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NERC Imposes N1.69 Billion Fine on Abuja Electricity Distribution Company for Overbilling

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NERC Imposes N1.69 Billion Fine on Abuja Electricity Distribution Company for Overbilling....KINDLY READ THE FULL STORY HERE▶

The Nigerian Electricity Regulatory Commission (NERC) has taken a significant step by imposing a fine of N1.69 billion on the Abuja Electricity Distribution Company (AEDC) for overbilling its customers. This penalty, documented in Order NERC/2024/114, highlights NERC’s commitment to ensuring fair billing practices and protecting consumer rights.

Details of the Fine

The fine was announced in the September 2024 Supplementary Order, published on NERC’s website on Thursday. Dated August 30, the order was signed by NERC Vice Chairman Musiliu Oseni and Commissioner for Legal, Licensing, and Compliance Dafe Akpeneye. The regulatory body emphasized that the penalty is a direct result of AEDC’s non-compliance with previous orders regarding capping estimated billing for electricity consumers.

Following an investigation into AEDC’s billing practices, NERC found that the company had overcharged customers from January to September 2023. This overbilling led to the fine, which represents 10% of the total overbilled amount.

Regulatory Measures and Directives

In addition to imposing the fine, NERC’s September 2024 Supplementary Order outlined adjustments to AEDC’s revenue requirements and tariffs. Specifically, the commission approved the deduction of N1.69 billion from AEDC’s annual operating expenditure, effective September 2024. This decision was made to penalize the company for its failure to comply with regulatory guidelines on estimated billing.

The order further emphasizes the need for AEDC to enhance service delivery and adhere to service-based tariffs. NERC highlighted that AEDC must monitor its service levels closely, particularly for electricity supply to Band A feeders. In cases where AEDC fails to deliver the committed level of service on a Band A feeder for two consecutive days, the company must publish an explanation on its website by 10 am the following day.

Improvements in Electricity Supply

To ensure better electricity supply, NERC has mandated AEDC to procure a minimum of 61 megawatts (MW) of embedded generation capacity, with at least 30 MW coming from renewable energy sources. This procurement must be completed by April 2025, aiming to improve reliability within AEDC’s franchise area.

New Tariffs and Customer Compensation

Effective September 1, 2024, NERC approved new tariffs for AEDC. The commission also outlined provisions for compensating customers for service failures, particularly for those served by Band A feeders. AEDC is required to compensate affected customers who experience an average supply failure of up to 20 hours, but more than 18 hours.

Commitment to Consumer Rights

This Supplementary Order remains in effect until a new tariff review is issued, underscoring NERC’s dedication to enforcing regulatory compliance among electricity distribution companies. By taking these actions, NERC aims to protect consumers from unfair billing practices and ensure they receive the service they deserve.

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How I Deposited Billions In Cash For Emefiele, Witness Reveals

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In the ongoing ₦7.8 billion fraud trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, a prosecution witness has provided testimony regarding massive cash deposits made on his behalf.....KINDLY READ THE FULL STORY HERE▶

Key points from the testimony of the third prosecution witness, Richard Agulu, a former Zenith Bank employee, include:

  • Cash Deposits: Agulu testified that he deposited billions of naira in cash on behalf of the former CBN chief, with the funds delivered to him by Emefiele’s former personal assistant, Eric Ocheme.

  • Account Handling: According to the witness, the money was either deposited into accounts for Kelvito Integrated Services and Ifeabigo Integrated Services or placed in the bank’s vault, following instructions allegedly relayed through Ocheme.

  • Banking Procedures: Despite the large sums, Agulu maintained that he followed standard banking procedures, noting that some clients were granted verbal waivers by senior officials to deposit large amounts of cash.

  • Refusal to Name Officials: When asked to identify the senior bank officials who provided these verbal waivers, Agulu declined to provide names to avoid getting anyone in trouble.

  • Additional Transactions: Agulu also testified that he supervised a transfer of ₦1.6 billion to MG Properties Limited.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Emefiele on eight counts, including criminal breach of trust, conspiracy, forgery, and unlawful possession of properties allegedly linked to proceeds of crime; Emefiele has entered a plea of not guilty. Eric Ocheme, who was named in the charges, is reported to be at large. Justice Yusuf Halilu has adjourned the trial for continuation on November 3, 4, and 5, 2026.

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“From Political Firebrand To Top Diplomat: Fani-Kayode’s Strategic Southern African Move!”

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Former Minister of Aviation, Chief Femi Fani-Kayode, has officially received his Letters of Credence for his role as Nigeria’s High Commissioner to South Africa, Lesotho, and Eswatini. Fani-Kayode announced the news on Tuesday, noting that the appointment followed the approval of the required agrément.....KINDLY READ THE FULL STORY HERE▶

The Letters of Credence were presented to him on behalf of President Bola Tinubu by the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye. Fani-Kayode stated that he is preparing to report to Pretoria to present his letters to South African President Cyril Ramaphosa and begin his diplomatic duties. Reflecting on his appointment, the former minister—who served in the aviation sector two decades ago—expressed his gratitude to President Tinubu for the trust placed in him and requested prayers for his success in this new role.

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“I’ll Kill For Her!” Kunle Fawole Drops Shocking Bombshell About Ex-Flame Yvonne Jegede!.

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Nollywood actor Kunle Abounce Fawole recently opened up about his relationship with his ex-wife, Yvonne Jegede, in an interview with Chude Jideonwu. While confirming that he no longer holds romantic feelings for her, Fawole emphasized that he maintains a deep sense of responsibility and respect for her as the mother of his son. He expressed a desire to avoid enmity, noting that he would never turn his back on someone he once cared for, and firmly declared his willingness to protect her from harm at all costs.....KINDLY READ THE FULL STORY HERE▶

In a candid conversation with Chude Jideonwu, Kunle Abounce Fawole reflected on his past marriage to Yvonne Jegede. When asked about his current feelings, the actor clarified that while the romantic spark is gone, his protective instincts remain strong. Fawole shared that he prefers to take the blame for past relationship struggles to avoid bitterness, stating that he refuses to harbor grudges. Ultimately, he underscored his commitment to her safety, asserting that he would go to extreme lengths—even potentially resorting to violence—to defend the mother of his child.

Option 3: Short & Punchy

Kunle Abounce Fawole has made it clear that while his romantic chapter with ex-wife Yvonne Jegede is closed, his dedication to her protection is unwavering. During a recent interview, the actor revealed he has no room for bitterness toward past partners. Though he no longer loves her romantically, he stressed that his status as the father of her son drives him to act as her fiercest defender, even going so far as to say he would “kill” for her if she were ever threatened.

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