenues

By Adedapo Adesanya The Socio-Economic Rights and Accountability Project (SERAP) has called on the Nigerian National Petroleum Company (NNPC) Limited to provide an account and clarification regarding the alleged disappearance of $2.04 billion and N164 billion in oil revenues within seven days. In a statement dated February 17, 2024, and signed by its deputy director, Mr Kolawole Oluwadare, the rights group urged Mr Mele Kyari, the Group Chief Executive Officer of NNPC Limited, to identify and publicly denounce those accountable for the missing oil funds, as highlighted in the most recent annual report released by the Auditor-General of the Federation.

More Stories
Image
19-September-2016

Lagos Assembly Deliberates On Sports Trust Fund

By Dipo Olowookere Lagos State House of Assembly Committee on Youths, Sports and Social Development at the weekend held a stakeholders’ forum on a bill for a law that will provide for the establishment of the Lagos State Sports Trust fund and for connected purposes. Also at the event, stakeholders brainstormed on ‘A bill for a law to provide for the establishment of the Lagos State Sports Commission and for connected purposes’. These two bills, which have gone through the first and second readings on the floor of the House, were perused and recommendations made by stakeholders at the Lateef

Image
12-March-2019

Why Investors Should Quickly Buy These Stocks

By Dipo Olowookere Retail investors in the Nigerian equities market have been urged to jump into train to take advantage of the low prices some stocks are presently trading. Giving this advice was Managing Director of APT Securities, Mr Garba Kurfi, in an interview with Vanguard Newspapers. Mr Kurfi said, “I think the retail investors should take advantage of the market. Most of the stocks are trading in lower Price/Earnings (PE) ratio and when you look at the earnings, most of them are trading at PE (x) ratio of 3.4, which is far below what is obtainable in other frontier

Image
28-August-2021

The Impact of Digital Asset Trading Market on Nigeria’s Economy

What are Digital Assets? Digital assets are simply items whose content is stored in electronic format. With that definition, you would most likely be thinking about images, music, movies, documents, etc. The truth is, those indeed are digital assets. Thanks to technology, these assets have developed far beyond that, and are also digital currencies. What Are The Types of Digital Assets? Based on this article, I would be focusing on two major types of digital assets which serve as a source of money. Gift cards and cryptocurrencies. Gift Cards Gift cards or gift certificates are a type of debit card,

Image
04-March-2020

Subscription for Consolidated Hallmark N1.057bn Rights Issue Opens

By Adedapo Adesanya Following the approval of the Securities and Exchange Commission (SEC), top Insurance company, Consolidated Hallmark Insurance (CHI Plc), has commenced the process of raising an additional sum of N1,056,900,000 to further strengthen its capital base. SEC gave the approval to the company to offer a total of 2,032,500,900 units of 50 kobo each at 52 Kobo per share through a Rights Issue to existing shareholders. The offer opened on Monday, February 24, 2020 and is to run for a period of five weeks, with closing date set for April Fool’s Day, April 1, 2020. Shareholders of the

Image
06-June-2019

Oil Companies Jostle for Licenses in Angola

Angola is at the centre of global energy deals this week as its capital Luanda hosts a plethora of global CEOs and energy investors, and over 1,000 oil industry stakeholders at the Angola Oil & Gas 2019 Conference, organized by Africa Oil & Power. The summit was open by President João Lourenço, who highlighted the various reforms made by his administration to revitalize the industry and insisted on the role of gas monetization to spur industrialization and economic growth. The spotlight was given to exploration on an exciting panel sponsored by Schlumberger and moderated by NJ Ayuk, Executive Chairman of

Image
21-May-2021

A Look Back At Last Year’s Champions League Final

With football finding itself within the vice-like grip of a global pandemic, it was enough to put last season’s Champions League at risk and with pan-continental competition being considered an absolute no, it would require a considerable amount of thinking outside the box to restart it. Thinking that was required for this and the Europa League, to reach a rightful conclusion and with the usual format of home and away legs scrapped, it meant one nation would host each of the final phases of these respective competitions. For the Europa League, it was the home of the Bundesliga which become

Image
20-November-2023

Balancing Business Success and Family Succession: Navigating ‘Deemed Offer’ Provisions in Startup Shareholder Agreements

By Thando Sibanda It’s all too easy to think of startup founders as young, vigorous and touched with immortality. But the sector is full of stories of founders dying before their time. Such deaths are always tragic but can be even more so when there isn’t a clear plan in place. Without that plan, conflicts can quickly arise between the family of the deceased, investors, business partners, and other interested parties. Often, the source of this conflict is the founder being subject to a “deemed offer” or “deemed sale” clause. This clause leads to an automatic forced sale of the

Image
20-February-2017

Goodie Ibru Resigns as Ikeja Hotels Chairman

By Modupe Gbadeyanka Popular Nigerian businessman, Mr Goodie Ibru, has resigned from his position as Chairman of Ikeja Hotels Plc. Ikeja Hotels owns the popular Sheraton Hotel in Abuja and Lagos, Capital Hotel and Federal Palace Hotel. A statement issued on Monday disclosed that one of the important figures in the Ibru family decision to quit office because of several lawsuits filed against the company by shareholders. His action comes almost two months after Justice Kafarati of the Federal High Court in Abuja declared Mr Ibru as the authentic Chairman of Ikeja Hotels Plc. He explained that to ensure the

Ad
Ad
Recent Stories
Image
22-February-2024

Purple Real Estate Welcomes Umar, Oladimeji to Board

By Adedapo Adesanya Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds. The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director. The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities. Commenting on the changes, the Chairman of the board,

Image
22-February-2024

AFCON 2023: Nigerian Content Creators See 200% Rise in Revenue, Views

By Adedapo Adesanya Content creators in Nigeria saw a 200 per cent increase in views and revenue between December 2023 and February 2024, a new study shared with Business Post showed. According to new data released by StarNews Mobile, an African video streaming platform, content creators across Africa experienced a 300 per cent surge in revenues during the 2023 Africa Cup of Nations (AFCON) held between January 13 and February 11, 2024, reaffirming the massive surge in consumption of hyper-localized content from the continent. Based on metrics from StarNews Mobile’s platform, creators in Nigeria were only outshone by their peers

Image
22-February-2024

Two Die, 15 Rescued in Ikoyi-Lekki Link Bridge Boat Mishap

By Modupe Gbadeyanka Two persons have been confirmed dead in a boat accident that occurred on Wednesday night at the Ikoyi-Lekki Link bridge in Lagos. The Lagos State Emergency Management Agency (LASEMA), which confirmed the incident, stated that 15 persons were rescued in the mishap. The agency stated that the boat, which was conveying 17 passengers, was heading to the Ikorodu area of the metropolis from its take-off point, Sandfil, when it capsized at the Powerline area of the popular bridge. It said the body of a female passenger, who drowned, was recovered, while the corpse of the male passenger

Image
22-February-2024

NPPAN Targets $10bn Contribution to Nigeria’s GDP via Palm Biomass

By Adedapo Adesanya The federal government will sign a Memorandum of Understanding (MoU) with the Malaysian government to develop palm biomass in the country as part of efforts to utilise one of the undertapped farm produces in the country. Mr Alphosus Inyang, President of the National Palm Produce Association of Nigeria (NPPAN), made this disclosure, saying palm biomass is a multi-billion dollar economy. “Biomass simply means agricultural waste and we are talking about turning waste into wealth,’’ he said in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The president said NPPAN was working with

Image
22-February-2024

Salesforce Introduces Clean Energy Programme Management

By Modupe Gbadeyanka A new solution to help electric, gas, and water utilities increase customer participation in clean energy programmes has been introduced by Salesforce. The initiative known as Clean Energy Programme Management for Energy & Utilities Cloud streamlines the launch, management, and oversight of energy efficiency, conservation, electrification, and EV charging programs. It helps utilities manage clean energy initiatives with connected data — like energy usage and billing information — and personalised engagement to promote relevant programmes. This platform also digitises and simplifies the application process for customers, participating contractors, and utility program staff to help increase clean energy

Image
22-February-2024

Dangote Sugar to Borrow N50bn from Commercial Paper Sales

By Aduragbemi Omiyale The management of Dangote Sugar Refinery Plc is requesting about N50 billion from capital market investors for its short-term working capital and funding requirements. The sugar miller will get the funds from investors through the sale of commercial papers and has promised to repay in about nine months’ time. The CP sales will be conducted under its N150 billion commercial paper issuance programme approved by the regulatory authorities. It is the first series the company is selling this time and it specifically has a tenor of 266 days with a discount rate of 15.92 per cent and

Image
22-February-2024

NASD Unlisted Security Index Depreciates by 0.77%

By Adedapo Adesanya A 0.77 per cent loss was suffered by the NASD Over-the-Counter (OTC) Securities Exchange on Wednesday, February 21 following profit-taking in three stocks. Aradel Holdings Plc went down by N49.50 during the session to close at N2,476.50 per share versus the previous day’s N2,526.00 per share, Central Securities Clearing System (CSCS) Plc depreciated by 37 Kobo to end the day at N19.63 per unit compared with Tueday’s closing price of N20.00 per unit, and FrieslandCampina Wamco Nigeria Plc deflated by 7 Kobo to settle at N74.43 per share, in contrast to the N74.50 per share it traded

Image
22-February-2024

Naira Appreciates at Official Market, Falls at Black Market

By Adedapo Adesanya The Naira appreciated against the United States Dollar in the official market and the and the peer-to-peer (P2P) windows of the foreign exchange (FX) market but depreciated in the parallel market on Wednesday, February 21 as several scare tactics to ease the weakening local currency continues. In the Nigerian Autonomous Foreign Exchange Market (NAFEM), the domestic currency gained 0.6 per cent or N8.66 on the greenback to close at N1,542.58/$1 compared with the previous day’s N1,551.24/$1. However, the Naira maintained stability against the Pound Sterling and the Euro in the spot market in the midweek session at

Image
22-February-2024

Crude Oil Jumps as Geopolitical Tensions Persist

By Adedapo Adesanya Crude oil appreciated on Wednesday as geopolitical tensions continued in the Middle East and traders assessed signs of near-term supply tightness. Brent crude was up by 69 cents or 0.8 per cent to $83.03 a barrel while the US West Texas Intermediate (WTI) crude jumped by 87 cents or 1.1 per cent to settle at $77.91 per barrel. Houthi attacks on commercial vessels in the Red Sea and Bab al-Mandab strait have continued to stoke concerns over freight flows through the critical waterway. The Iran-aligned Yemeni Houthis have carried out repeated drone and missile strikes since November in

Image
22-February-2024

Investors Recover N165bn as FBN Holdings, BUA Cement, Others Gain

By Dipo Olowookere The bulls recaptured the Nigerian Exchange (NGX) Limited on Wednesday after the bears dominated for two straight days as a result of panic selling due to the macroeconomic environment, especially with the poor performance of the Naira in the foreign exchange (FX) market. During the midweek session, the local bourse finished higher by 0.30 per cent on renewed bargain-hunting activities by investors. This raised the market capitalisation of the domestic exchange by N165 billion to N55.464 trillion from N55.299 trillion, as the All-Share Index (ASI) grew by 301.71 points to 101,362.38 points from 101,060.67 points. Business Post