Business
BEDC Committed To Resolving Customers’ Complaints – CEO, Osibodu
The Managing Director, Benin Electricity Distribution Company, BEDC, Mrs Funke Osibodu, says the distribution company is doing everything within its power to make sure customers’ complaints are attented to and resolved within the shortest time.
The Chief Executive Officer of BEDC disclosed this in Benin on Wednesday at a three-day Customers Complaints Resolution Meeting held in collaboration with the National Electricity Regulatory Commission, NERC.
INFO DAILY reports that the meeting held in collaboration with NERC was to take complaints of customers from BEDC franchise states of Edo, Delta, Ekiti and Ondo with a view to resolving them.
Osibodu, while stating that BEDC is committed to its customers’ satisfaction, urged customers to make sure they collect their evidence of complain whenever they make such complaint, just as she added that customers risk their complaint being trashed if their is no evidence.
While stating that the company has provided different channels through which customers can make their complaints, the CEO, however, advised customers to always go the faceless route (sending email) in making their complaints, stressing that this will generate them a number which serves as an evidence of complaint and that through this number such complaint is attended to.
Emphasising on BEDC’s commitment in resolving customers’ complaints, Osibodu noted that out of the 156,434 complaints received by the company from its franchise states of Edo Delta, Ekiti and Ondo in the last two years, 154,539 were treated.
READ ALSO: BEDC Commends Community Residents Over Arrest Of Vandals
A cross section of customers at meeting
Earlier, in her opening remarks, NERC’s Commissioner, Consumer Affairs, Aisha Mahmud said NERC is mandated to protect the interest of the public and resolve complaints as well as investigate complex issues with a view to finding lasting solutions to them.
Customers at the meeting lamented the epileptic power supply across the country and blamed NERC for not rising to its responsibility of not checking excesses of DiSCOs across the country.
Business
CBN Retains Interest Rate At 27%
The Monetary Policy Committee of the Central Bank of Nigeria has voted to retain the benchmark interest rate at 27 per cent.
CBN Governor, Olayemi Cardoso, announced the decision on Tuesday following the apex bank’s 303rd MPC meeting in Abuja.
Cardoso stated that the committee also resolved to keep all other monetary policy indicators unchanged.
READ ALSO:CBN Issues Directive Clarifying Holding Companies’ Minimum Capital
He noted that the Cash Reserve Ratio (CRR) remains at 45 per cent for commercial banks and 16 per cent for merchant banks, while the 75 per cent CRR on non-TSA public sector deposits was equally maintained.
Cardoso added that the Liquidity Ratio was retained at 30 per cent, and the Standing Facilities Corridor was adjusted to +50/-450 basis points around the Monetary Policy Rate.
The decision comes as Nigeria records its seventh consecutive month of declining inflation, which eased to 16.05 per cent in September 2025.
Business
CBN Issues Directive Clarifying Holding Companies’ Minimum Capital
The Central Bank of Nigeria, CBN, has issued a definitive directive detailing how financial holding companies should calculate their minimum paid-up capital, following weeks of confusion that delayed the release of some banks’ half-year and nine-month financial statements.
In a circular dated November 14, 2025, the apex bank acknowledged “divergent interpretations” of the term minimum paid-up capital as stated in Section 7.1 of the 2014 Guidelines for Licensing and Regulation of Financial Holding Companies.
To eliminate ambiguity, the CBN ruled that minimum paid-up capital must be computed strictly as the par value of issued shares plus any share premium arising from their issuance.
READ ALSO:CBN Sets POS Maximum Transactions In Fresh Guidelines
“All Financial Holding Companies are required to apply this definition in computing their minimum capital requirement—without exception for subsidiaries,” the circular stated.
The regulator added that the directive takes immediate effect, noting that any previous interpretation that does not align with the new clarification “should be discontinued forthwith.”
The move is expected to calm market anxiety and provide clarity for lenders navigating ongoing regulatory capital requirements.
Business
Naira Records Massive Week-on-week Depreciation Against US Dollar
The Nigerian Naira recorded massive week-on-week losses against the United States dollar at the official foreign exchange market.
The Central Bank of Nigeria’s exchange rate showed that the Naira dipped significantly to end the week at N1,456.73 on Friday, November 21, 2025, down from N1,442.43 traded on November 14.
This means that on a weekly basis, the Naira shed N14.06 against the dollar at the official market.
READ ALSO:
However, at the black market, currently battling with low patronage, it remained stable at N1,465, the same rate traded last week.
The development comes despite Nigeria’s foreign reserves rising by 1.25 per cent to $43.64 billion in the last week.
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