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FG May Place The “Free Four Million Meters” Distribution On Hold

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The Federal Government-funded Phase 1 of the National Mass Metering Programme, NMMP, slated to commence in August appears to have been mired in uncertainty, as it had been put on hold following allegations of fraud by the Central Bank of Nigeria against some of the Meter Asset Providers, MAPs.

A source, who pleaded anonymity due to the sensitivity of the matter, said that there was no indication that the Phase 1 meter distribution would commence this month, as power distribution companies were yet to be furnished with meters.

The NMMP is an initiative of the Nigerian Electricity Regulatory Commission, NERC, in conjunction with the Presidential Power Task Force. The initiative was launched in August 2020 to allow the CBN to fund the acquisition of meters on behalf of DisCos by paying directly to the MAPs. The free metering programme commenced with the Phase 0 where one million meters were supposed to have been distributed.

However, the CBN, on July 20, asked the Federal High Court in Lokoja, Kogi State, to freeze accounts belonging to 157 MAPs for allegedly diverting funds meant for the procurement of prepaid meters.

The apex bank, in a suit, requested commercial banks to restrict the account of 10 companies that received power sector intervention funds under the NMMP for 180 days pending the outcome of its investigation.

Report has it that the free mass programme had also been put on hold until further notice, following the ongoing court case.

One of our sources said that the DisCos had accused some MAPs of not supplying them with enough meters during the last visits by the CBN to the DisCos’ offices.

“The CBN visited the DisCos to audit their books and see what they used the intervention funds given to them for. It was during the visits that it was discovered that some of the MAPs had failed to deliver enough meters for distribution. Before the NMMP commenced; what we were told by the MAPs was that they had enough local capacity to meet demands. But after the CBN signed the contract with them and disbursed money to them, they failed to meet their target. They saw free money,” one of our sources had hinted.

The CBN, in the suit said, “The Central Bank of Nigeria reviewed the activities of 12, including the defendants herein Meter Asset Providers (MAPs) alleged to have diverted the Central Bank of Nigeria’s power sector intervention funds under the National Mass Metering Programme (NMMP).

“The review was aimed at ascertaining the flow of the funds made available to the MAPs, covering the period between January 1, 2020, to March 15, 2022. The preliminary review revealed that the defendants diverted a substantial portion of the funds for other uses through related entities and individuals/companies connected to the electricity distribution companies (DisCos) and the defunct Power Holding Company of Nigeria (PHCN),” the suit partly said.

Nigeria’s central bank has invested heavily into the power sector through its intervention support programmes. According to the bank, it had disbursed over N254.4 billion through its Nigeria Electricity Market Stabilization Facility – Phase 2, NEMSF-2.

At the last Monetary Policy Committee meeting of the Central Bank, Governor Godwin Emefiele revealed it disbursed about N47.8 billion for about 865,956 meters across the country.

“Under the National Mass Metering Programme (NMMP), the Bank disbursed N47.82 billion for the procurement and installation of 865,956 meters across the country.”

Spokesperson for CBN, Osita Nwanisobi, declined commenting on the matter when contacted.

The NERC, on its part, said it created the initiative in response to President Buhari’s order that Nigerians must be metered. “The President has directed that there should be a nationwide mass-metering program in an effort by the Federal Government to put a stop to estimated and arbitrary billing for electricity.”

The Commission had recently spoken of the success of Phase 0, and revealed it had shortlisted 45 companies for the next phase. It added that; “We are hoping that before the end of August, we will begin to see meters from our local manufacturers going to the electricity Distribution Companies and then to end-user customers.”

Both calls and messages put through to the General Manager/Head of Public Affairs Department, NERC, Usman Abba Arabi, were not responded to as at the time of filing this report.

One of the accused MAPs, Mojec Meter Asset Management Company Ltd, said that it fully discharged its obligations of manufacturing, supplies, and installation of meters for all eight DisCos it was assigned to. The company also pointed out that it was issued certificates of completion by all the eight DisCo clients as proof of execution of its contractual obligations on the initiative, according to Corporate Communications Manager, MOJEC International Group, Olufunso Adeolu.

“Mojec is ready to release all meter serial numbers produced in its factories, together with records of waybills of all in-Country volumes of meters it delivered to the various DisCos under the initiative,” Adeolu added.

Other accused MAPs were yet to make any comments on the matter as at the time when this report was filled.

Metering Expert, Okunade Sesan, said that it was better for the NMMP to be scrapped so that citizens would be allowed to buy their own meters.

“The CBN refusing to disburse funds for the next phase of the metering is going to cause a setback. It would even be better for electricity consumers to take their fate into their hands and buy their meters. Then, NERC can arrange for monthly refunds through electricity units,” he said.

BIG STORY

Thousands Flock To Lagos For Africa’s Biggest Shopping, Entertainment Event [PHOTOS]

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Thousands of excited Nigerians attended the opening day of the much-anticipated maiden edition of the Lagos Shopping Festival (LSF) on Monday, December 23 and were served up an electrifying feast of events, activities and promotions across the the main venue of the festival, the iconic Mobolaji Johnson Arena, (formerly Onikan Stadium).

As advertised, first day of the festival lived up to its billing with a colourful blend of commerce, music, innovation and creativity following its flag off by the Executive Governor of Lagos State, Babajide Olusola Sanwo-Olu.

The Lagos Shopping Festival, powered by the Lagos State Government in collaboration with Chain Reactions Africa, a frontline PR firm, and supported by leading brands, including Zenith Bank, Tolaram Group, First Bank Plc, and Guinness, will see millions of people hit the main venue and select Lagos malls to bag the latest bargains, and bring together the best of city’s retail offering, showcasing local and top global brands and shopping experiences, including in-mall promotions.

Speaking at the event, Governor Sanwo-Olu described the LSF as a history-making festival of back-to-back shopping, fun, and entertainment, reaffirming the Lagos state’s commitment to grow small businesses as well as the entertainment industry.

“This is the first of its kind and this event is made to bring shoppers with MSMEs, with innovators, with entertainers, with the creative industry, with the food industry and everybody,” said Sanwo-Olu.

“For the next three days, we are meant to all come together, enjoy good food, good music, sales at discounted market price, shopping at the highest level and just general entertainment with the creativity of Lagos,” the Governor added.

He called on all Lagosians and Nigerian to join the fun, shopping and entertainment.

“Call everybody from Iyana-Ipaja to Alimosho, call people from Agege, call them from Ebute-Meta to Shomolu, call them from Bariga, from Badagry to Ikorodu, from Epe to Ibeju-Lekki, call everyone to come to the arena here at the Mobolaji Johson Center in Onikan where we’ll be doing shopping, we’ll be doing music, we’ll be doing entertainment for the next two days. This is the first of its kind”, Sanwo-Olu added.

He assured all fun-seekers, buyers and sellers of their safety, saying that they are in a safe, secure, peaceful environment, urging them to “to sit back, relax and see another Lagos creativity that is the first, and the very first Lagos Shopping Festival”.

Governor Sanwo-Olu expressed his appreciation to the sponsors of the Lagos Shopping Festival for their unwavering support to drive the story of Lagos commerce, entertainment and creativity.

“I want to thank all of our sponsors from FirstBank, to Zenith Bank, to Tolaram, to Smirnoff Ice, to Indomie Noodles, to OmniBiz, to PowerOil, to Minimie, and to Malta Guinness, all of them, including the Lagos State Government. I want to thank you”.

He also commended all the local and small businesses at the festival, and urged Lagosians and Nigerians to always patronize them.

“More importantly, to all the small businesses that are inside and under the canopies, go out there and make good deals. Go out there and do huge purchases from them. Go out there and make their small-scale market, work for them; because here, we want the market to be meeting all of the shoppers. That’s what this is all about. It’s about buying stuff at the most reduced market. It’s about entertainment, it’s about food, it’s about tourism. This is what Lagos has given to you again,” Sanwo-Olu said.

Also, commenting, the MD/ Chief Strategist, Chain Reactions Africa, the organisers of the Lagos Shopping Festival, Mr Israel Jaiye Opayemi, buttressed the strategic significance of the festival saying, “LSF is poised to be the catalyst that will redefine the true essence of commerce, especially SME businesses, the creative ecosystem, and fun times with family, friends and loved one. LSF is sure set to open a new vista of socio-economic growth from Lagos, to Nigeria, whilst raising a unique bar in the African market”.

Fun-seekers and business men and women alike had entertainment value for their time, with dancing and singing competition with the winners adjudged by the audience receiving cash gifts. The highlight of the day was the energy-revving musical performances from the youthful Ayo Maff, with the soulful rendition of songs from Adekunle Gold the icing on the cake for the audience who kept singing along to his enchanting stage performances.

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BIG STORY

JUST IN: Oriyomi Hamzat, Queen Naomi, School Principal Remanded In Agodi Prison Over Ibadan Stampede

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The Chief Magistrate Court sitting in Iyaganku, Ibadan, Oyo State has ordered the remand of Prophetess Naomi Silekunola, Alhaji Oriyomi Hamzat, and Mr. Abdullahi Fasasi at Agodi Correctional Center following their roles in the Ibadan Children Funfair stampede last week.

Amid heavy security, the three individuals, including the principal of Islamic High School, Bashorun Ibadan, Mr. Fasasi; the proprietor of Agidigbo FM, Alhaji Hamzat; and the estranged wife of the Ooni of Ile Ife, Oba Enitan Adeyeye Ogunwusi, Naomi Silekunola, were on Tuesday arraigned before the court over the incident.

The trio were arrested in connection with the Wednesday, December 18, 2024, stampede that occurred at Islamic High School, Ibadan, resulting in the death of 35 minors, while others sustained injuries.

Chief Magistrate Olabisi Ogunkanmi gave the order following the arraignment of the suspects in court on Tuesday.

The Police prosecutor accused the defendants of committing an offense contrary to Section 324 of the Criminal Code, Cap. 38, Vol. II, Laws of Oyo State of Nigeria, 2000 in a four-count charge for which they were arraigned.

The court premises was filled with relatives of the defendants and other interested parties.

 

More to come…

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BIG STORY

JUST IN: Dele Farotimi Finally Released After 21 Days In Detention

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Dele Farotimi has been released from detention in Ekiti after spending 21 days in a cell, following a complaint from Afe Babalola, SAN, who accused the human rights lawyer of defamation in his recently published book Nigeria And Its Criminal Justice System, a global bestseller on Amazon.

Farotimi was released on Tuesday after meeting the bail conditions set by an Ekiti Chief Magistrate’s Court on December 20, according to fellow activist Omoyele Sowore.

“I am pleased to report that Dele Farotimi is no longer being held at the prison yards in Ekiti State and is now returning home to Lagos,” Sowore shared the news on his X handle today.

“The struggle continues! Happy holidays to you all!”

 

More to come…

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