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FG- Imo: :Regulatory Oversight of The State Electricity Market Is Now Underr ISERC

By Favour Ifeoluwa & Akinola Ajibade  The Federal Government yesterday( Monday) announced the transfer of Regulatory Oversight of the Electricity Market in Imo State to the state electricity regulatory commission, otherwise known as (ISERC). In a statement issued by the Nigerian Electricity Regulatory Common( NERC), the development is in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), reiterating that all transfers envisaged by this order shall be completed by 31 December 2024. According to the Commission,the transfer Order’s provisions include: “Direct Enugu Electricity Distribution Company (EEDC) to incorporate a subsidiary (EEDC SubCo) to assume responsibilities for intrastate supply and distribution of electricity in Imo State from EEDC, and that EEDC shall complete the incorporation of EEDC SubCo within 60 days from 27th June 2024. The subcompany shall apply for and obtain licence for the in
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Air Peace CEO, Onyema did not commit fraud, says US govt



By Akinola Ajibade


Contrary to allegations that the Chief Executive officer of Air Peace, Mr Allen Onyema has committed frauds in the United States,  the authorities in U.S has kicked against it.

According to A.O. Alegeh & Co Legal Practitioners & Notaries Public, a law firm contracted by Mr. Allen Onyema, the CEO of Air Peace, there was no fraudulent intent in all the Letters of Credit issued by his client.

It also declared that the money in the transaction were legitimate and belonged to Onyema.

According to the firm,findings by the United States Government and its judgment admitted there was no loss suffered by any bank in the country over the fraudulent allegation leveled against Onyema.

The law firm in a statement,said the conclusion of the indictment filed against Ebony Mayfield, an American and a former staff of Springfield Aviation Company, who was accused to have played a key role in an alleged bank fraud case instituted against Onyema on Friday, revealed that the act was with good intent.

It further hinted that Mayfield was also not given any prison sentence, confinement or home detention by the court at the end of the proceedings.

The indictment was filed against Mayfield by the United States Attorney for Northern District of Georgia at the District Court in Atlanta, Georgia on Friday, October 28, 2022.

According to the law firm, Mayfield, a former staff of Springfield Aviation Company Inc. was on Friday given probation and a $4,000 fine in respect of the criminal indictment filed against her by the United States Attorney for Northern District of Georgia after an investigation spanning over three years and involving about five agencies of the US Government.

“Ebony was an administrative staff with limited knowledge in Letter of Credit Transactions and pleaded guilty to one count in the indictment, presumably as she realized the futility of attempting to explain several Letters of Credit utilized for purchase of Aircraft for Air Peace Limited in a Jury trial. Probation is the lowest possible sentence available under US Federal Law.

“There was no loss of money or any damage whatsoever to any third Party. The US Government admitted in Court today that no Bank suffered any financial loss in this matter.There have been false and unsubstantiated press stories in Nigeria, about the Indictment and Ebony Mayfield,” the statement said.

The firm maintained that its clients never took loans or credit from any US Bank and Mayfield was never paid the sum of $20,000.00 at any time to commit any fraud, as is being peddled by a section of the Nigerian press.

It explained further that Mayfield, like other Springfield Aviation Company Inc. staff was only paid her bi-weekly salary and/or allowances, adding that stories were deliberately being peddled by a section of the media in the country with ulterior motives.

The firm emphasized that its clients maintained his innocence in the matter and insisted that all steps taken in respect of the Letters of Credit were in good faith and with legitimate funds.

He maintained the aircraft involved were brought to Nigeria and utilised in the operations of Air Peace Limited.

“There was no victim. There was no loss of funds to any person and there was no criminal intent whatsoever,” he added

It said its clients’ position had been reviewed by various law enforcement agencies in Nigeria and no evidence of criminality was established against them.

Reacting,Mr. Stanley Olisa, the Spokesman of Air Peace, expressed delight over the US judgment.

He regretted that a section of the media had been peddling false reports against Onyema, but the company remained silent because none of the stories was true.

He added:“We knew the source of those false reports and we decided to wait them out. We know that truth would eventually indict them and that is what has happened. In fact, the feelers we are getting are that concerned authorities in the US were aghast that a section of media in Nigeria was preempting the case and did not feel good about it.

“So Nigerians will know that all those distorted reports were done out of mischief. We know the truth would come and we decided to wait them out.”


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