Folarin Kehinde

Two days after the Nigerian Electricity Regulatory Commission (NERC) approved increase of electricity tariff for customers under the Band A classification, the Federal Government has hinted that a similar measure would be extended to others.

Speaking at a briefing in Abuja on Friday, Minister of Power, Adebayo Adelabu, said the recent increase in electricity tariff is a pilot in phasing out of electricity subsidy in the country.

He said the government plans to remove all subsidies in the sector to allow the thriving of investment in the power sector.

The Minister said: “This tariff review is in conformity with our policy thrust of maintaining a subsidized pricing regime in the short run or the short term with a transition plan to achieve a full cost reflective tariff for over a period of, let us say three years. I have mentioned it in a couple of media briefings that it is because of government sensitivity to the pains of our people that we will not make us migrate fully into a cost reflective tariff or to remove subsidy 100 percent in the power sector like it was done in oil and gas sector.”

“We are not ready to aggravate the sufferings any longer which is why we said it must be a journey rather than a destination and the journey starts from now on, that we should do a gradual migration from the subsidy regime to a full cost reflective regime and we must start with some customers.

“This is more like a pilot for us at the Ministry of Power and our agencies. It is like a proof of concept that those that have the infrastructure sufficient enough to deliver stable power of enjoying 20 hours of light to be the ones to get tariff add.”

The Minister added that the N225 kilowatt per hour Band A customers are charged as little in relative to the N500 they pay for alternative energy like diesel and others.

While explaining that Nigeria is experiencing a subsidy pricing regime where the government provides a large portion of the generation, transmission and distribution cost, he said the government was formerly subsidising 67 percent of the cost of electricity.

“The government would have paid N2.9tr for 2024. This is more than 10 percent of the national budget. It will be insensitive on our part to compel the government to pay such subsidy when we have other competing issues the government needs to fund under pau its of funds we have.”

The FCT minister, Nyesom Wike, has decided to end the contract of Messrs Integrated Facility Management Services Ltd to manage the International Conference Centre(ICC) in Abuja effective immediately and awarded the contract to Julius Berger Nig Plc

According to Anthony Ogunleye, the Press Director at the Minister of FCT’s office, Julius Berger Nig Plc. has been chosen to quickly renovate the center from top to bottom.

Details Later ……

The Nigerian Electricity Regulatory Commission (NERC) has taken enforcement action against the Abuja Electricity Distribution Plc (“AEDC”) for noncompliance with the Supplementary Order to the April 2024 Multi-Year Tariff Order 2024 for AEDC (the “Order”). AEDC has been fined 4200,000,000 (Two Hundred Million Naira) for failure to comply with the prescribed customer band classifications for the tariff billing.

This decision follows a detailed review and customer feedback, which revealed that AEDC had applied the new tariff to all customer bands, contrary to the Order, which was designed to ensure fair billing practices.

AEDC is therefore mandated to:

a. Reimburse all customers in Bands 8, C, D and E respectively that were billed above the allowed customer categories/tariff bands provided in the Order.

b. Reimburse through the provision of the balance of customer tokens that the affected customers would be entitled to receive of the applicable rates and all token reimbursements shall be issued to the affected customers by 11 April 2024.

c. Pay the sum of #200,000,000.00 (Two Hundred Million Naira) as a fine for the flagrant breach of the Commission’s Order.

d. File evidence of compliance with the directives in a & ¢ with the Commission by 12 April 2024.

The action by the Commission underscores its commitment to protecting consumer rights and ensuring equitable practices within Nigeria’s electricity sector.

Controversial cross-dresser, Idris Okuneye, popularly known as Bobrisky, on Friday, pleaded guilty to the charges of naira abuse.

The Economic and Financial Crimes Commission had, on Thursday, filed six counts of money laundering and abuse of naira against him.

But before the charge was read to the defendant, the EFCC’s prosecution counsel Suleiman Suleiman, prayed the court to stike out counts five and six (money laundering charges) and arraigned him on counts one to four.

Consequently, Justice Abimbola Awogboro struck out counts five and six.

Bobrisky was then arraigned on counts one to four to which he pleaded guilty.

When he was asked if he understood the charge that was read to him, he said,” Yes, I am guilty.”

Bobrisky had around 11:50am arrived at the Federal High Court in Lagos for his arraignment on money laundering and naira abuse allegation.

The EFCC had on Thursday filed six counts bordering on money laundering and abuse of the naira against Bobrisky.

The crossdresser, who had been in the EFCC detention since Wednesday night, failed to meet the administrative bail offered to him on Thursday.

Details later…

Popular Nigerian cross-dresser, Idris Okuneye aka Bobrisky, has arrived at the Federal High Court in Ikoyi, Lagos, for his trial.

Bobrisky was arraigned before the presiding judge, Abimbola Awogboro, by te Economic and Financial Crimes Commission (EFCC) over allegations bordering on naira abuse and money laundering.

Recall that the cross-dresser was arrested on Wednesday night for allegedly spraying and stepping on naira notes.

The EFCC filed a six-count charge against the controversial crossdresser, on Thursday.

The commission also accused Bobrisky of laundering the sum of N127. 7 million through a domiciled account.

While four of the charges are related to alleged naira abuse, the remaining two counts involve alleged money laundering.

“In the charge sheet filed by EFCC Prosecutor, Senior Advocate of Nigeria Rotimi Oyedepo, alongside seven other lawyers, Bobrisky in the first count is alleged to have tampered with the sum of N400,000 by spraying same while dancing at a social event at the IMAX Circle Mall, Lekki, Lagos,”the anti-graft agency’s statement said.

“The offence was committed on March 24, 2024, and is contrary to and punishable under Section 21(1) of the Central Bank Act 2007.

“In count five, Bobrisky while trading under the name and style of Bob Express between Sept 1, 2021, and April 4, 2024, in Lagos, failed to submit to the Special Control Unit Against Money Laundering, a declaration of the activities of the said company, (Bob Express), within which period the total sum of N127. 7m was paid into the company account domiciled with Ecobank.

“In count six, Bobrisky is also accused of failing to submit a declaration of the activities of the company within the same period when another N53m was paid into the company’s account thereby committing an offence contrary to Section 6(1)(a), and Section 19(1) (f) of the Money Laundering (Prevention And Prohibition) Act and punishable under Section 19 (2) (b) of the same Act.”

Governor Abba Yusuf’s administration has filed at least eight criminal charges against his predecessor Abdullahi Umar Ganduje, chair of the ruling All Progressives Congress, for allegedly stealing N5.6 billion from Kano’s coffers and taking bribes from public works contractors totalling almost half a million dollars, according to documents obtained by Peoples Gazette.

Stripped of immunity following the expiration of his governorship tenure in May 2023, Mr Ganduje is left vulnerable to answer the corruption charges preferred against him, which already has 15 witnesses willing to testify against him at the Kano High Court.

In 2018, a video surfaced which showed Mr Ganduje flashing a broad smile as he stashed wads of American dollars in his babanriga, a long, flowing, traditional embroidered robe commonly worn by men in the northern region. The outfit is known to have deep, large pockets.

The video, posted by Daily Nigerian in 2018 but with a 2017 timestamp, went viral and sparked an uproar across the nation as it cemented claims that state governors often took large commissions from the contracts awarded to companies vying for government projects.

Mr Ganduje denied being in the video, claiming it was “cloned.”

Per the constitutional immunity he enjoyed as a sitting governor until his tenure was up last May, he could neither be investigated nor prosecuted. The federal government that handles the prosecution of corruption cases has been reluctant to bring charges because it has been under the control of Mr Ganduje’s party.

However, his successor, Mr Yusuf, a candidate of the rival New Nigeria People’s Party (NNPP), seems determined to bring Mr Ganduje to book as the Kano government is now exploring legal channels to prosecute the former governor and all persons listed as his conspirators including his wife Hafsat and son, Umar Abdullahi.

The three companies that allegedly benefited from the stolen funds and linked to his family members were also listed as sixth to eighth defendants in the suit dated April 3.

The Kano government, represented by a team of four lawyers led by Y.A. Adamu, was listed as the only complainant in the suit.

According to the Kano government, Mr Ganduje received $200,000 in January 2016 and another $213,000 in February 2017 in kickbacks from contractors selected for “the remodelling of Kantin Kwari textile market.”

Between September 2020 and March 2021, Mr Ganduje diverted N1.4 billion meant to purchase face masks “and other hospital equipment for the health sector” for his personal use in the wake of the COVID-19 pandemic, Mr Yusuf’s government alleged.

Sometime around March 2021, Mr Ganduje was accused of forcefully acquiring 501 “high density plots” from “peasant farmers” which he sold for N700 million and deposited the proceeds into the account of BDC operator Vision Steel Link Limited.

According to court documents, the APC chair arranged for the dollar equivalent of the N700 million to be paid into his son’s account.

Another charge instituted against the former governor was that he deliberately sold the Kano cotton ginnery valued at N750 million at a discounted rate of N320 million through a proxy managed by his immediate family, thereby shortchanging the state government and the people.

Further complicating the ginnery sale was that the proceeds were not remitted to the state account, as stated in the document detailing Mr Ganduje’s charges.

Witnesses, including bank employees privy to the fraudulent transactions, a forensic expert who analysed the bribery footage, and contractors who said they gave Mr Ganduje percentages of Kano contract awards, have affirmed their willingness to submit oral and written testimonies against the ex-governor in court.

The case marks the beginning of turbulent waters for Mr Ganduje, who seems to be settling into his role as APC chair after being passed over for a ministerial position due to his bribery-tainted persona.

The Energy Cross River Conference 2024 held in Cross River State, Nigeria, has set the state on a new trajectory towards sustainable energy development.

The two-day conference and exhibition featured plenary sessions and panel discussions on redefining the energy architecture of the state using sustainable fuels. The event was declared open by Governor Sen. Prince Bassey Edet Otu, who emphasized the state’s commitment to transforming the energy sector.

The Governor highlighted the state’s desire to attract investors in the sector, noting that Cross River State is blessed with diverse energy resources. He emphasized the state’s focus on transitioning from fossil fuels to sustainable energy sources in line with global environmental trends.

The Commissioner for Power and Renewable Energy, Prince Eka Williams, discussed the state’s role in revolutionizing the energy sector. He stated that the Energy Cross River Conference 2024 aimed to create a platform for stakeholders to engage and network while discussing the redefinition of the state’s energy architecture using sustainable fuels.

Prince Williams further stated his commitment to drive a well conceived energy policy thrust with energy mix that will ensure the development of Cross River State in no distant time. He said with the passing and signing into law of the Electricity Act 2023 by the National Assembly, the state is set to pass and sign into law the Cross River State Electric Act 2024 in the second quarter of the year.

The Electricity Act 2023 guarantees the de-centralisation and de-monopolisation of Nigeria’s electricity generation, transmission, and distribution at the National level and authorizes states, companies, and individuals to generate, transmit and distribute electricity. The signing into law of the Cross River state Electricity Act 2024 will empower the state to start the process to maximize this opportunity.

This will include the creation of the Cross River State Electricity Regulatory Commission, the licensing of Power Generation, Transmission and Distribution companies, improvement of power infrastructure in the state as well as achieving a good energy mix, through sustainable fuels and renewable energy sources.

The Commissioner for Finance, Mr. Michael Odere, highlighted the potential for investment in the energy sector in Cross River State. He emphasized the state’s commitment to becoming an investment destination of choice for local and foreign direct investors. Mr. Odere also mentioned efforts to improve the ease of doing business and offer incentives to investors.

One of the sponsors, Allegiance CNG Limited, presented Compressed Natural Gas (CNG) as an alternative energy source in the state. In his presentation during the panel session, the Chief Executive Officer of the company Deji Afolabi highlighted CNG as a cleaner, cheaper, and sustainable energy alternative. The company plans to establish CNG mother and daughter stations across the state and retrofit vehicles to run on CNG.

Mr. Afolabi said in a pioneering effort to build local capacity and empower Cross Riverians, a strategic partnership with University of Cross River State is being forged. This collaboration aims to establish a specialized training program, equipping individuals with skills and expertise needed to retrofit vehicles with CNG kits. He assured all that the company will supply high quality CNG kits.

Fidelity Bank Plc, another sponsor, expressed its readiness to fund transactions in the energy sector in the state. Speaking, Pamela Shodipo, Executive Director, South highlighted the experience of the bank in funding the energy sector and their commitment to guiding investors to success.

The private sector organizing partner, Allstates Management Partnership Solutions, stated that the strategic objective of the conference and expo was to build synergy among stakeholders to grow the energy sector in Cross River State. They emphasized their connections in the sector and their dedication to achieving positive outcomes.

Participants at the Energy Cross River Conference 2024 praised the event, highlighting the information and opportunities it unveiled. They expressed their desire for the event to become an annual conference and expo in the state.

The head of financial crime compliance at Binance, Tigran Gambaryan, has arrived the Federal High Court in Abuja for arraignment over allegations of money laundering.

On February 28, Gambaryan and Nadeem Anjarwalla, Binance’s regional manager for Africa, were detained by the Nigerian government.

Anjarwalla, however escaped from detention after he was led to a nearby mosque for prayers.

Details shortly…