General
Social Media Overblew Lekki Toll Gate Shooting—Sanwo-Olu
By Modupe Gbadeyanka
Governor Babajide Sanw0-Olu of Lagos State has blamed the social media for overblowing the proportion of the unfortunate shooting at the Lekki Toll Gate by the military on Tuesday evening with what he described as “false information” being shared by those who were not at the scene of the incident.
According to him, “There have been several false information that we have seen over the incident and we will appeal to people to show more restraint in posting information that cannot be verified.”
One of such “false information” was the accusation that the state government was aware of the use of soldiers to disperse the peaceful and unarmed #EndSARS protesters demanding for a better police in the country.
Speaking on Wednesday on the Morning Show programme on Arise News, the Governor maintained that the state government did not order the military shooting, which left about 11 of the youths severely injured.
He also sustained his earlier assertion that no protester died in the incident, stressing that he and officials of the state government had gone round private and public health facilities across the state without being able to identify bodies of those allegedly killed in the incident except one that died from blunt force trauma and another corpse that was recovered by the police in the Victoria Island area with bullet wounds, noting that his administration was already investigating whether the deceased was a protester.
Mr Sanwo-Olu asked members of the public with credible information on anyone or group of persons killed in the incident to come forward with the claim.
On the alleged removal of Close-Circuit Television (CCTV) security cameras at the Toll Plaza before the shooting started, the Governor debunked the claims that he ordered the action.
He explained that the cameras that were removed were not security cameras but laser cameras meant to capture vehicles’ electronic tags and number plates. He said the removal of the laser cameras was a decision taken by Lekki Concession Company (LCC) that owns the facility.
“When I spoke to the Managing Director of LCC over the matter, he told me the company took the decision to remove installations critical to their service when the curfew was announced.
“Those cameras that were displayed in the viral pictures were not security or motion cameras. They are laser cameras for vehicles, specifically designed to pick electronic tags and number plates on cars.
“Security cameras installed at the Toll Plaza are still there as I speak and the footages from them are the ones that we will be using in probing the Lekki incident. Since Tuesday, the security cameras at the Toll Plaza are still there and nobody can touch them,” he said.
The Governor said the multi-agency investigation into Lekki incident may begin next Monday when the order would have been fully restored across the State, pointing out that the recordings of the CCTV security cameras at the Toll Plaza would be useful in unravelling the circumstance that surrounded the incident.
Members of the public, the Governor said, will be part of the investigation for transparency. He added that security experts would be involved to analyse the recordings of the CCTV security cameras to ensure the footages captured since the time the protesters started camping at the tollgate were not tampered with.
On the allegation that he influenced the switching off of the billboard that illuminated the Toll Plaza area at night, Mr Sanwo-Olu said the concessionaire that operates the billboard took the decision independently after the curfew order was announced.
Speaking on the aftermath of the organised attacks on government properties, iconic buildings and private assets, Mr Sanwo-Olu said the nature of the destruction indicated an attempt by the arsonists to keep the State in limbo. He said the attacks were specifically targeted at emergency response infrastructure of the State to weaken its response in the case of large-scale violence.
The Governor disclosed that the arsonists, in the organised destruction, razed four State-owned fire stations and five fire trucks. He said the reconstruction of the damaged assets would cost billions but said the state would bounce back after the devastation.
Mr Sanwo-Olu said it would be insensitive for him to buttress the narrative linking the arsonist attacks on public buildings to sectarian elements, saying his immediate priority was to salvage the damaged assets and prevent further attacks. He, however, said all materials suggesting the arson may have been organised by secessionists would be left for security agencies for proper analysis.
Clarifying his statement that forces beyond him were behind the deployment of troops to Lekki axis, the Governor said: “The hierarchy and chains of command in the military are not within my purview. This is not something I have responsibility for. I do not have such power to control or activate the military. That essentially is what I was trying to say in that particular phrase.”
He also explained that he reached out to President Muhammadu Buhari on two occasions to seek for more help as public assets in the state were being destroyed. He said the President responded, directing the Chief of Defence Staff to liaise with him.
He said: “I made phone calls to speak to the President twice yesterday (Wednesday). The first time, he (president) hadn’t come to the office. The second time, he was at the Federal Executive Council (FEC) meeting.
“Indeed, I haven’t spoken to him directly. He was actually the one who directed the Chief of Defence Staff to call me and I feel that it was when he got my message. Because, when the Chief of Defence Staff called me, he said to me it was the President that asked him to call. But, I haven’t spoken to the President directly; maybe later today, that might happen.”
Aftermath of the destruction, Mr Sanwo-Olu urged the residents of Lagos to come together and heal the wounds inflicted on the state by the arsonists. He said the ugly incident put citizens’ patriotism to test, urging them to unite and re-build the State from the ruins left by the attacks.
He said: “We are at a point where all of us as a people living in the State must come together more than ever before. Our patriotism has been put to test and we need to re-engage ourselves and heal the several wounds that have been inflicted on us. We do not have any other country; this is our country.
“In Lagos, we cannot afford to put to waste what our forefathers and the generation of leaders before us have put in place. We need to preserve our heritage and we need to know that indeed we can build a future for our children. We need to put an end to any form of anger, protest, confrontation and bleeding. Let us come together and start a real healing process.”
By Adedapo Adesanya
Nigeria’s electricity distribution companies (DisCos) generated N196.13 billion in revenue in March 2026, despite billing customers a total of N246.43 billion during the month, according to the latest commercial performance report released by the Nigerian Electricity Regulatory Commission (NERC).
The figure represents a slight decline from the N196.68 billion collected in February, highlighting persistent challenges in revenue recovery across the power distribution segment, even as energy supplied to the grid continued to improve.
NERC’s March 2026 fact sheet showed that electricity billing rose by 1.71 per cent from N242.29 billion recorded in February, reflecting increased energy deliveries and customer charges. However, collection efficiency declined to 79.59 per cent from 81.17 per cent in the previous month, indicating that a significant portion of billed revenue remained uncollected.
The regulator disclosed that DisCos received 293.76 million kilowatt-hours of electricity during the review period, representing a 6.02 per cent increase compared to February. The development suggests a modest improvement in power availability across the distribution network.
Despite the increase in energy supplied, revenue recovery remains uneven across the industry. NERC reported that the average approved tariff for March stood at N124.30 per kilowatt-hour, while actual collections averaged ₦100.75 per kilowatt-hour, resulting in an overall revenue recovery efficiency of 81.05 per cent.
Among the eleven DisCos, Ikeja Electric emerged as the strongest performer, posting a revenue recovery efficiency of 99.30 per cent. Eko Electricity Distribution Company followed with 95.73 per cent, while Benin DisCo recorded 85.18 per cent.
At the lower end of the performance table, Kaduna Electric recorded the weakest recovery rate at 35.65 per cent. Jos DisCo and Yola DisCo also struggled, achieving recovery efficiencies of 53.53 per cent and 58.58 per cent, respectively.
Ikeja Electric also led in collection efficiency with 96.38 per cent, ahead of Benin DisCo at 90.97 per cent and Eko DisCo at 87.68 per cent. Kaduna, Jos and Yola remained the poorest performers in this category, underlining the persistent commercial and operational challenges facing power distributors in parts of northern Nigeria.
In terms of billing efficiency, Eko DisCo ranked first with 92.30 per cent, followed by Port Harcourt DisCo at 90.36 per cent and Ikeja Electric at 87.76 per cent. Yola DisCo recorded the lowest billing efficiency at 58.68 per cent.
The latest figures underscore the mixed realities within Nigeria’s power sector. While electricity supply and customer billing continue to improve, revenue collection remains a major obstacle to the financial sustainability of the industry.
Analysts note that stronger metering penetration, improved customer confidence, reduction in energy theft and more efficient collection systems will be critical if DisCos are to close the widening gap between electricity supplied, billed revenue and actual collections.
The March performance report comes as regulators and industry stakeholders intensify efforts to strengthen the commercial viability of the electricity market, attract fresh investment and improve service delivery across the country.
By Adedapo Adesanya
Interswitch has entered into a partnership with Geneva-headquartered banking software provider Temenos to offer managed banking services to financial institutions across the continent, deepening its push into banking technology.
The partnership will see Interswitch adopt Temenos’ banking technology across core banking, digital banking, payments, wealth management, and financial crime management.
This will enable the firm to provide cloud-hosted and on-premises managed services to lenders on the continent. The service will initially target Nigeria, Ghana, Côte d’Ivoire, Kenya, and other African markets.
“This is a pivotal moment for Interswitch as we accelerate our expansion beyond payments and reimagine digital banking for Africa,” Mr Jonah Adams, managing director for Digital Infrastructure and Managed Services at Interswitch, said in a statement.
By combining Temenos’ software with its existing footprint across the continent, Interswitch is positioning itself as a technology partner that can help banks upgrade critical systems without having to manage the complexity of large-scale technology deployments.
“By adopting Temenos’ cloud-native, composable platform, Interswitch gains the flexibility and scalability to accelerate its next phase of growth and deliver banking services that meet the needs of African markets,” Mr Adams added.
For Temenos, the deal strengthens its presence in Africa through a partner with deep relationships across the banking sector. It lost one of its banking customers, Sterling Bank, in 2024 after the tier-2 Nigerian bank switched to SEABaaS, a new custom-built core banking application.
“Interswitch is an important new customer and partner for Temenos in Africa,” said Mr William Moroney, Chief Revenue Officer at Temenos. “Interswitch’s strong presence across the continent also extends our reach and further strengthens our ecosystem and partner network.”
Founded in 2002, Interswitch built its reputation as one of Africa’s largest payments companies through products such as Quickteller and Verve, its domestic card scheme.
By Adedapo Adesanya
Tropical General Investments (TGI) Group and Singapore-based Wilmar International have agreed to combine their Nigeria and Republic of Benin operations into a 50:50 joint venture aimed at building a dominant integrated food and agribusiness platform across West Africa, targeting a market estimated at $12 billion.
The proposed merger will consolidate operations across several value chains, including agriculture, oil palm plantations, edible oils, edible nuts, rice, food manufacturing, and distribution, creating one of the region’s largest end-to-end food production and supply chains.
Under the arrangement, both firms will integrate their complementary strengths, with Wilmar contributing global expertise in palm oil, speciality fats, and large-scale agribusiness operations, while TGI brings established local manufacturing capacity, consumer brands, and an extensive distribution network across Nigeria and neighbouring markets.
Chairman and Chief Executive Officer of Wilmar International, Mr Kuok Hong, said the partnership would enhance both firms’ ability to serve Africa’s expanding consumer base, describing Nigeria and Benin as strategic growth markets.
“For more than four decades, TGI Group has built a leading position in Nigerian food manufacturing and distribution. This partnership will leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa,” added TGI Group founder and chairman, Mr Cornelis Vink.
On his part, Vice Chairman of TGI Group, Mr Farouk Gumel, said the deal reflects confidence in Nigeria’s long-term economic prospects, adding that it would deepen domestic value addition, strengthen food security, support smallholder farmers, and create jobs.
Adding his input, Wilmar’s Africa Head, Mr Santosh Pillai, described the transaction as a strategic fit, noting that the combined entity would have the scale, local insight, and operational depth needed to better serve consumers in the region.
The companies said the transaction is expected to be completed in the 2026 financial year, subject to regulatory approvals and other customary conditions.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn