Connect with us

latest

NERC Calls for Reassessment of NBET License Renewal Amid Concerns

Published

on

NERC Calls for Reassessment of NBET License Renewal Amid Concerns....KINDLY READ THE FULL STORY HERE▶

The Nigerian Electricity Regulatory Commission (NERC) has ordered the Nigerian Bulk Electricity Trading (NBET) to submit additional documentation for its license renewal. This decision follows a public hearing held in Abuja, where NERC expressed dissatisfaction with the presentation made by NBET’s Acting Managing Director, Mr. Johnson Akinawo.

During the closing remarks, NERC’s Commissioner for Legal and Licensing Compliance, Barrister Dafe Akpeneye, highlighted that Akinawo did not sufficiently justify why NBET should receive its license renewal. This license is set to expire on November 21, 2024. Akpeneye emphasized that there would not be another public hearing for NBET, but the commission is allowing a written submission to support the renewal request.

“In making those presentations to us, we expect you to have talked more about the issues,” Akpeneye stated. He underscored the importance of instilling confidence in potential investors, noting that the organization must address various concerns to build trust in its operations.

The commissioner reiterated, “NBET will not have another opportunity for a hearing. You have until November 21 to provide a proper written submission in support of your application.” He added that the commission has yet to make a final decision on the license renewal, stating, “The decision will be taken based on the strength of what you have presented before us.”

In his earlier presentation, Akinawo requested a ten-year renewal for NBET’s license, arguing that the Nigerian Electricity Supply Industry (NESI) is not yet ready for bilateral trading. He emphasized that NBET must remain the supplier of last resort in the electricity market and highlighted pending Power Purchase Agreements that still need to be finalized. Akinawo also expressed skepticism about the ability of the states approved by NERC to establish their own electricity commissions and manage tariff matters effectively.

Responding to these discussions, Mr. Edun Okeke, Managing Director of the Azura – Edo Power Plant, encouraged NERC to consider granting an indefinite license instead of the ten-year limitation proposed by Akinawo. According to Okeke, an indefinite license would enhance investor confidence, particularly among banks.

Making a case for the license renewal, former Market Operator Mr. Edmund Eje stressed that NBET continues to play a critical role in the electricity sector. His insights echoed the importance of maintaining a robust regulatory framework that supports both industry stability and investor assurance.

latest

“YOU SHALL FALL INTO THE PIT!” Natasha Blasts Akpabio With Fire And Fury Over Explosive Leaked Audio!

Published

on

Senator Natasha Akpoti-Uduaghan (representing Kogi Central) has publicly responded to the controversy surrounding Senate President Godswill Akpabio following the emergence of a leaked audio recording.....KINDLY READ THE FULL STORY HERE▶

According to reports, Akpoti-Uduaghan shared her stance via a Facebook post on Monday, September 21, 2026, where she alleged that Akpabio’s office has been distributing materials to media outlets for publication. Addressing the Senate President directly, she issued a stern warning that actions taken against her will ultimately backfire, writing:

“Dear Godswill Akpabio, Senate President of the Nigerian 10th Assembly… continue. Dear Punch Newspapers, Guardian Nigeria, and others… you may take the envelope and publish whatever Akpabio’s office sends to you. S.P. Akpabio, know that the pits you dig for me, you shall very well fall into.”

Context of the Leaked Audio

  • The Allegations: Her reaction follows fresh claims by U.S.-based activist Sandra Duru (also known as Prof Mgbeke), who published a nine-minute audio clip on social media.

  • The Recording: Duru claimed the audio features a male voice belonging to Akpabio and that he allegedly hired her to campaign against Akpoti-Uduaghan. This marks a shift from her 2025 claims, where she previously alleged that the Kogi senator tried to recruit her against the Senate President.

  • Further Disclosures: Duru indicated that this audio serves as a preview of more upcoming revelations regarding her purported dealings with Akpabio.

Continue Reading

latest

BLOCKBUSTER RULING: Appeal Court Flips Script On Magu’s EFCC Tenure In Stunning Legal Reversal!.

Published

on

The Court of Appeal in Abuja has set aside a previous Federal High Court ruling that validated Ibrahim Magu’s extended service as the acting Chairman of the Economic and Financial Crimes Commission (EFCC).....KINDLY READ THE FULL STORY HERE▶

The appellate court’s decision follows an appeal by Abuja-based lawyer and activist Johnmary Jideobi. He challenged Magu’s prolonged acting tenure after the Senate twice rejected his nomination for a substantive appointment.

Background of the Case

  • The Origin: Jideobi filed the initial suit in March 2017, arguing that Magu could not occupy the acting role indefinitely following his rejection by the Senate.

  • The 2019 High Court Ruling: Justice Ijeoma Ojukwu dismissed the suit, ruling that the EFCC Establishment Act contained a gap regarding the time limit for an acting chairperson, leaving the duration to presidential discretion.

  • The Appeal: Dissatisfied, Jideobi argued that keeping Magu in office violated statutory limits and that the acting appointment legally terminated once the Senate rejected his nomination.

Subsequent Developments

Magu’s tenure as acting chairman ultimately concluded in July 2020 following his suspension by former President Muhammadu Buhari over misconduct allegations, which Magu denied before an investigative panel.

Following his exit, Mohammed Umar Abba temporarily took over before Abdulrasheed Bawa was appointed as substantive chairman in February 2021. Bawa was later suspended in June 2023 by President Bola Tinubu, leading to the appointment of the current substantive chairman, Ola Olukoyede.

Continue Reading

latest

SCANDAL AT THE TOP: JAMB Fires Corrupt Staff Exposed In Shaking Extortion Ring!.

Published

on

The Joint Admissions and Matriculation Board (JAMB) has announced the dismissal of an employee found guilty of extorting candidates.....KINDLY READ THE FULL STORY HERE▶

In a bulletin released on Monday, September 21, 2026, the examination body stated that the staff member was sanctioned for exploiting unsuspecting candidates. JAMB emphasized that this action is part of broader measures to prevent officials from using their positions for personal gain and to protect the public from exploitation.

The board issued a strong warning to its entire workforce, stating that no employee, regardless of their status, would be shielded from disciplinary action for misconduct that compromises the integrity of the admission and examination process. JAMB reiterated its zero-tolerance policy for fraud, making it clear that both internal and external offenders will face the full consequences of their actions.

Continue Reading

Trending