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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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Allegations Made Against Me Are False, Says Emefiele

CBN's Governor, Mr Godwin Emefiele


By Favour Ifeoluwa & Akinola Ajibade 


Barely few days after his bail from Kuje Correctional Center,  the immediate past Governor, Central Bank of Nigeria ( CBN), Mr Godwin Emefiele has described his arrest and subsequent detention by the Federal Government as malicious and  falsely made. 

In his reactions to the publications released by the Punch Newspaper and Premium Times online news platforms, the ex- CBN's helsman said a certain report credited to Punch and Premium News and  prepared by a Mr. Jim Obazee, who was appointed by the President as a private investigator was false. 

Emefiele said: " I have gone through the publications, and I say boldly that the contents of the said publications are false, misleading and calculated to disparage my person, injure my character and to serve the selfish interest of the private investigator". 

He said that his lawyers, due to the fact the matter has been submitted to the court for adjudication advised him not to speak on the issue for now. 

He, however, said that the need to address some of the issues raised in the publication  which are barefaced lies told by the investigator in order to achieve his satanic agenda, forced him to speak. 

According to Emefiele, there was no presidential approval for the Naira design contrary to the provision of the CBN Act 2007..

 "I wish to state unequivocally that there was indeed a presidential approval, and the said approval was handed over to the same Jim Obazee during the process of his investigation in the presence of senior CBN officials and his own investigator. 

Continuing further, Emefiele said the report, which also claimed that the sum of 6.23 million dollars was withdrawn from the CBN vault based on a false presidential directive bearing the signature of the former president Muhammadu Buhari GCFR, and that of the former secretary to the government of the federation (SGF), Mr. Boss Mustapha was not true 

He, however, said that his lawyers have been informed to ensure that his names are cleared from all the documents issued by the Jim Obazee and his team of investigators, stating he has no  knowledge of the directive attributed to the  former president and the Secretary General of the Federation.

Emefiele added that he was seeing the documents used in maligning his character for the first time, noting that he has challenged Obazee to publish the said documents and also the statements that he made to them.


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