The Federal Government has blocked crypto currency transactions in the country for allegedly aiding criminal activities.
The magazine however learnt that the ban on crypto platforms may not be unconnected with the ongoing efforts to save the Naira.
Top ministry and CBN officials are not happy that the crypto sites are being used to undermined the naira by speculating its value against the American dollar, sources said.
According to sources who spoke yesterday, the federal government has ordered the telecommunications companies in the country to block crypto transactions on their platforms.
In response, the magazine learned that top telecoms firms such as MTN, Glo, Airtel, 9 Mobile, amongst others have banned major crypto currency websites such as Binance and OctaFX on their platforms.
But major crypto website Binance said on Tuesday that that it’s working with the federal government to stabilise Nigeria’s foreign exchange market
“As industry leaders, we are working hand in hand with local authorities, lawmakers, and regulators to ensure we act on non-compliance,” Binance said in a statement.
The website had two days ago disabled sell option for its Nigerian users, blocking them from selling fiat currency, USDT, on the platform, aside from capping the buy option to $1802 for Nigerian users.
It also disabled purchase of cryptocurrencies via P2P for its Nigerian users, leaving those who might want to sell their crypto assets such as Bitcoin, BNB, Ethereum via P2P stuck.
“More serious measures will be demanded from these platforms in the future for any review to happen, if any at all,” a top source in the Presidency said on Thursday.
The development is coming less than three months after the Central bank of Nigeria, CBN, reviewed its stance on crypto assets in the country and asked banks to disregard its earlier ban on crypto transactions.
The CBN had in a circular dated December 22, 2023, with reference number FPR/DIR/PUB/CIR/002/003, and signed by the apex bank’s Director, directed commercial banks to allow their customers to trade in Virtual Assets
.
The circular read in part: “The CBN, in February 2021 issued a circular restricting banks and other financial institutions from operating accounts for cryptocurrency service providers in view of the money laundering and terrorism financing (ML/TF) risks and vulnerabilities inherent in their operations as well as the absence of regulations and consumer protection measures.
“However, current trends globally have shown that there is a need to regulate the activities of virtual assets service providers (VASPs) which include cryptocurrencies and crypto assets. Following this development, the Financial Action Task Force (FATF) in 2018 also updated its Recommendation 15 to require VASPS to be regulated to prevent misuse of virtual assets for ML/TF/PF.
“Furthermore, Section 30 of the Money Laundering (Prevention and Prohibition) Act, 2022 recognises VASPs as part of the definition of a financial institution.
“In addition, the Securities and Exchange Commission in May 2022 issued Rules on Issuance, Offering and Custody of Digital Assets and VASPs to provide a regulatory framework for their operations in Nigeria.
“In view of the foregoing, the CBN hereby issues this guideline to provide guidance to financial institutions under its regulatory purview in respect of their banking relationship with VASPs in Nigeria. “
The circular was signed by the Head, Financial Policy and Regulation Department, Haruna Mustafa.
The Nigerian Police Force, NPF, has reintroduced the tinted glass permit for vehicle owners in the country.
This was made known by Muyiwa Adejobi, an Assistant Commissioner of Police and the Force spokesman in a statement he shared on his X handle on Thursday.
According to him, the force aimed to curb insecurity and criminal activities in the country through the permit.
Recall that the Force had in 2022 bared its men from demanding for tinted glass permit from motorists following serious complaints of harassment by not a few Nigerians that some policemen have turned it to a money-spinning business.
Recently too, some four police officers were charged in Lagos for demanding the permit from motorists.
But in the statement titled: Internal Security: Police Review Issuance of Tinted Glass Permit; Trains ICT Analysts, Enforcement Officers Nationwide For Compliance,” the force said “ICT Analysts and Enforcement Officers with the necessary skills and knowledge” will now be trained “to regulate the registration process,” to make enforcement seamless.
Below the statement in full:
NTERNAL SECURITY: POLICE REVIEWS ISSUANCE OF TINTED GLASS PERMIT; TRAINS ICT ANALYSTS, ENFORCEMENT OFFICERS NATIONWIDE FOR COMPLIANCE.
In a bid to enhance national security and curb criminal activities facilitated by the misuse of tinted glass, the Nigeria Police Force has concluded its review of the issuance of tinted glass permits, previously banned in June 2022. The ban was initiated due to widespread concerns regarding the role of tinted glass in aiding heinous crimes such as kidnapping, armed robbery, the illegal transportation of firearms, human trafficking etc.
With the proposed lifting of the ban, stringent measures are being implemented to prevent abuse and ensure strict compliance with guidelines governing the issuance and use of tinted glass permits. ICT Analysts and Enforcement Officers nationwide will undergo a comprehensive training scheduled for the 29th of February, 2024, as a prequel to the reopening of tinted glass permit issuance.
The training will equip ICT Analysts and Enforcement Officers with the necessary skills and knowledge to regulate the registration process, guide registrants on the use of the portal where required, attend to complaints from members of the public, and enforce compliance effectively. It will focus on the intricacies of the new guidelines, emphasizing the importance of maintaining a delicate balance between public safety and individual freedoms while safeguarding national security.
The proposed tinted glass permit will incorporate distinctive features aimed at enhancing enforcement efficiency and security. These include a QR code linked to a central database for real-time verification, unique serial numbers correlated with vehicle and owner details, as well as a digital hologram ensuring authenticity and integrity, among other measures.
It is crucial to highlight that the guidelines for the issuance of tinted permits and the use of tinted glass will strictly adhere to the provisions of the MOTOR VEHICLES (PROHIBITION OF TINTED GLASS) ACT 1991 and other relevant extant laws. This strategic approach underscores the commitment of the Nigeria Police Force to prioritize public safety while upholding individual rights and national security interests.
The Nigeria Police Force remains committed to providing updates to the general public on the implementation of the reviewed process of tinted glass permit issuance, ensuring transparency and accountability in its efforts to maintain internal security.
The Chief opposition voice and the Presidential Candidate of the Labour Party in the 2023 General Election, Peter Obi, has taken a swipe at the Federal government for their inconsistent duty charges at the nation’s ports.
Obi’s views were contained in an X handle message on the various actions and policies by this government that are making the business environment very hostile in the country.
“I wish to kindly call on the Federal Government of Nigeria to end the inconsistency in duty charges as it was affecting the general business atmosphere in the country. The federal government should stop the arbitrariness and ever-changing customs duties as it is now negatively impacting businesses and the cost of items, and this portends a huge danger to the economy.
“A situation where at the point of initiating importation, Form M and other documents related to the importation are based on a particular rate of exchange, for example, N1000 to $1, being the prevailing exchange rate at the time which the importer of goods has used to calculate the entire process, from the import initiation to receipt of goods in his warehouse. Then suddenly when the goods arrive in Nigeria, and duties are calculated at different rates, say N1400 to $1, it becomes a serious business challenge that results in business losses.
“Such arbitrary charges will obviously lead to further closure of businesses, and attendant job losses. This is because at the time of the initiation of the business, calculations, including duties, have been made based on the prevailing exchange rate, and the prevailing market prices.
“If this situation is not corrected, our importers may resort to using other ports of nearby countries, a situation that will leave our ports under-productive, and further deepen our economy into a worse situation.
“The government should also show consistency in its policies as this will help with economic forecasting and business planning. Businesses are dying and manufacturers are shutting down because of the poor and inconsistent economic policies of the government.
“All efforts of the government should be directed at supporting businesses, especially those in the manufacturing sector, to keep the businesses afloat and keep the economy growing, as the small business sector, remains the most critical engine of economic growth.
A former Head of State, Gen. Yakubu Gowon has appealed to Nigerians to be patient with the federal government in its effort to address the current economic crisis in the country.
Gowon spoke after meeting with President Bola Ahmed Tinubu in Aso Villa, Abuja, the nation’s capital on Wednesday.
The former leader’s appeal also come on the heels of similar ones by the president’s children, Seyi Tinubu and Folashade Iyabo-Ojo to Nigerians to give their father more time to address the problem of hunger in the country.
The cost of food and other households items have spiraled beyond control in the last few weeks, as inflation has risen to close to 30 percent, according to the National Bureau of Statistics, NBS.
As a result, protests have surfaced in major cities across the country as angry Nigerians demand immediate solutions.
But speaking after a close door meeting with President Tinubu yesterday, Gowon urged Nigerians to exercise more patience, saying the government ‘is trying its best to deal with the various problems of the country.”
According to him, it’s too early to criticized President Tinubu, adding that no good leader would do anything against the interest of his people.
Gowon said: “I think the government is trying its best to deal with the various problems of the country but with Nigerians, you will get criticised. People who get there know better than you know. I think all one can say is Nigerians, we’ve got to give the president time for things to be really done.
“It is too early to sort of say absolute result, perfect result will be achieved now. That is my opinion. I know and if I can remember when I was fighting the war, I was told I was too slow and that probably Nigeria cannot make it and that we should now seek discussion. Well, did we do it or not? They probably do not know the problem underground, so that is where we are.”
Worried by the turn of events in the once united and cooperative sub-continent, the Economic Community of West African States, (ECOWAS), a former Nigerian Head of State, General Yakubu Gowon has called for a cease fire among the feuding body.
Gowon, one of the founding fathers of the regional body advised that all parties in the present logjam should be ready to shift position just as he urged the lifting of the sanctions imposed on Mali, Burkina Faso and Niger Republic.
In an open letter to the Heads of State and the ECOWAS Member States, Gowon stated:
“I have noted with deep concern and sadness, the past and recent developments unfolding in the West African sub-region, particularly the pronouncement by Burkina Faso, Mali and Niger of their intention to exit from the Economic Community of West African States.
“As one of the founders of our regional economic community, it is incumbent upon me to speak on behalf of the 14 Heads of State and Government who joined me in Lagos, on 27th May 1975, to establish ECOWAS.
“Since its inception, the regional bloc has made a number of major accomplishments, including trade liberalisation, right of West Africans to live legitimately in any country within the community, as well as successful peacekeeping operations in Liberia and Sierra Leone.
“ECOWAS, despite its shortcomings, has become an example of regional integration for the wider continent. Having achieved all of the above, it saddens me to learn that ECOWAS is threatened with disunity following the announcement by Burkina Faso, Mali and Niger, three important member states, of their intention to leave the community.
“The impact of such a decision will have far-reaching implications for the ordinary citizens who have been the major beneficiaries of regional integration.
“Therefore, on behalf of all the founding fathers of the community and myself, I urge the ECOWAS Authority of Heads of State and Government, including the leaders of Burkina Faso, Mali and Niger, to put aside their differences and reunite for the peace, stability and prosperity of our sub-region.”
The former Nigerian Leader, while proferring solution to the crisis, suggested that “all West African leaders to immediately consider the lifting of all sanctions that have been imposed on Burkina Faso, Guinea, Mali and Niger.
“All 15 ECOWAS Heads of State should discuss the future of the community, regional security, and stability, as well as the role of the international community given the current geopolitical context.”
The crisis followed a military putsch in the three West African countries, which prompted the regional body, being led by President Bola Tinubu to impose sanctions on them.
In response to this, they announced their withdrawal from ECOWAS with a bow not to have anything to do with it.
The 15-nation ECOWAS was formed in 1975 to promote economic integration in member states.
On Monday, February 26, 2024, the Honourable Justice Chioma Egondu Nwosu-Iheme, PhD, and ten other Supreme Court Justice-designates, will be sworn-in as Supreme Court Justices in Abuja. Venue is the Supreme Court of Nigeria, Abuja, and to preside is the Chief Justice of Nigeria, CJN, the Honourable Justice Olukayode Ariwoola.
Nwosu-Iheme, popular among her very few friends as “Madam Justice”, a name, ironically, fondly given to her by gunmen who kidnapped her in Benin on October 30, 2019 in the line of duty. Awed by her carriage, calm demeanor and courage, in the face of a thin line between life and death, they, in reverence, as soon as they realized, 24 hours later, from the Media, who she is, began to address her as “Madam Justice.”
Nwosu-Iheme, at the time of her abduction, was the Presiding Judge of the Court of Appeal, Benin Division, and was on her way to Owerri when she was abducted within Benin City.
To be sworn-in alongside Justice Nwosu-Iheme are:
*Hon. Justice Jummai Hannatu Sankey, OFR.
*Hon. Justice Chidiebere Nwaoma Uwa.
*Hon. Justice Moore Asimov’s Adumein.
*Hon. Justice Obande Festus Ogbuinya.
*Hon. Justice Stephen Adah.
*Hon. Justice Habeeb Adewale Abiru.
*Hon. Justice Jamalu Yammama Tukur.
*Hon. Justice Abubakar Sadiq Umar.
*Hon. Justice Mohammed Baba Idris.
They were recommended to President Bola Tinubu for elevation to the Supreme Court by the National Judicial Council, NJC, during its 104th Meeting on December 6, 2023 where it considered the list of Candidates presented by its interview Committee.
Born on 2, February 1959, Nwosu-Iheme is the first and only female Judge in Nigeria to earn a PhD. She is, also, the second female Judge from Imo State to be appointed to the Supreme Court. The first was the Honourable Justice Mary Peter-Odili, now retired, who is married to the former Governor of Rivers State, Dr. Peter Odili.
Nwosu-Iheme, noted for her courage and no-nonsense attitude, was appointed a Judge of the Imo State High Court in 1995. In 2008, she was elevated to the Court of Appeal.
She is married to Chief Uzoma Nwosu-Iheme, a very successful businessman and entrepreneur, who, in his younger years, was a Commissioner in the Imo State Government.
The couple is blessed with very successful children and lovely grandchildren.
When the 11 Supreme Court Justice-designates are sworn in on Monday, the Supreme Court of Nigeria will, for the first time in as many years, have its full compliment of 21 Justices.
For now, it has only 10 Justices who are over-burdened by all sorts of cases.
The attacks, taunts and apparent persecution of Godwin Emefiele, the immediate past governor of the Central Bank of Nigeria (CBN) have beclouded the uncommon historic development finance activities he initiated and implemented. The development appears to be a uncommon attempt to rubbish what ordinarily should be acclaimed as progressive imprints in favour of the economy. Nigeria’s unenviable culture of use and dump is what is playing out on Emefiele. For never in the history of the CBN has the apex bank played such a more direct progressive and positive role to impact the real sector of the economy.
I am not saying that all was well under Emefiele’s CBN. As a matter of fact, no sector of the economy would excel on its own when the entire Nigerian system is comatose. The CBN as a subset of a faulty Nigerian system cannot excel with all the ills plaguing Nigeria. That was why it couldn’t achieve its set targets. Persecuting or attacking Emefiele on the ground of systemic failure he did not cause is vindictive and amounts to chasing the wind.
For instance, farmers who were given loan to boost food production could not go to their farms due to ravaging insecurity not caused by Emefiele. Industrialist who were given loan to boost production could not perform due to epileptic power supply and bad roads not caused by the CBN. The examples are unending showing how a faulty system negatively affects every sector under it. The CBN is no exception.
CBN’s interventionist policies in different sectors of the economy, particularly the real sector was unmatched. The extent of the intervention was more than enough to give boost to the economy if the general operating environment was conducive. My concern now is what becomes of the interventionist policies under a new helmsman who may not buy into the progressive vision of Emefiele. Are the policies going to be sustained or are they going to be discarded because the new power brokers don’t like the face of Emefiele who initiated them? That would mean throwing the baby with the bathwater and that would be a disservice to the economy. It would be foolhardy to discard the policies without realising the full benefits for our distressed economy.
The CBN came up with the interventionist policies to address the needs of the real sector with the aim of achieving a variety of economic targets among which was the need to address financial exclusion by locating easy access to credit to give impetus to the development of priority sectors of the economy. The philosophy behind the schemes and programmes in the real sector was to stimulate affordable and sustainable finance to priority sectors and segments of the economy, particularly, agriculture, manufacturing and small and medium scale businesses. The schemes aimed at providing low-cost and long-term funding for enterprises within these sectors and segments involved in large scale processing or secondary production activities. The development finance interventions of the CBN were transmitted through schemes and programmes ranging from credit guarantees and interest rebates to indirect lending.
Godwin Emefiele
Under Emefiele, the CBN initiated and implemented as many as 43 programmes and schemes that positively impacted different sectors of the economy. The catalogue of interventions included the popular Anchor Borrowers Programme ( ABP), Accelerated Agriculture Credit Scheme ( AACS), Commercial Agriculture Credit Scheme ( CACS), Family Homes Financing Initiative ( FHFI), Micro Small and Medium Enterprises Development Facility (MSMEDF), National Youth Investment Fund (NYIF), Tertiary Institutions Entrepreneurship Scheme (TI ES), Youth Entrepreneurship Development Programme (YEDP), TRSDERMONI, among many others.
Under agriculture, for instance, the CBN’s Anchor Borrowers Programme (ABP) reportedly contributed between 2 to 2.5 million metric tonnes of rice paddy annually to the national output. In the same vein, the programme supported maize production amounting to over 1.12 metric tonnes from financed projects across the country besides the cultivation of over 1.41 metric tonnes of cassava and the domestic production of its derivatives namely starch, ethanol, sorbitol, etc. In sum, a total of over 4.59 million smallholder farmers are cultivating some 6,135,150 hectares of 21 agricultural commodities across the country.
Apart from rice and cassava, the other commodities cultivated under the ABP include cocoa, cotton, groundnut, soya bean, wheat, sorghum, ginger, castor seed, tomatoes, yellow pepper, cowpea, onion, among others financed through 23 participating financial institutions.
Furthermore, the ABP contributed to the increase in yield per hectare for maize and rice paddy cultivation from an average of 1.5 to 4.5 metric tonnes, cotton yield from1.5 to 2 metric tonnes per hectare and wheat from 1.3 to 3 metric tonnes. Besides, CBN as part of its strategic response to assuage rising food prices released some 190,000 metric tonnes of maize directly to feed millers from its Strategic Maize Reserve (SMR).
Under the Commercial Agricultural Credit Scheme, the CBN financed the expansion of agricultural operations with 67.6 per cent of financed projects acquiring new or additional equipment.
It is noteworthy that as a result of these interventions, there is progressive decline in the nation’s major food import bill from US$ 3.23 billion in 2014 to US$ 0.59 billion in 2018, which represents an 82 per cent decline in import bill.
Under Agribusiness Small and Medium Enterprises Investment Scheme (AgSMEIS), the Bank financed 40, 884 projects covering agriculture, cottage industry, manufacturing and services etc. The AgSMEIS has thus boosted the productive capacity of the domestic equipment fabrication industry across the country.
Besides agriculture and production activities, the Bank also delved into other productive sectors of the economy. For instance, under the Creative Industry Financing Initiative (CIFI), the Bank financed some 373 projects cutting across fashion, software development, information technology (IT), movie industry etc. Unknown to many, some of the top Nollywood movies were financed by the Bank. Some of the major titles financed under CIFI include Legend of Inikpi, Yeku, Tiwa’s Baggage and Damaged Goods. The initiative has created significant number of direct and indirect jobs thereby reducing the rate of unemployment.
Thus, in an effort to curb the unemployment challenge in the country, the Bank initiated the Targeted Credit Facility (TCF) through which it financed 830,831 beneficiaries made up of 684,441 households and 146,390 SMEs.
Furthermore, the CBN provided a N12.5 billion seed fund for the youths. Under the intervention, funds were disbursed to 7,057 beneficiaries, comprising 4,411 individuals and 2,746 small businesses throughout the country.
Under the Bank’s Entrepreneurship Development Centres (EDC) initiative, 55,422 nascent entrepreneurs were trained, with 18,598 having access to single digit finance which led to the creation of 37,069 jobs.
On energy and infrastructure, the Bank financed a total of 1,403.3 megawatts (MW) of power supply under the Bank’s energy and infrastructure scheme to produce a new capacity of 944.3 MW. The improvement in power supply services was expected to reduce domestic production costs, improve industrial capacity utilisation and poverty alleviation among Nigerians. The industries serviced included fast moving consumer goods , steel production, cement, packaging, agro allied, Independent Power Plant (IPP), and wood products at various percentages.
The Power and Airline Intervention Facility (PAIF) created a cash flow for recurrent expenditure through interest differential. Through PAIF), the Bank leveraged additional private sector investment by attracting private sector players in the Nigerian power sector. By the arrangement, private investors were required to provide 30 per cent of the total project cost while the initiative provides the remaining 30 per cent.
The intervention has also enabled the electricity distribution companies (Discos) to carry out projected Capex through issuance of Letters of Credit (LC) for the purchase of over 704,928 meters comprising 3-phase smart and single phase meters.
The Nigeria Bulk Electricity Trading – Payment Assurance Facility (NBET-PSF) has stabilized the electricity market to ensure the continued existence and operation of generating companies and gas suppliers.
Furthermore, the Nigeria Electricity Market Stabilization Facility (NEMSF) financed the recovery of 1,180 megawatts capacity through rehabilitation of 10 gas turbines at Geregu, Transcorp Ughelli and Ibom thermal power plants and three hydro-power stations at Shiroro, Jebba and Kainji dams.
Under the National Mass Metering Programme (NMMP), the CBN financed the procurement of 657,562 electricity meters through 17 Meter Asset Providers (MAP) and 9 distribution companies (Discos).
The CBN had mapped out strategies for the recovery of outstanding loans owed to it. These include monitoring and recovery, timely loan reconciliation with PFIs, issue demand notice on outstanding facilities and implementation of global standing instruction, among others.
The foregoing highlights the robust economic enhancement schemes and programmes initiated and implemented by the CBN under Emefiele. As earlier indicated, these uncommon economic policies could lift the economy from its dysfunctional quagmire. The question is what is being done now to sustain these vibrant economic policies in order to leverage the pathetic state of affairs in the country. The economy is currently in a worse situation. What is the new CBN governor doing to get the battered economy out of the doldrums? The ball is in the court of President Ahmed Tinubu and his CBN governor Cardoso.
Onyekakeyah, PhD, is of the Editorial Board of the Guardian Newspaper, Nigeria
With all arrangements concluded for the installation of the Emir of Ilorin Alhaji Ibrahim Sulu- Gambari as the 5th Chancellor of the Bayero University Kano BUK on March 2,2024 the authorities of the University of Abuja have expressed confidence that the rich academic and leadership trajectories of the revered Monarch will radically impact positively on the institution and beyond.
In a statement issued on Wednesday, February 21, by the Spokesperson of UNIABUJA, Dr Habib Yakoob and made available to The Source, the Vice Chancellor Professor Abdul- Rasheed Na’ Allah noted that Emir Gambari’s appointment is an eloquent testament to his exceptional leadership qualities, unwavering dedication to education and esteemed contributions to the development and growth of the academic community in Nigeria.
Professor Na’ Allah observed that the Ilorin Emirate Monarch’s distinguished services to the advancement of knowledge, proven track record of leadership abilities and capabilities without doubt have played a significant role in shaping the landscape of the academic community in particular and the nation at large.
He described Emir Gambari’s appointment as the BUK Chancellor as not only being a reflection of his personal accomplishments, but also a source of inspiration to aspiring academics and leaders across the country.
“As the Vice Chancellor of the University of Abuja, I am confident that your ( Emir Gambari) tenure at BUK will be marked by continued excellence , innovations and steadfast commitment to the pursuit of academic excellence and research which we have seen you consistently demonstrate when carrying out related responsibilities ” Professor Na’ Allah who hails from Ilorin stated.
Alhaji Gambari who is the 11th Emir of the Ilorin Emirate will be on his third assignment as a University Chancellor having served in similar capacity at Nnamdi Azikiwe University Awka and University of Agriculture Makurdi.
His installation ceremony billed to hold on the BUK Campus is expected to draw many notable Northern figures in particular, and others including top Government officials from across the country.
All appears set for the official commissioning of the 186 Megawatts Geometric Power Plant, the parent company of the Aba Power Limited Electrical APLE.
The $800 Million worth Power Generating and Distribution Outfit, originally billed for commissioning on February 24 2024, will now be flagged off on Monday February 26 according to a statement by the Management on Wednesday February 21.
The Commissioning Ceremony, expected to be graced by President Bola Tinubu, and Abia State Governor, Dr Alex Otti, and other high profile Government officials Captains of industry, and top business players from across the country, is coming on the heels of the plea by Aba residents for an improved service delivery and a realistic and humane billing system .
The Source reports that since taking charge of the power needs of Aba Ring Fence comprising the nine Local Councils of Abia South Senatorial zone in the last two years, Consumers have had more sordid tales to narrate than pleasant ones.
The Professor Bath Nnaji backed power Generating Company, which is also one of the country’s 12 licensed Electricity Distribution outfits, has largely been embroiled in a crisis of confidence with the larger part of its consumer base, the fulcrum of which centers on accusations of poor service delivery, arbitrary estimated billing and outright extortionist and exploitative tendencies.
Some Aba residents who volunteered comments, while expressing happiness over the imminent commissioning of the Gas-powered turbines that is expected to provide 24 hours power to nine out of the 17 Local Councils of Abia state, urged the company not to take undue advantage of its monopolistic position to exploit the consumers.
We have been monitoring the service delivery level and billing methods of APLE ( Geometric) since it took over the Aba Ring Fence two years ago. And we believe that the company is reaping off the residents and other consumers with unprecedented exploitative billing system for services barely rendered.
“We have seen a lot in the past two years and we wish to let Geometric know that all of us in Aba are not ignorant of the situation in the last two years. We were only sympathetic, but unfortunately, they ( Geometric) took it for granted . It will never repeat itself any more ,as any extortionist and exploitative tendencies by the power company will receive adequate public attention” a concerned resident stated.
But a top Management staff of the Power company, who craved anonymity revealed on Monday February 19, that the problem of epileptic power supply and general poor service delivery is not peculiar to Geometric, but a national phenomenon, resulting from the harsh operating environment which most of the Discos have found themselves.
He, however, expressed optimism that Aba Residents and, in deed consumers generally will witness a new dawn as efforts have been concluded for the commissioning of the Outfit.
” In the first place ours is a unique Disco, in that we are the only one out of the lot that is generating its own power.
“All this while, we have been trying to put things in shape, while at the same time trying to meet the power needs of our consumer base from the national grid ,which every body is aware of the problems there in.
“But now we are about to generate our own power in line with the terms of our operational mandate.
“We are licensed. to produce 186 Megawatts of power, while the power need of our area of coverage is 144 megawatts for now.
“We have three Gas powered Turbines ,each with 47 Megawatts. We are going to power one before the commissioning ceremony. And thereafter we will power the other two.
“Our assurance is that from now on it is a win, win situation for Aba residents and our consumers in all the areas of our operation.
“But the consumers have to take up their own responsibilities by way of meeting their own obligations in terms of prompt and regular payments and protection of the facilities in place” the top management staff stated.
Organised Labour in the country has decided to press on with its protest slated for next week. There is no going back the Nigerian workers said, despite government appeal to them to shelve the protest in the interest of the country.
The Nigerian Labour Congress, NLC, and Trade Union Congress, TUC, had last week issued a two-day protest notice to the federal government over the hardship in the country resulting from the high cost of living. The protest will take place between February 27 and 28, the union said.
The two unions had earlier issued a 14-day strike notice to the government over the non-implementation of the 16-point agreement reached by the parties in October last year.
The Department of State Services, DSS, had urged the NLC and TUC to shelve the two-day protest in the interest of the country, saying it could be hijacked by hoodlums to cause chaos.
Reacting on Wednesday, Joe Ajaero, NLC President said it is within workers’ right to embark on peaceful protest, while security agencies are to ensure that troublemakers are not allowed to foment trouble.
Ajaero said they would not succumb to DSS blackmail to jettison the protest, which he said, is necessary to call the attention of the government to the suffering of Nigerians due to high cost of living in the country.
The NLC Leader said labour is concerned “concerned by the unsolicited advice of the Department of State Security to shelve our planned protest against the unprecedented high cost of living in spite of the indescribable suffering in the land, spiralling inflation, deepening poverty and the Naira at an exchange rate of N1,900 to the US Dollar.”
He said further: “According to the Service, the planned protest should be shelved “in the interest of peace and public order”, pre-supposing that the action is intended to be violent and disruptive even when we have a history of peaceful protests.
“More worrying is the new role the Service has assigned to itself, the chief spokes person of the government.
“According to the Service, “It is common knowledge that all levels of Government are striving to ameliorate the prevailing economic condition and as such, should be given a benefit of the doubt, So far, appropriate authorities are working assiduously with a spectrum of stakeholders to fashion out modalities to address the current difficulties”.
“We are equally worried that although the Service is aware that some elements are planning to use the opportunity of the protest to foment crisis and by extension, widespread violence”, and yet have not executed the arrest of these elements.
“We are equally intrigued by the innuendos of the Service, their philosophy of “peace” and wild allegations and we want to reassure them that no one loves this country more than us and on our honour, we would never do anything that will compromise its sovereignty or security.
“Having said this, we would not have ourselves blackmailed or lied against by the Service. Our protest is a peaceful one against the unpardonable cost of living of which the unserviced personnel of the Service are also victims. We cannot fold our hands and pretend all is well. That will be a grievous conspiracy that history will not forgive.”
The magazine learned today that the federal government has started consultations with the two unions in other to ensure that the protest is shelved.
This is due to fear that some unscrupulous elements could hijack it to their own gain, which could spiral into a serious security problem for the government.
