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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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Empowerment: Katsina Partners Alternative Bank to Build Businesses

The Katsina State Governor, Diko Rabba says his  working with the Alternative Bank to empower local businesses in order to stimulate sustainable development across the state with innovative financial solutions..

The initiative marks a significant milestone for the bank, which launched its first branch in the state.

At the forum,  Radda, emphasised the importance of combating poverty, particularly in rural areas, urging the bank to collaborate with the state government in its efforts to address this challenge.

Represented by his Special Adviser on Banking, Malik Anas, the governor expressed confidence in the success of the nank in the region.

In his words, “One of our aims as a government is to enhance the growth of our people, especially those in rural areas. We seek the cooperation of The Alternative Bank in this area.

“We are ready to give the necessary support to the bank to forge ahead and contribute to the economic development of Nigeria.”

Also, the Emir of Katsina, Dr. Abdulmumin Usman, expressed confidence in the bank’s endeavours to set the stage for a harmonious relationship between the financial institution and its proud  community.in the state.

For her part, Fatimah Radda, the governor’s wife, echoed the state government’s support for the bank and stressed the importance of including the less privileged, such as widows and orphans, in the bank’s corporate social responsibility initiatives.

She remarked, “It was found out that a large number of people living in the local governments of Katsina are largely unbanked, presenting a massive untapped opportunity for the bank.”

Garba Mohammed, the Executive Director of The Alternative Bank, reiterated the institution’s commitment to financial empowerment for all customers, regardless of their status.

He echoed the bank’s focus on providing efficient and technology-driven services to facilitate customer and national growth.

His word, “The Alternative Bank is a bank with a difference. Apart from being a non-interest bank, we promise our customers prompt, loyal, efficient, and technologically driven services.

“We also promise to promote financial empowerment among our customers, irrespective of their status.

“When our customers grow, our bank will also grow. This will also lead to the growth and development of our dear country, Nigeria.”

The bank’s Regional Business Executive, Wada Nas, assured the Katsina business community and denizens that The Alternative Bank is committed to meeting their banking needs with honesty, professionalism, and competence.

He affirmed, “We will serve truthfully and prioritise your banking needs. You can be assured of our professional competence.”

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