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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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Metro

Flood threat looms as FG lists 226 LGAs in high-risk zones

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The Federal Government on Wednesday disclosed that no fewer than 226 Local Government Areas across 33 states and the Federal Capital Territory fall within high flood-risk zones in 2026.

The Minister of Water Resources and Sanitation, Joseph Utsev, made this known during the public presentation of the 2026 Annual Flood Outlook by the Nigeria Hydrological Services Agency held at the State Banquet Hall, Presidential Villa, Abuja.

Utsev said a total of 14,118 communities in 266 LGAs across the affected states and the FCT had been identified as highly vulnerable to flooding.

He listed the states as Abia, Adamawa, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Enugu, Gombe, Imo, Jigawa, Kaduna, Kano, Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe, Zamfara, and the FCT.

The minister added that 405 LGAs in 35 states fall within the moderate flood-risk category, with Ekiti State as the only state not captured under this classification.
He further noted that 923 communities in 77 LGAs across 24 states would experience minimal flooding.

“Low flood risk incidences are expected in Adamawa, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Jigawa, Kaduna, Kano, Kebbi, Kogi, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Sokoto, Taraba, and Zamfara,” Utsev said.

The minister also disclosed that the 2026 Annual Flood Outlook introduced a community-based flood forecasting system designed to provide location-specific predictions for faster response and intervention.

Meanwhile, President Bola Tinubu reaffirmed his administration’s commitment to strengthening emergency response systems and promoting sustainable development nationwide.

Represented by the Minister of Environment, Balarabe Lawal, the President said the government had reviewed existing challenges and acknowledged the critical role of rescue teams in mitigating disasters.

He noted that efforts were ongoing to enhance the capacity and coordination of relevant ministries for more effective and timely emergency responses.
Tinubu stressed that improved communication, strategic planning, and collaboration remained vital to addressing emerging challenges and ensuring better service delivery.

The President added that with strengthened systems in place, the government was confident of mitigating risks and improving outcomes for citizens.

The event, themed ‘Smart Water Resources Management: Moving From Oil To A Water-Based Economy’, was attended by ministers and key stakeholders in the water and environmental sectors.

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Robbers attack Akure health centre, abduct three workers

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Police authorities in Ondo State have confirmed a robbery attack at the Basic Health Centre in the Oke-Ijebu area of Akure, the state capital, in the early hours of Saturday.

It was gathered that three suspects armed with pump-action rifles and cutlasses invaded the facility after arriving in a black Toyota Venza, which they parked along the main road. The assailants reportedly scaled the perimeter fence to gain access to the premises.

During the attack, three health workers on duty were forcefully dispossessed of their personal belongings, including mobile phones and a Point of Sale terminal. The suspects subsequently whisked the victims away towards the Olokuta Correctional Centre axis along Ondo Road.

The spokesperson for the Ondo State Police Command, DSP Abayomi Jimoh, confirmed the incident in a statement issued on Saturday.

According to him, “Preliminary investigation reveals that the suspects ordered them to remove their clothing and subsequently abandoned them in the bush before fleeing the scene. The victims, however, found resort from nearby staff of the Correctional Service.”

Jimoh disclosed that security patrols had been intensified, while collaboration with other security agencies and local vigilante groups had been strengthened to enhance safety across the state.

He urged residents to remain calm, vigilant and law-abiding, adding that members of the public should promptly report suspicious activities or useful information to the nearest police station or other security agencies.

The police spokesman assured residents that the command remained committed to safeguarding lives and property and would not relent in efforts to rid the state of criminal elements.

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Gunmen Shoot Farmer, Abduct Wife in Akure

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Suspected kidnappers on Wednesday night shot a tomato farmer, Daniel Adesida, and abducted his wife during an attack on their residence along Oda Road in Akure, the Ondo State capital.

The incident reportedly occurred around 8:45 p.m., when the gunmen invaded the residence and attempted to whisk away the farmer’s wife.

Sources said Adesida sustained a gunshot injury to his right hand while trying to resist the attackers, who eventually escaped with his wife.

Confirming the incident, the Police Public Relations Officer of the Ondo State Command, Abayomi Jimoh, said police operatives swiftly responded after receiving a distress call.

According to him, officers mobilised to the scene, rescued the injured victim and ensured he received medical attention.

“Upon receiving the distress call, police operatives swiftly mobilised to the scene, ensured the injured victim was rescued and taken to the police clinic for medical attention, and secured the area,” Jimoh said.

He added that the Commissioner of Police in the state, Adebowale Lawal, had ordered an immediate manhunt for the fleeing suspects.

“The Commissioner of Police has ordered intensified patrols, bush combing operations and intelligence gathering within the affected area and adjoining communities with a view to apprehending the fleeing suspects,” he stated.

Jimoh assured residents that efforts were ongoing to rescue the abducted woman and bring the perpetrators to justice.

He also urged members of the public to remain vigilant and promptly report suspicious movements or individuals to the nearest police station.

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