General
Report DisCos Charging to Replace Faulty, Obsolete Prepaid Meters to us—NERC
By Dipo Olowookere
The Nigerian Electricity Regulatory Commission (NERC) has emphasised that it is the responsibility of energy distribution companies (DisCos) to replace faulty and obsolete prepaid meters of their customers free of charge.
It said no customer should be forced by the energy firms to pay for a new prepaid meter if faulty or out-of-date as it is being done by a few of the companies.
Recall that Ikeja Electric Plc and Eko Electricity Distribution Company (EKEDC) asked energy consumers on their networks with the old Unistar prepaid meters to change them on or before November 14, 2024, or risk being moved into the estimated billing category.
This sparked outrage, causing NERC and the Federal Competition and Consumer Protection Commission (FCCPC) to wade into the matter, asking Ikeja Electric and EKEDC against phasing out the meters, particularly after Unistar claimed there was nothing wrong with its devices.
The criticisms that trailed the actions of the two DisCos were because of the increase in the prices of the meters, particularly at a time when many Nigerians were battling with a harsh economic crisis caused by high inflation and energy costs.
In a statement on Monday, NERC, which regulates the electricity sector in the country, said it is not the duty of customers to pay for the replacement of their meters, urging them to report any DisCo forcing them to part with their hard-earned money for a new meter.
“The Nigerian Electricity Regulatory Commission is aware that some Distribution Companies (DisCos) have instructed customers to apply and pay for the replacement of faulty and obsolete meters within their franchise areas.
“This instruction contravenes the Commission’s Order No. NERC/246/2021 on the Structured Replacement of Faulty and Obsolete end-use Customer Meters in the Nigerian Electricity Supply Industry.
“The Order clearly states that no customer with a meter should be forcefully migrated to estimated billing. If any customer’s meter is adjudged by any DisCo to be obsolete or faulty, it is the responsibility of the DisCo to replace the meter free of charge, provided that the fault was not caused by the customer.
“The commission restates its commitment to protect customers’ interests and rights by ensuring compliance with established regulatory standards and enforcing regulatory penalties for non-compliance by its licensees.
“We urge customers to report cases of non-compliance to the Order by any DisCo through the following channels: Phone: 07000 CALL NERC (07000 2255 6372), 0201 344 4331, 0908 899 9244, and Email: co********@******ov.ng,” the statement read.
General
Egbin Power Commissions 80 New Staff Housing Units
By Modupe Gbadeyanka
In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.
This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.
The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.
This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.
The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.
This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication
“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.
“This significant expansion of our residential estate is a tangible expression of that commitment.
“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.
Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.
General
NGX Group, CSCS, WIMBIZ to Ring Bell for Gender Equality
By Aduragbemi Omiyale
On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.
The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.
In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.
Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.
NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.
General
IWD: Dolapo Akanbi-Alade of Pathway Holdings Urges Stronger Inclusion of Women in Finance
By Adedapo Adesanya
The Executive Director/GCOO of Pathway Holdings Limited, Mrs Dolapo Akanbi-Alade, has called for increased inclusion of Nigerian women in finance as the world marks International Women’s Day 2026.
International Women’s Day 2026 is marked every March 8, and this year’s theme is Give To Gain.
In a statement shared with Business Post, Mrs Akanbi-Alade noted that while International Women’s Day highlights the need for gender equality, significant progress requires deliberate policies and systems that expand women’s access to finance and leadership opportunities.
She emphasised that many Nigerian women and women-led businesses still face limited access to finance, highlighting the urgent need for targeted inclusion initiatives.
“At Pathway Holdings, we empower women and give access to investment advisory, asset management, and lending solutions for institutions, high-net-worth individuals, and businesses. Ensuring that women and women-led enterprises can access these opportunities is critical to building a more inclusive financial system,” she added.
Mrs Akanbi-Alade said, “Women’s access to finance is not only a social responsibility but essential for national productivity and economic growth’’. She co-founded the following companies:
Pathway Asset Management Limited is registered and regulated by the Securities and Exchange Commission, Nigeria, as a Fund and Portfolio Manager. The product range includes Pathway Fixed Deposit Notes, Privately Managed Notes, Pathway Private Portfolio Management, Investment Advisory, and Mutual Funds, which will be launched soon.
Pathway Advisors Limited is registered and regulated by the Securities and Exchange Commission (SEC) as an Issuing House and financial adviser. Pathway Advisors’ services cover Mergers and Acquisitions (M&A), Capital-Raising, Financial Advisory, Rating Advisory, and Project and Structure Finance.
Fundbox Financial Services Limited is a wholly owned micro-lending company providing short-term personal and SME finance loans to salaried individuals, self-employed personnel, and small businesses. They offer services which include Cars4Cash, SME Loans, Personal Loans, and Group Employee Loans. Fundbox has successfully disbursed a wide range of loans to both corporate and individual clients, supporting their financial needs and business growth.
Pathway Holdings Limited is a notable investment holding firm focusing on private market investments, including private equity, private credit, and infrastructure. Pathway creates customised investment solutions for institutional investors and individuals, leveraging its extensive experience and local footprint.
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