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Following the unprecedented passenger movement at the Murtala Muhammed International Airport, Lagos occasioned by the Yuletide season, passengers are having a tough time reclaiming their luggages on arrival due to faulty conveyor belt. In-bound passeng...
The management of Transmission Company of Nigeria (TCN) on Tuesday assured Nigerians of steady and regular electricity supply.
Mr Jonathan Ndiagwaralukwe, the Executive Director (Systems Operations) of the TCN, gave the assurance in Abuja, while speaking with the News Agency of Nigeria (NAN).
``We are promising steady electricity not only during the Yuletide but also throughout the year; we are moving the sector forward.
``We are saying Nigerians deserve steady electricity supply and one of the cardinal points of this government is regular power day or night.
``All the efforts made in the past to improve the sector are gradually yielding fruits; we expect that the tempo would be sustained because all the investments made in the rehabilitation of power stations, transmission lines and even in power distribution are coming on-stream.
``Also, new projects are being inaugurated, especially the National Integration Power Projects (NIPPs) and new power stations.
``As regards steady gas supply to our thermal stations, which has remained a thorny issue; there is an improvement. Power stations are now getting gas and new NIPPs are coming on-stream,’’ he said
Ndiagwaralukwe reiterated that electricity supply would henceforth be stable and regular in the country, as the TCN had put requisite facilities in place to facilitate steady power supply.
He said that the TCN had installed new electricity transformers across the country, while reinforcing existing power transmission lines.
He stressed that the power sector was being overhauled via sustained investments in electricity generation, transmission and distribution, adding that this would enhance power supply to the people considerably.
Ndiagwaralukwe, however, urged electricity consumers to settle their bills promptly and regularly, particularly now that electricity supply situation had improved appreciably.
He, nonetheless, bemoaned the attitude of some people who burned bushes where PHCN’s installations were located, adding that some individuals were even fond of excavating sand near PHCN's facilities.
Ndiagwaralukwe stressed the bush burning and excavation of sand near PHCN’s facilities could endanger power supply and cause blackouts for the citizens.
He urged all Nigerians to vigilantly guard all PHCN facilities in their neighbourhoods, while reporting any act of vandalism to the police.
The management of PHCH EKO Electricity Distribution Company of Nigeria, on Tuesday appealed to electricity consumers within its zone to pay their outstanding bills to enable the station to discharge its duties effectively.
Mr Oladele Amoda, the Chief Executive Officer of the zone told the News Agency of Nigeria (NAN) in Lagos that consumers should assist the company in its efforts to provide stable and efficient power supply.
He said electricity supply had been stable in the zone due to the Federal Government's effort at ensuring adequate supply of gas and effective rehabilitation of power plants nationwide.
Amoda stressed that it would be difficult for PHCN to continue its operation in an environment where there was no corresponding response to investments and services rendered.
He said the zone invested so much in all the units under its network to sensitise customers to the need for the settlement of their debts ``so that the money would be returned to the source’’.
He said PHCN had no other source of funds, adding that increasing debts would impede its development in the areas.
He noted the cost of capacity improvement for the Agbara 132/33/11KV station from 90MVA to 150MVA and the creation of another 33KV and 11KV feeders meant to relieve the Badagry 33KV feeder, was quite enormous.
He assured the public that as gas supply continued to improve and more National Integrated Power Projects came on stream, the transmission and distribution companies would continue to harness available generation.
Amoda said: ``our doors are open for you to bring your complaints with the assurance of prompt response. We urge you not to relate with touts and encourage you to report any identified PHCN worker who attempts to extort money or asks for gratification from you,’’
He, however, gave the assurance of constant supply to customers during the Christmas season.
Amoda appealed to customers within the zone’s network to cooperate with the company to ensure adequate and prompt protection of electricity installations against vandalism.
The Transmission Company of Nigeria recently said that the country's generation hit 4,500 Megawatts, which was attributed to President Goodluck Jonathan's promise to improve power delivery to Nigerians.
Former Governor of the Central Bank of Nigeria (CBN) Dr Paul Ogwuma has warned against plans by the National Assembly to whittle down the powers of the CBN through the amendment of the CBN Act 2007. This is even as current CBN Governor, Sanusi Lamido S...
The Murtala Muhammed International Airport, Lagos, on Friday recorded passenger traffic of 4,664 processed for departure. According to Yakubu Dati, General Manager Corporate Communications, FAAN, “ This was the highest number recorded in the year...
The Central Bank of Nigeria (CBN) has directed the 16 Mobile Money Operators (MMOs) in the country to fully connect to the National Central Switch (NCS) before Feb. 28, 2013. The CBN gave the directive in a circular entitled “Ti...
The minister of transport, Sen Idris Umar yesterday flagged off the much-awaited Lagos-Kano Intercity Train Services and haulage of petroleum products by railway, lifting 450,000 litres of diesel billed from Lagos to Offa and commuting thousands of pas...
Two oil marketers, Aro Bamidele and Abiodun Bankole, yesterday said they were in talks with the Economic and Financial Crimes Commission (EFFC), regarding the N1.3 billion fuel subsidy charge preferred against them. They made this known through their l...
To drive the Cashless initiative and provide value added services to customers, during the festive season, United Bank for Africa (UBA) Plc, Africa's global bank, has removed access fees for all electronic channels and lowered transaction fees for its range of electronic products (e-products) and services.
Customers of the bank are now empowered to access banking transactions at significantly lower rates, across the bank's electronic platforms. The Bank's e-Banking products and services include UBA Debit and Prepaid Cards, U-Mobile (Your Bank on your Mobile) and U-Direct (Your Bank on the Web).
In addition, the bank has significantly simplified the enrollment process and removed the monthly access charge on Mobile banking (U-Mobile) and internet banking (U-Direct) channels and lowered the transaction fees on transactions done on U-Mobile, U-Direct and ATM channels.
Head e-Banking, UBA Plc, Dr. Adeyinka Adedeji said "the removal of channel access fee and significant reduction of our fees is well-timed. We want our Customers to be able to send money to loved ones during this season at minimal cost and with from the convenience of their mobile and internet. Our Debit and Prepaid Cards would also address the safety concerns prevalent during this period as our Customers don't have to carry cash around."
A major highlight of the UBA gesture, according to Adedeji, is the cancellation of N100 monthly access charge to U-Mobile and U-Direct for retail customers and removal of N150,000.00 enrollment fee for web payment gateway installation on Merchant's website.
He noted that UBA remains passionate about customer service and is committed to driving the cashless initiative including pioneering the use of e-banking products, point of sales (POS), web payment and Automated Teller Machines (ATMs) in the Nigerian banking industry as a way of improving baking services to its customers.
Transactions on the Nigerian Stock Exchange (NSE) opened for the week on depressed note on Monday as some major blue chips recorded price losses. A total of 277.36 million shares worth N3.3 billion were traded in 4,310 deals. This was against the 228.6...
The Pipelines Products Marketing Company (PPMC) says security agencies have promised to deploy massive securities personnel to all petroleum pipelines across the country to curb vandalism. PPMC’s Manager, Public Affairs and External Relations, Mr...
The Nigerian Association of Small and Medium Enterprises (NASME) has urged the Federal Government to formulate policies to checkmate the importation of items that were being produced locally. Mr Nerus Ekezie, the Director, Membership Service and Public...
The Securities and Exchange Commission (SEC) on Friday called on the Federal Government to inaugurate Unclaimed Dividend Trust Fund (UDTF) to deal with issues on unclaimed dividends.
Mr Edosa Aigbekaen, Director, Legal Services and Secretary to the commission, made the call at SEC 2012 Journalists' Academy in Abuja.
Aigbekaen said that the UDTF Bill, initially before the National Assembly, needed to be revisited to bring about sanity on the issue of unclaimed dividends in the nation's bourse.
"Nigeria needs a law guiding how the national burse treats matters of unclaimed dividends, `` he said.
Aigbekaen also called for the amendment of sections of the Companies and Allied Matters Act (CAMA) relating to the timeframe for unclaimed dividends to be reverted to originating companies.
He said that investors should be able to claim their dividends at any given time, stressing that once dividends were declared, they remained debts owed investors.
The secretary said that multiple applications for shares in the past, improper address of share holder and the inefficient postal system in Nigeria compounded the problem of unclaimed dividends.
He advised investors to embrace the e-dividend payment system to ensure payment of their dividends with 24 hours after they had been declared.
Mr Ade Bajomo, Executive Director, Market Operations of the Nigerian Stock Exchange (NSE), said that NSE would soon issue a minimum registration requirement for all participants in the market.
Bajomo said that the Exchange was working with the Central Securities and Clearing System to establish what should be the minimum requirement.
He said: "the Exchange wants to move away from paper dividend".
Mr Sola Ephraim-Oluwanuga, a legal practitioner, also supported the call for the establishment of UDTF.
Ephraim-Oluwanuga said that revenue from the UDTF could be ploughed into critical areas of the nation’s economy.
``The unclaimed dividends ought to serve our economic transformation agenda, `` he said.
The News Agency of Nigeria (NAN) reports that SEC had recommended the establishment of the UDTF in 2005.
SEC has always proposed that the unclaimed dividends should be managed by an independent body.
Gov. Isa Yuguda of Bauchi on Friday called on local government councils in the country to source for other means of generating internal revenues. He advised them to depend less on federal grants. Speaking in Bauchi at the closing ceremony of a workshop...
Turnover of shares traded on the Nigerian Stock Exchange dropped by 235.6 million shares on Friday as investors exchanged 228.6 million shares worth N2.1 billion in 4,193 deals. The News Agency of Nigeria (NAN) reports that this was against the 4...