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Why Metering Under NMMP Is Slow — Ikeja Electric

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Mr Felix Ofulue, Head, Corporate Communications, IE, gave the figure at a news conference on Wednesday in Ikeja.

He said that 106,701 customers of the electricity distribution company had been scheduled to be installed with free prepaid meters under the phase zero of the NMMP.

Ofolue blamed the present situation on the slow pace of registration by its unmetered customers for the NMMP.

According to him, only 57 per cent of customers have so far completed the mandatory Know Your Customer (KYC) online application.

“The challenge we are having is that people are not going online to register. Only 57 per cent have done their KYC and some are even saying they don’t want meters.

“There is also the issue of separation of accounts by customers, which involves installation of their electrical connection to the required standard before they can be issued meters.

“Some of them have refused to do that and we cannot issue one meter for instance for five flats because it can easily get damaged.

“All those who are yet to register are enjoined to visit map.Ikejaelectric.com
to complete their registration as soon as possible,” he said.

Ofulue said that without their registration, the DisCo would not be able to get more allocation under the next phase of the programme.

He said that the plan to bridge the metering gap in the country had been given a boost with the $500 million funds from the World Bank.

The official advised customers to desist from attacking employees of the DisCo carrying out their official duties, warning that those involved would be prosecuted.

He urged the customers to help the DisCo to protect its electrical installations from vandals and energy thieves through its recently inaugurated whistleblower programme.

The News Agency of Nigeria (NAN) reports that the government had on Oct. 30, 2020 flagged off the NMMP.

The programme is aimed at closing the metering gap in the Nigerian Electricity Supply Industry to a set target by December 2021.

It will assist in reducing collection losses, while at the same time increasing financial flows to achieve 100 per cent market remittance obligation of the DisCos.

Objectives of the scheme also include the elimination of arbitrary estimated billing, improving network monitoring capability and provision of data for market administration and investment decision-making.

(NAN)

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Banks’ CEOs Hold Emergency Meeting Over BDCs’ Forex Ban 

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Bank Chief Executive Officers on Thursday, held an emergency meeting on how to ensure compliance with the new forex directive of the Central Bank of Nigeria.

After the meeting, they spoke during a webinar organised to give an update on the banks’ preparedness to be the main channel of forex distribution, following the recent discontinuity of forex supply to the BDC operators by the CBN.

The executives assured the public that banks would make forex available to customers in accordance with the CBN’s directives.

After the last Monetary Policy Committee meeting, the Central Bank Governor, Godwin Emefiele, had ordered all Deposit Money Banks to set up teller points at designated branches across the country to fulfil legitimate FX request for personal travel allowance, business travel allowance, tuition fees, medical payments and SMEs transactions, among others.

Speaking at the webinar, the Group Managing Director/Chief Executive Officer, Access Bank Plc, Herbert Wigwe, said, “The banking industry as a whole was willing and ready to carry out this function. The banks have very strict compliance measures, in terms of verification and making sure that people who do apply are eligible.

“All Nigerian banks will be able to meet these requirements. If you look at all the branches nationwide, you will know that the banks have more than enough capacity to do this.”

He said if the banks saw any compliance issues, or people attempting to do things cunning, they would be reported to the CBN because the banks would ensure full compliance with the order.

The Group Chief Executive Officer, Guaranty Trust Holding Company Plc, Mr Segun Agbaje, while speaking on the capacity of the banks to meet the customers demand, said, “It is not only the CBN that has the ability to fund the market; the banks also have the resources to meet the demand, and we have agreed collectively that it will start immediately.”

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NERC: Over 1m Electricity Consumers Have Received Prepaid Meters

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Labour Warns FG Against Electricity Tariff Hike 

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The Nigeria Labour Congress faulted plans to allegedly sell the Transmission Company of Nigeria, saying it will lead to an increase in electricity tariff.

The NLC President, Mr Ayuba Wabba, said this in a statement titled, “This Kite will not Fly’’ on Friday.

Wabba explained that instead of allegedly planning to sell the transmission company, FG should focus on improving the electricity supply.

He described the attempt to hand over the TCN to a few ‘privileged’ Nigerians as self-serving, obtuse, odious, morally reprehensible and criminal.

The NLC president said, “The TCN is a strategic economic asset of immense national security implications. This is because the TCN traverses all nooks and crannies of Nigeria.

“It will be wrong that our country will be deliberately exposed to an avoidable vulnerability and thus, provide an opportunity to others to restrain the Nigerian state.

“We apprehend that the planned sale of the TCN is only an attempt to further confound the people and concurrently raise electricity tariff. Unfortunately, this time around, Nigerians have had enough.

“The government cannot promise improved power supply to consumers by the planned sale of TCN. The under-the-table scheming as transparent privatisation cannot pass muster.

“It is an unsavoury narrative for our country, that even the privatised assets, which have survived the rapacity of the new owners, have been turned into unrealisable collaterals for unpayable loans.

“This constitutes a bone stuck in the throat of financial institutions and sundry creditors.”

Wabba explained that the plan would “fundamentally weaken the security of the nation and above all, deprive the people of their age-old investments in the commanding heights of the Nigerian economy”.

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