TCN Suspension: Ikeja Electric Moves to Avert Blackout

By Bliss Okperan The Governor of Ogun State, Mr Dapo Abiodun, has asked Nigerians to give President Bola Tinubu more time, saying he has performed well in office since taking over on May 29, 2023, noting that he inherited an almost comatose economy from former President Muhammadu Buhari. “The President Tinubu-led administration has been very bold and audacious. They’ve taken the bull by the horns. They’ve done what no government has done in the history of Nigeria,” Mr Abiodun said during an interview on Channels Television’s Sunday Politics show. Recall that a few days ago on Channels TV, the Governor

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 This, in turn, repealed the Electric Power Sector Reform Act (EPSR A), 2005 and create a comprehensive legal and institutional framework to guide the Nigerian Electricity Supply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 Aduragbemi Omiyale The Oyo State government has maintained that its decision to register all commercial motorcycle and tricycle riders in the state was to promote public safety and not for any other purpose. The Commissioner for Information and Civic Orientation, Mr Dotun Oyelade, said this during a one-day sensitisation meeting with Okada and Keke riders in Ibadan. He explained that the meeting became necessary following a recent state security council meeting, noting that the exercise will help in the documentation of riders in the state. The Commissioner called for sustained cooperation between motorcycle and tricycle riders and the state

By Adedapo Adesanya  Nigeria’s anti-crude theft troop, Operation Delta Safe, has destroyed 50 illegal oil refining sites in the Niger Delta region and arrested 51 suspects in the last week. The Director of Defence Media Operations, Maj.-Gen. Edward Buba, who made this known on Thursday in Abuja while briefing newsmen on the operations of the military, said the troops also eliminated four criminals and recovered arms and ammunition. He added that a total of 578,900 litres of stolen crude oil, 454,330 litres of illegally refined Automotive Gas Oil and 10,000 litres of dual-purpose kerosene (DPK) were recovered during the operations.

By Modupe Gbadeyanka Mr Jubril Mobolaji Lawal has been appointed by Guaranty Trust Bank Plc (GTBank) as its Executive Director. The appointment of Mr Lawal was announced on Wednesday in a statement issued by the financial institution. It was stated in the statement that his appointment has received the approval of GTBank’s Board of Directors and the Central Bank of Nigeria (CBN). In the statement, it was revealed that Mr Lawai has over 24 years of banking experience which spans through Corporate Banking, Commercial Banking, Credit Risk Management and Investment Banking. He was said to have joined GTBank in 1992

By Modupe Gbadeyanka Shareholders of Dangote Sugar will begin to receive a cash dividend payout of N1.10k per share from Wednesday, June 19, 2019. This information was contained in a notice released by the company to the Nigerian Stock Exchange (NSE) on Thursday. It was disclosed that the N1.10k per 50 kobo ordinary share is subject to shareholders’ approval and appropriate withholding tax. This approval would be sought at the company’s Annual General Meeting (AGM) slated for Tuesday, June 18, 2019 at the Orchid Hall, Eko Hotel and Suites, Victoria Island, Lagos by 10am. It was further stated that the

By Adedapo Adesanya Gas that would have fetched the nation about N169.4 billion amid a strain in earnings has been wasted by oil and gas companies operating in Nigeria through gas flaring. Data released by the National Oil Spill Detection and Response Agency (NOSDRA) disclosed that the gas wasted by these energy firms was between January and May 2022. In measurement, the culprits flared 116.4 billion Standard Cubic Feet (SCF) of gas in the period under review and would have generated 11,600 gigawatts hour of electricity. The flared gas led to 6.2 million tonnes of carbon dioxide emissions. The companies

By Adedapo Adesanya African cross-border payments startup, Chipper Cash, has raised a $100 million Series C led by a United States-based Venture Capital (VC) firm, SVB Capital. Founded by Messrs Ham Serunjogi and Maijid Moujaled in 2018, Chipper Cash offers mobile-based, no fee, Peer-to-Peer (P2P) cross-border payment services, across up to seven African countries — Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya. The company is also present in the United Kingdom, the first country it has expanded to outside Africa. Business Post reports that with its latest round of funds, the organisation said it plans to introduce more

By Adedapo Adesanya  The Naira came under pressure at the Bureaux De Change (BDC) segment of the foreign exchange market on Thursday, June 4. According to data from the Association of Bureau De Change Operators of Nigeria (ABCON), the local currency further depreciated against the the United States Dollar at the Lagos BDC market, selling at N447/$1 compared to N444/$1 it was sold on Wednesday. An analysis by Business Post showed that the Naira, which traded in the morning in Lagos at N445/$1, first depreciated to N446.50/$1 in the afternoon, before crashing to N447/$1 at the close of business. Against

By Modupe Gbadeyanka The positive momentum recorded on the floor of the Nigerian Stock Exchange (NSE) on Thursday continued today with the major market indicators pointing northward. The renewed buying interest in blue-chip stocks pushed the market to a positive finish in the last minute, leaving the stock market to close the last trading day of this week with 0.32 percent rise. Today’s bullish performance was influenced by gains by Seplat and 27 other equities. Seplat rose by added N2 to raise its share price to N467 per share, while CAP Plc picked N1 to finish at N34 per share.

By Modupe Gbadeyanka Residents of Lagos use at least N3 billion on food everyday, the state Governor, Mr Akinwunmi Ambode, has disclosed. He said due to this, the state government has put in place mechanisms to guarantee food security. Mr Ambode, speaking on Thursday at the maiden edition of the Lagos food security and exhibition summit, assured investors willing to do business in the agricultural sector of an available and ready market in the state. He said the state government has acquired farmlands in other neighbouring states of Ogun and Oyo as well as Abuja to produce some food items.

By Modupe Gbadeyanka Despite the disruption caused by the of coronavirus pandemic, customers of Heritage Bank have been assured uninterrupted access to the various services they’ve been enjoying before now. This has been made possible with the activation of the company’s business continuity plan by the management. During this period, customers have been advised to adopt the available 24/7 alternate electronic channels of the lender to execute their financial transactions. “We have encouraged our customers to adopt the self-service platforms like *745*0# for balance enquiry, Funds Transfer (Within Heritage Bank): *745*1*Amount*Account Number#, self-airtime recharge: *745*Amount#, third party airtime recharge: *745*Amount*Mobile