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Ibadan Disco Cries Out over N8.5Bn Debt by MDAs Debt

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Ibadan Electricity Distribution Company Plc (Ibadan Disco) has said it is owed over N8.5bn by ministries, departments and agencies of government.

Ibadan Disco Cries Out over N8.5Bn Debt by MDAs Debt

IBEDC, which covers Oyo, Ogun, Osun and Kwara states as well as part of Kogi, Ekiti and Niger states, put the debts owed to it by federal, state and local governments’ MDAs at N7.22bn, N1.15bn and N185.12m respectively

Mr John Ayodele, chief operating officer, IBEDC, said the company planned to spend N91bn in the next five years to improve network, meter customers and automate operations.

He said the Disco would deploy 104,000 meters in the first year and scale up yearly to ensure 98 per cent customer metering by 2024 to reduce losses.

Ayodele said the company would install 530 distribution transformers and 112 feeders in two years in addition to upgrading most of its network assets.

According to him, IBEDC will complement grid energy supply by partnering with alternative power suppliers through franchising model.

On the challenges facing the Disco, He said, “Tariff is still not cost-reflective. Increasing energy cost is driven by the impact of worsening exchange rate on gas price, capital expenditure, inflation, constraints on the grid, and frequent collapse of the grid.

“Energy theft/vandalism is a big problem. We recorded over 15,032 cases of energy theft between January and July 2021. Seven out of every 10 new meters installed are bypassed in the first week of installation.”

He lamented that the country lost over N200m last year as a result of about 122 cases of vandalism.

Ayodele said, “Non-maximum demand customers – that makes up 95 per cent of IBEDC customer base – do not pay their bills fully, even those that are metered. MDAs are owing over N8.5bn as at 2020.

“Thus, Discos are making huge losses monthly; Discos’ losses make it difficult for investors, both local and foreign, to invest in the industry.”

He noted that from 2017 to 2020, IBEDC performed its asset and customer enumeration to correctly capture the active customer base and integrate asset register and customer data to enhance service delivery.

 

 

 


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NITDA Supports CAC AI Driven Transformation

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By Oluwole Alao

Kashifu Inuwa CCIE, the Director General of the National Information Technology Development Agency (NITDA), has pledged the Agency’s full support for the Corporate Affairs Commission’s (CAC) artificial intelligence–driven transformation as the Commission marked its 35th anniversary in Abuja.

Delivering a goodwill message at the celebration, which was held at the Ladi Kwali hall of the Abuja Continental Hotel, Inuwa commended CAC for its uncommon consistency and resilience, noting that while many organisations rise and fall after initial success, CAC has continued on a steady growth trajectory.

“We know organisations go up and come down, but some will keep thriving, thriving, and thriving, and today, this is what we are witnessing for CAC,” he said.

Reflecting on his early engagement with the Commission, the NITDA boss recalled that the Registrar General made organisational transformation a priority from the very start of his leadership, particularly in embracing digital innovation.

According to Inuwa, the current era demands more than basic digitisation, stressing that meaningful transformation can only be achieved through the integration of artificial intelligence into core operations.

“We are in the AI era, and the only way to transform today is to embrace and integrate AI into your operations. This is exactly what the Registrar General is doing,” he stated.

He assured CAC of NITDA’s commitment to working closely with the Commission to embed AI across its numerous processes, explaining that the technology would infuse intelligence into workflows, simplify company registration and business management, and strengthen cybersecurity.

“We will make sure you integrate AI into CAC processes. With AI, it will infuse intelligence in everything you do and make things easy for Nigerians to register companies and manage businesses,” Inuwa averred.

The NITDA DG added that deploying advanced AI tools would help CAC staff stay ahead of fraudsters and curb hacking and fraudulent alterations of company records, while also safeguarding the system through responsible deployment.

“At NITDA, we will make sure you deploy ethical and responsible AI in your operations, with the right guardrails in place,” he assured.

He further described CAC’s digital reforms as bold and impactful, noting that the Commission has reduced company registration timelines from several months to as little as 24 hours. He added that further integration of AI would enhance name search and reservation, automate filings, improve corporate governance, and significantly reduce fraud.

He also highlighted NITDA’s ongoing role in reviewing CAC’s digital and AI transformation roadmaps, providing guidelines, standards, training support, and safeguards to ensure sustainable, people-centred, and secure digital services.

The NITDA DG congratulated CAC management, staff, and members of the National Assembly for their support, expressing confidence that the partnership would further strengthen Nigeria’s digital business environment in the years ahead.

 


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U.S. Slams Nigerians: Overstays Jeopardize All Visas

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The United States has warned Nigerians that overstaying their visas could jeopardise travel opportunities for other citizens seeking to visit the US for education, business, or family purposes.

U.S. Slams Nigerians: Overstays Jeopardize All Visas

The warning came amid ongoing immigration crackdowns and tighter travel restrictions under the administration of President Donald Trump.

In a statement posted on X on Monday, Feb. 9, the U.S. Mission in Nigeria stressed that compliance with visa rules is essential to protecting access for Nigerians who travel responsibly.

“Visa overstays by Nigerian travellers can affect opportunities for their fellow citizens,” the Mission said. “Strengthening compliance helps protect access for students, business travellers and families who travel responsibly.”

The Mission also urged Nigerians to report cases of visa fraud to [email protected] or [email protected]


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CAC Pushes Single National Register to Curb Corruption Loopholes

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Nigeria’s Corporate Affairs Commission (CAC) has urged creation of a unified national beneficial ownership register to bolster anti-corruption efforts and corporate transparency.

CAC Pushes Single National Register to Curb Corruption Loopholes

CAC

CAC Registrar-General highlighted how fragmented sectoral registers breed duplication, inconsistencies, and regulatory gaps during the Commission’s 35th anniversary Anti-Corruption Day in Abuja.

ICPC Chairman Dr. Musa Aliyu, via representative Demola Bakare, praised CAC’s role in fostering accountable business environments that drive sustainable growth.

Global evidence links transparent institutions to stronger economies, with clear rules, accessible data, and open operations as key pillars.

CAC’s oversight on company registration, disclosure, and compliance directly builds investor trust and national integrity, closing avenues for illicit financial flows.


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