News

CHEATERS: How DisCos Over-bill Customers By N105bn In 9 Months

Published

10 months ago

February 10, 2024

The Nigerian Electricity Regulatory Commission, NERC, has imposed a N10.5 billion fine on electricity distribution companies, DisCos, for over billion customers without meters to the tune of 105.05 billion in the first nine months of 2023.

The Commission in separate Orders issued to the DisCos on Friday said the utilities were in breach of an Order it issued in 2020 on capping of electricity billed to unmetered customers by the DisCos.

A selected check on the orders showed that Abuja Electricity Distribution Company, AEDC, over-billed its customers without meters to the tune of N17.874 billion while Eko Distribution Company, EKEDC, over-billed its unmetered customers by N13.137 billion.

Port Harcourt Electricity Distribution Company, PHEDC, over-billed its customers without meter by N14.187 billion with Kaduna Electric over-billing its customers by N1.145 billion.

NERC ordered the DisCos to refund the cheated customers in full and to ensure compliance in the future. To deter future occurrence, it imposed a 10 percent fine on the utilities.

The Commission explained that “The public may recall that in 2020, the Commission issued the Order on Capping of Estimated Bills (Order No: NERC/197/2020) and subsequently issued monthly energy caps which aimed to align the estimated bills for unmetered customers with the measured consumption of metered customers on the same supply feeder.

“A review of the Electricity Distribution Companies billing of unmetered customers for 2023 has revealed non-compliance with the monthly energy caps issued by the Commission.

“In response to this and in a bid to safeguard unmetered customers from arbitrary billing by DisCos, the Commission, pursuant to Section 34(1)(d) of the Electricity Act 2023 (“EA 2023”), has issued the Order on Non-Compliance with Capping of Estimated Bills (Order No: NERC/2024/004-014) which stipulates the following: “Credit Adjustment to Customers: DisCos are to issue credit adjustments to all overbilled unmetered customers for the period January to September 2023 by the March 2024 billing cycle.

“Public Notice: DisCos have been directed to publish the list of credit adjustment beneficiaries in two national dailies and on their website no later than 31st March 2024.

“Regulatory Sanctions: The Commission shall deduct a sum of N10,505,286,072 from the annual allowed revenues of the eleven (11) DisCos during the next tariff review, to deter future non-compliance with the energy caps approved by the Commission”.

Specifically, for Eko DisCo, the Commission said: “To forestall further non-compliance, a deduction of N1,413,766,176 which is equivalent to 10% of the Naira value of the total over-billing for the period January – September 2023 shall be applied to EKEDC’s annual OpEx over a rolling 12-month period during the next tariff review.

“Notwithstanding the provisions of section (11B)(i), and pursuant to the provision of section 34(2)(f) of the EA 2023, the Commission may deduct a greater percentage of the total over-billing from EKEDC’s admin OPEX where a non-compliance with capping Orders persists”.

News

House Approves President Tinubu’s N1.767trn Loan Request

Published

34 minutes ago

November 21, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has granted approval for the implementation of the new external borrowing of N1,767, 610, 321, 779.00 (USD 2.209B).

The approval was sequel to the adoption of the recommendations of the House Committee on Aids, Loans and Debt Management Chaired by Rep. Abubakar Nalaraba, and presented at the Committee of the Whole on Thursday.

Presenting the report, the Committee Chairman, Rep. Nalaraba said the committee met and made the following recommendations, which he entreated the House to approve.

He said: “Approve the implementation of the New External Borrowing of one trillion, seven hundred and sixty seven billion, six hundred and ten million, three hundred twenty-one thousand, seven hundred and seventy-nine Naira (₦1,767, 610,321,779.00) (equivalent of USD2, 209, 512, 902. 22b) at the Budget

Exchange rate of USD1.00/800 in the 2024 Appropriation Act and that the amount should be raised from one or more sources. Namely; issuance of Eurobonds in the ICM, Issuance of debut sovereign Sukuk in the ICM, Bridge/syndicated loans, subject to market conditions;

“That based on availability and cost, to issue Eurobonds in the sum of USD1.70 billion or more, but not more than USD2,209,512,902,.22b, approved as New External Borrowing in the 2024 Act;

“Given the significant increase in the official exchange rate from USD1.00/₦800 to approximately ₦1,640, it is recommended that the exchange rate excess resulting from this adjustment be exclusively utilised for implementation of capital projects in 2024, to ensure that additional funds are

directed to impactful infrastructure & developmental projects that will contribute to the Nation’s long term growth and stability;

“Approve the Promissory Note Programme and Bond Issuance to settle outstanding claims and liabilities of the federal government. This approval prioritizes the issuance of Promissory Notes to address outstanding reimbursement debts owed to States, high-priority judgment debts, and other liabilities incurred by Federal Ministries, Departments, and Agencies. This measure is critical to preventing additional interest costs, mitigating further increases in the Federal Government’s debt profile, and reducing the debt-to-GDP ratio;

“That the Hon. Minister of Finance and Coordinating Minister of the Economy, working with the Debt Management Office are authorised to take all necessary actions required to give effect to this.”

The lawmakers unanimously adopted and passed the recommendations.

News

Reps Direct IGP, DG DSS To Deploy Personnel To Etsako LGA Over Worsening Insecurity

Published

1 hour ago

November 21, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has directed the Inspector General of Police, Kayode Egbetokun, Chief of Defence Staff, General Christopher Musa and Director General, Department of State Services, Oluwatosin Ajayi to urgently deploy personnel to tackle the worsening insecurity in Itsukwi, Imiakebu, Imiegba and Okpekpe communities in Etsako East Local Government Area of Edo State.

The resolution was sequel to the adoption of a motion of urgent public importance on the “Urgent need to deploy security agents to Itsukwi, Imiegba, Okpekpe and Imiakebu communities to halt herdsmen’s onslaught against innocent citizens,” by Rep. Billy Osawaru, member representing Orhionmwon/Uhunmwode Federal Constituency, Edo State on Thursday at plenary.

Rep. Osawaru, drew the attention of the House to the provision of Section 14 (b) of the 1999 Constitution (As amended) on the need for government to provide security and welfare for the people.

He stated that Section 17 (b) of the Constitution provides that the sanctity of the human person shall be recognised and human dignity shall be maintained and enhanced; governmental actions shall be humane.

According to him, Chapter 4 of the nation’s Constitution in Section 33 (1) provides that “Every person has a right to life, and no one shall be deprived intentionally of his life, save in execution of the sentence of a court in respect of a criminal offence of which he has been found guilty in Nigeria.”

He said: “The House is aware that on Monday, October 28, 2024, herdsmen invaded Ugbereke, a popular farmland known for its fertility and destroyed completely the yam plantation of a youth leader in Itsukwi community (Ward 9, Etsako East Local Government Area, Edo State), Mr Samuel Igbeneghu.

“The House is also worried that on Tuesday, November 5, 2024, three farmers by the names Umuagene Obey, Emuesugheli Obi and Ogbitabu Imoudumhe (all from Okpekpe community in Ward 10, Etsako East Local Government Area of Edo State were ambushed on the way to their farms and brutally murdered by suspected herdsmen.

“Same day, the killers made their way to Ugbereke, and killed one Undyar Aondongu (male) while five women were beaten and left to flee with various degrees of injuries.”

The lawmaker stated that as a result of these violent campaigns, farmers in these communities no longer visit their farms for fear of being attacked or killed.

He therefore warned that if the Federal Government fails to take urgent steps to address the crisis, acute hunger owing to food scarcity would be the natural consequence, not just for the people of the area but the entire Etsako East Local Government Area and by extension, Edo State as a whole.

Then the presided officer, Speaker Tajudeen Abbas put itcto a vote, the House unanimously adopted the motion, observed a minute silence in honour of the dead and directed the immediate deployment of security agents to the four communities.

The House also mandated the Inspector General of Police and other relevant security agencies to investigate this tragic incident and fish out the perpetrators for prosecution, while also tasking them to Immediately step up the security surveillance to contain the escalation of insecurity within Itsukwi, Imiakebu, Imiegba and Okpekpe communities and beyond.

The legislative body also urged the Inspector General of Police, Chief of Defence Staff, DG, DSS, General Officer Commanding 2 Division of the Nigerian Army and the Commander, 4th Mechanised Brigade in Edpo State to deploy their personnel to Itsukwi, Imiakebu, Imeigba and Okpekpe communities to safeguard the lives and properties of the people.

The motion was subsequently referred to the House Committee on Army, Police, National Intelligence and Legislative Compliance with a timeframe of four weeks to report back for further action.

News

BREAKING: Finland Police Nab Simon Ekpa, 4 Others Over Terror-related Activities

Published

3 hours ago

November 21, 2024

Naijablitznews

The Central Criminal Police in Finland has announced the arrest of Finnish-Nigerian separatist agitator, Simon Ekpa and four other individuals over terror-related activities.

According to a tabloid in Finland, Ekpa, the self-declared Prime Minister of Biafra Republic Government In-Exile, was remanded in custody by the district court of Päijät-Häme on suspicion of public incitement to commit a crime with terrorist intent.

In a Thursday statement published on its website, the Central Criminal Police in Finland said it arrested five persons on suspicion of terrorist crimes.

The police said the main suspect was arrested “on suspicion of public incitement to commit a crime with terrorist intent”, while four others were arrested “for financing a terrorist crime”.

The police added: “Claims will be heard in Päijät-Häme district court today, November 21.”

The statement reads, “The detention demands are related to the preliminary investigation, in which a Finnish citizen of Nigerian background, born in the 1980s, is suspected of public incitement to commit a crime with terrorist intent.

“The police suspect that the man has promoted his efforts from Finland by means that have led to violence against civilians and authorities as well as other crimes in the region of South-Eastern Nigeria.”

The statement quoted the head of the investigation, Crime Commissioner Otto Hiltunen from the Central Crime Police as saying that “the man has carried out this activity, among other things, on his social media channels”.

“Four other persons are suspected of financing the aforementioned activity. All five suspects of the crime have been arrested during the beginning of the week.

“International cooperation has been carried out during the preliminary investigation,” the statement added.