Connect with us

General News

FG Extends Deadline for Afam, Kaduna Power Plants Bidders

Published

on

Benjamin Dikki, director-general of the Bureau of Public Enterprises, (BPE)
Kindly share this post

Federal government has extended the deadline for the payment of the balance of 75 per cent of purchase price by the preferred bidders for Afam Power Plc and Kaduna Electricity Distribution Company by additional 60 days.

It announced the extension yesterday through the Bureau of Public Enterprises (BPE)

It stated that it had granted the request for deadline extension made by Televeras Group and Northwest Power Plc, the preferred bidders for Afam and Kaduna power plants respectively, from August 6, 2014 to October 6, 2014.

Televeras had paid the initial deposit of 25 per cent of the bid price of $65,012,500 for the Afam power plant and Northwest Power Plc paid $40,750,000 for the Kaduna Disco following which the Share Purchase Agreement were executed by the two parties.

They were required to pay the outstanding balance of 75 per cent of the bid price within six months of the execution of the SPA on August 6, 2014.

A statement issued by Chigbo Anichebe, head, Public Communications, said Televeras Group had pleaded that the non-execution of the gas agreements required to bring the transaction to a financial conclusion and security challenges were reasons for seeking the extension.

Televeras Group, which is the preferred bidder for Afam Power Limited had on May 19, 2014 requested from the Federal Government an extension of time to pay the balance of the 75 per cent bid price for the firm.

It had stated that gas agreement that was germane to the completion under the Share Purchase Agreement it signed with the Federal Government had not been executed.

“Televeras noted that the bankability of the transaction was predicated on the execution of the gas agreement and that the non-execution of the agreement had made it difficult to satisfy the due diligence enquiry required for the raising of funds for the financing of its pre and post acquisition plans,” the BPE said.

For Northwest Power Limited, the preferred bidder for the Kaduna Disco, the bureau said the firm had on July 25, 2014, requested an extension of transaction timeline by 60 days due to the recent security challenges experienced within the power plant.

This, according to Northwest Power, made its offshore financiers to postpone disbursement of bank facilities already obtained.

The company explained that though it had secured financing for the transaction from a foreign bank, the financial institution had requested for additional time to review the transaction in the aftermath of the security challenges in Kaduna to ensure the adequate safety of its funds.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

General News

Kuda Unlocks Instant Online Accounts for NGOs and Religious Bodies

Published

on

Kindly share this post

Kuda has updated its business banking services to allow NGOs and incorporated trustees to open and manage business accounts entirely online. The move means religious organisations, charities, and other registered organisations no longer have to navigate the long wait and paperwork traditionally associated with setting up a business account.

Kuda Unlocks Instant Online Accounts for NGOs and Religious Bodies

Nosa Oyegun,

On the Kuda Business app, organisations registered with Nigeria’s Corporate Affairs Commission (CAC) can choose the NGO option during signup, submit their CAC documents, and provide trustee details. Once verified, accounts are activated within minutes, a significant reduction from the days or weeks it can take under traditional business banking processes.

For many NGOs and religious institutions, handling donations, grants, and operational expenses has long been slowed by manual systems and branch-based requirements.

The Kuda Business update is expected to make financial management faster and more transparent, allowing organisations to focus on their mission instead of battling administrative bottlenecks.

Nigeria is home to thousands of registered NGOs and religious organisations, with Lagos State alone accounting for over 10,000 churches and mosques as of the last count in 2021. Across the country, incorporated trustees play a critical role in education, healthcare, humanitarian response and community development. Despite their scale and economic relevance, access to modern digital banking tools has remained limited for many of these institutions.

Nosa Oyegun, SVP Business Banking at Kuda, said the update is proof of Kuda’s focus on removing structural barriers that slow Nigerian organisations down. “NGOs and religious organisations are responsible for managing funds that directly impact communities, yet they are often forced to operate with outdated banking processes,” he said.

“By enabling incorporated trustees to open Kuda Business accounts entirely online quickly, we’re giving these organisations access to the same modern financial tools built by Kuda that other businesses already use, so they spend less time doing admin work.”

With Kuda Business, NGOs and religious organisations can manage incoming donations and grants, make payments, track transactions in real time, generate professional account statements for audits and reporting, and grant controlled access to trustees, treasurers and administrators, all on a single app.

Kuda designed the account signup process to meet regulatory requirements while significantly reducing manual reviews and customer support workload. Automations shorten notoriously long business signup timelines while improving information accuracy and user experience.

As reforms promoting cashless payments and digital financial services take hold in Nigeria, NGOs and religious organisations are under increasing pressure from donors, partners and regulators to operate with greater financial transparency and efficiency.

The new Kuda Business update is therefore timely, offering a dedicated digital account specifically designed for this segment, unlike many traditional banks and fintech platforms that treat incorporated trustees as special cases requiring comparatively slower manual intervention.


Kindly share this post
Continue Reading

General News

Catholic Bishops Urge FG to Give Tax Laws Human Face

Published

on

Kindly share this post

Catholic Bishops of the Ibadan Ecclesiastical Province has called on the Federal Government to implement the ongoing tax reforms with equity, openness and empathy, cautioning that policies devoid of human consideration could further compound the suffering of millions of Nigerians.

Catholic Bishops Urge FG to Give Tax Laws Human Face

The appeal was contained in a communiqué released after the bishops’ first provincial meeting for 2026, which took place at the Jubilee Conference Centre in Ibadan, Oyo State.

The document was jointly signed by Most Rev. Gabriel Abegunrin, chairman of the Ibadan Ecclesiastical Province, and Most Rev. John Oyejola, secretary.

Recall that the tax reforms were introduced by the administration of President Bola Tinubu and assented to on June 26, 2025.

They officially came into effect on January 1, 2026, and have continued to attract diverse reactions across the country.

In the communiqué, titled “Sustaining Hope and Strengthening Our Good Efforts,” the bishops acknowledged the government’s desire to overhaul Nigeria’s tax system but expressed concern that its implementation had sparked widespread unease and debate, especially among the poor and vulnerable.

“The reforms should be anchored on fairness, transparency and accountability, urging the government to apply them with compassion.

“The bishops also advised that vulnerable citizens should be given sufficient time to adapt to the new tax regime before strict enforcement measures are introduced.”

The clerics warned that economic policies pursued without sensitivity could widen inequality and heighten social unrest, noting that taxation should not become an added burden for Nigerians already grappling with inflation, unemployment, and rising costs of living.

The bishops encouraged Nigerians to remain hopeful while backing prayers with responsible citizenship, diligence and respect for justice and the rule of law.

“As shepherds of God’s people, we urge Nigerians to reject cynicism and despair. Prayer must be accompanied by good works. This is the only country we have,” the communiqué concluded.


Kindly share this post
Continue Reading

General News

Taraba Adopts Electronic Case Management System

Published

on

Kindly share this post

Taraba State in Nigeria has developed an electronic platform for filing criminal cases in the state’s High Courts, marking the implementation of the new National Case Management System.

The launch, announced on Monday, marks a move from manual to electronic filing of criminal cases and is part of attempts to reform court processes and expand access to justice using technology.

Governor Agbu Kefas stated that the action underlines the government’s dedication to institutional strengthening, the rule of law, and effective governance.

Kefas pledged continued government support for the judiciary, noting that technology is essential for delivering swift, fair and transparent justice.

He also stated that the state would give the resources and infrastructure required to maintain the ongoing judicial reforms.

Justice Joel Agya, Chief Judge of Taraba State, stated that the e-filing facility will enable the electronic filing of originating processes and subsequent applications.

He explained that the system would enhance case tracking from filing to final determination while reducing delays caused by manual registry procedures.

Justice Agya went on to say that the platform would improve the security and accessibility of court records, as well as help judges manage dockets and time better.

He emphasised that the platform is intended to supplement rather than replace judicial decision-making, ensuring that administrative procedures do not impede the delivery of speedy justice.

The development is consistent with a broader national push to digitalise judicial processes across Nigerian courts, which has already been implemented in several regions.


Kindly share this post
Continue Reading

Trending