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Fidelity Bank, Afreximbank take over Benin, Kano DisCos

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The federal government says Fidelity Bank Plc has commenced plans to finalise the takeover of Benin, Kano and Kaduna electricity distribution companies (DisCos).

Sanusi Garba, chairman, Nigerian Electricity Regulatory Commission (NERC) and Alex Okoh, director-general, Bureau of Public Enterprises (BPE), said this in a statement on Tuesday.

They said said the action followed the activation of collateralised shares of the DisCos by Fidelity Bank and African Export-Import Bank (Afreximbank).

The regulators also announced the restructuring of two other electricity distribution companies, namely Ibadan Electricity Distribution Company (IBEDC) and Port Harcourt Electricity Distribution Company (PHED).

The statement was titled, “Restructuring of Kano, Benin, Kaduna, Ibadan and Port Harcourt DISCOs”.

“Today, we were informed by Fidelity Bank that they have activated the call on the collateralized shares of Kano, Benin, and Kaduna (Fidelity and AFREXIM) DISCOs and that they have initiated action to take over the Boards of these DISCOs and exercise the rights on the shares,” the statement reads.

It said Fidelity Bank’s action was a contractual and commercial intervention, following an agreement between the core investors in the DISCOs and the lender.

“BPE is involved because of the 40% shareholding of government in the DISCOs,” the statement added.

It said Fidelity Bank informed BPE and NERC that the new board members of the Kano DISCo were Hasan Tukur, chairman; Nelson Ahaneku, member and Rabiu Suleiman, member, according to the statement.

Also, KC Akuma, chairman; Adeola Ijose, member and Charles Onwera; member, were said to be new board members for Benin DisCo, while Abbas Jega, chairman; Ameenu Abubakar, member and Marlene Ngoyi, member; as board members of Kaduna DisCos.

The FG said BPE had nominated Bashir Gwandu, Kano; Yomi Adeyemi; Benin and Umar Abdullahi, Kaduna as “independent directors to represent government’s 40% interest in the three DISCOs respectively, during this transition”.

“We are engaging with the Central Bank of Nigeria (as the banking sector regulator) to ensure an orderly transition and to ensure that Fidelity Bank does not hold the DISCOs’ shares in perpetuity,” the statement reads.

“It is envisaged that the majority interest in the entities would be sold to capable private sector investors willing and able to re-capitalize and manage the entities efficiently.

“We have also received assurances that Fidelity Bank will participate fully in all the ongoing market initiatives aimed at improving the sector (e.g. National Mass Metering Program).”

In the interim, NERC and BPE said they met on an emergency basis and “activated the Business Continuity Process and have appointed interim Managing Directors in the affected DISCOs”.
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They are Ahmad Dangana, Kano DISCo; Henry Ajagbawa, Benin DISCo and Yusuf Usman Yahaya, Kaduna DISCo.

On the takeover of Ibadan DisCo by Asset Management Corporation of Nigeria (AMCON), the BPE said it obtained approval from NERC to appoint Kingsley Achife as the interim managing director.

AMCON took over the IBEDC in January 2022 over insolvency.

“In a temporary capacity, the leadership of AMCON will be a placeholder Board for the Ibadan franchise (Ahmed Kuru as chairman, while Eberechukwu Uneze and Aminu Ismail will serve as members). Oluwaseyi Akinwale will represent the interest of government on the board alongside the DG of BPE,” the statement said.

The statement added that the regulators have also restructured the management and board of Port Harcourt DISCo to forestall the imminent insolvency of the entity.

“As a condition for support to the entity to meet its market obligations, Iboroma Akpana will take over as the Chairman of the Board. Emmanuel Okotete, Eyo Ekpo, Ismaila Shuaibu and the DG of BPE will form the interim Board. Benson Uwheru will take over as the Managing Director of PHEDC as part of the changes,” it said.

“Government will support the activation of Emergency funds through the Nigerian Electricity Market Stabilization Facility to support the entity while it goes through restructuring and repositioning to serve the citizens of the franchise area better.

“We are working with the Honourable Minister of Power to ensure no service disruptions during these transitions. We remain committed to supporting the Nigerian Electricity Supply Industry to serve Nigerians better.”

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Ondo alcohol deaths: 29 die, 60 affected

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No fewer than 29 people have died after allegedly consuming a suspected contaminated alcoholic beverage in Araromi-Obu and other communities in the Odigbo Local Government Area of Ondo State.

The Ondo State Commissioner for Health, Dr Banji Awolowo-Ajaka, disclosed this on Friday while briefing journalists in Akure.

Awolowo-Ajaka said 60 cases had so far been recorded, with three victims currently receiving treatment in hospitals and 27 others under medical observation.

He said 95 per cent of those affected were males aged between 16 and 55 years.

According to him, the affected communities include Orita Odigbo, Araromi-Obu, Newtown, Odole, Okele and Oniparaga.

The commissioner said the victims exhibited symptoms including headache, body pain, general weakness, visual disturbance, difficulty breathing and altered consciousness.

He added that some of the victims deteriorated rapidly, leading to death within a few hours.

Awolowo-Ajaka said the pattern of illness and the reported history of exposure had raised strong epidemiological suspicion that the victims were exposed to a toxic alcoholic substance.

He, however, stressed that the exact cause of the deaths had not been established through laboratory testing.

“The pattern of illness and reported history of exposure have raised strong epidemiological suspicion of exposure to a probable toxic alcoholic substance. However, we are yet to have laboratory evidence of the cause of the deaths,” he said.

The commissioner disclosed that 36 blood and urine samples had been collected from victims for laboratory analysis, while samples of the suspected alcoholic substances had also been submitted for toxicological investigation.

He said the investigation was being conducted in collaboration with relevant regulatory and security agencies.

As part of measures to contain the situation, the state government has imposed a temporary ban on the production and sale of locally brewed alcoholic herbal beverages in the affected local government area.

Awolowo-Ajaka added that several suspects found selling the substance had been taken into custody.

He urged residents to avoid alcoholic products from unlicensed sources and seek immediate medical attention if they experience blurred vision, difficulty breathing, sudden weakness, confusion or loss of consciousness after consuming alcohol.

The commissioner advised residents to take anyone exhibiting such symptoms to the General Hospital, Ore, or the University of Medical Sciences Teaching Hospital, Ondo, without delay.

He assured the public that the state government was working with national and international partners to identify the exact cause of the deaths and prevent further loss of life.

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Butcher Allegedly Hacks 25-Year-Old Wife to Death in Ekiti

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A 25-year-old woman has allegedly been hacked to death by her husband, a butcher, during a domestic dispute in the Dalimore area of Ado-Ekiti, Ekiti State.

The incident reportedly occurred on Wednesday when the couple went to the residence of a friend of the deceased’s father, who had offered to mediate in their unresolved marital dispute.

According to sources, the situation, which was initially intended to settle the couple’s differences, turned violent after an argument reportedly broke out between the husband and his wife.

The butcher was alleged to have attacked his wife repeatedly with a machete, leaving her with severe injuries.

She reportedly died from the injuries sustained during the attack.

The suspect was said to have fled the scene immediately after the incident, while the victim’s remains were reportedly taken away.

Speaking on the incident, a cousin of the deceased, identified as Yusuf, alleged that the woman had been planning to leave the marriage after becoming suspicious that some of her clothes and underwear were disappearing from the house.

Yusuf said the deceased had planned to travel to her sister’s residence on Thursday, September 10, as part of her plan to leave the marriage, but told her husband that she was going to her sister’s place for work.

He alleged that while she was preparing to leave Ado-Ekiti, the wife of her father’s friend invited her to the residence, informing her that her husband wanted to see her.

According to him, the woman went to the residence on Wednesday morning, unaware that her husband would also be there.

Yusuf said an attempt to resolve the couple’s differences subsequently degenerated into a physical confrontation, during which the suspect allegedly attacked the deceased with a machete.

He added that some people had been taken into police custody in connection with the incident, while the whereabouts of the suspect remained unknown.

Yusuf also alleged that the suspect fled with the deceased’s mobile phone, which the family believed could contain information that might assist the police in their investigation.

“We want him to be found and arrested. We want justice for our daughter. Her parents are in pain, and my family is in serious agony. She didn’t deserve this,” he said.

As of the time of filing this report, the Ekiti State Police Command had yet to confirm the incident.

The circumstances surrounding the woman’s death and the whereabouts of the suspect could not be independently verified.

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Oyo: Oseni Sympathises With Oranyan Traders Over Market Fire‎

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‎The All Progressives Congress (APC) Senatorial Candidate for Oyo South, Hon. Aderemi Oseni has commiserated with traders and business owners affected by the fire that gutted parts of the popular Oranyan Market in Ibadan North-East Local Government Area of Oyo State.

‎The fire, which occurred on Sunday night, reportedly destroyed several shops and goods, leaving affected traders to count losses running into millions of naira.

‎Among the businesses affected were jewellery shops, furniture outlets, second-hand clothing stores and other shops within the market.

‎Oseni, who is currently representing Ibarapa East/Ido Federal Constituency in the House of Representatives, in a statement by his Media Aide, Idowu Ayodele and made available to journalists in Ibadan, described the incident as “unfortunate and painful”, noting that the victims had suffered a major setback to their businesses and livelihoods.

He said the losses were particularly devastating because many of the affected traders had invested their hard-earned resources in their businesses and depended on them to provide for their families.

‎“I deeply sympathise with the traders and business owners who lost their shops, goods and other valuable properties in this unfortunate incident. Losing the fruits of years of hard work to fire is a painful experience,” Oseni said.

‎The APC chieftain urged the affected traders not to lose hope, saying efforts should be made by relevant authorities and well-meaning individuals to support them and help them recover from the disaster.

‎He called on the relevant government agencies to assess the extent of the damage and consider appropriate measures to assist the victims, stressing that “the affected traders should not be left to bear the burden of the disaster alone.”

The Chairman, House Committee on Federal Roads Maintenance Agency (FERMA) further urged market leaders and relevant authorities to strengthen fire prevention and emergency response measures, including the provision of functional firefighting equipment and ensuring easy access for emergency responders.

He said the incident should serve as a reminder that “more attention must be given to fire prevention and safety measures in our markets to prevent avoidable loss of lives and property.”

‎The lawmaker prayed for strength and comfort for the affected traders and their families, urging them to remain united and hopeful as they begin the difficult process of rebuilding their businesses.

‎He added that the losses suffered by the traders were “not merely about goods and shops, but about livelihoods built through years of sacrifice and hard work,” assuring them of his sympathy at the difficult moment.

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