Business

BEDC Continues House Metering Across Four Coverage States

Published

6 years ago

December 7, 2019

Editor

In line with Nigerian Electricity Regulatory Commission (NERC)’s directive, Benin Eletricity Distribution Company (BEDC) PLC, Saturday, December 7th, continued it metering of houses at Aiguobasimwin Crescent and its environs, GRA, Benin City and other three coverage states of the company

The event which kick started across the four BEDC coverage states two weeks ago, is aimed at putting an end to estimated bill.

BEDC members of staff attending to customers on metering in Benin City on Saturday

Speaking to Info Daily on behalf of the Head, Corporate Affairs Unit of the BEDC, Mrs. Gloria Mbagwu, said after the metering of houses at the area, any house whose owner fails or refuses to come for enumeration and metering in the area would be disconnected.

“Before we came here, we made an announcement via Radio and Television stations,, including distribution of fliers to create awareness about this programme, so, we are here for business. I want to assure you that any house that fails to come for enumeration and there after metering will be disconnected. We are not coming back here. So, we will not hesitate to disconnect any building that refuses to comply”, she added.

Asaba: BEDC members of staff attending to customers who came for metering in Asaba, Delta State.

Mbagwu, however, noted that a desk has been created at the GRA customer care office to cater for complaints arising from the metering.

Responding to question on how long it takes to be metered, Mbagwu noted that it only takes 48 hours for a customer to be given a meter after passing through all the required processes.

Giving further enlightenment on simplicity of the process, she said “all what a customer needs to do is to come for registration and enumeration after which what is regarded clean up (Network clean up) will follow.

Akure: Metering in Akure

She added that clean-up is followed by registration and filling of MAP application form, there after debt reconcilation/rescheduling. She noted that the debt reconcilation stage was necessary so as to settle all discrepancies arising from underestimated or overestimated bill.

She explained that after a customer must have gone through the previous processes, members of staff of the BEDC would go to such customer’s premises for inspection and in readiness for metering.

According to her, after payment, the proper metering would take place.

Ado Ekiti: Members of BEDC staff attending to customers in Ado Ekiti.

Speaking to Info Daily shortly after being registered, a customer who wants his name not mentioned expressed satisfaction in the whole process.

He said though there was something BEDC has been doing to him in the past, has he came for the metering, personnels have been sent to his house and his complaint has been attended to without delay.

“I don’t want to be quoted in the media but I want to say so far so good, what I saw over there has been satisfactory to me. The people I met in the process are very polite and willing to listen to any of your complaint and attend to such.

“There has been something that I have been expressing displeasure over in my house regarding electricity, but as I came here and lodged the complaint, they have sent their electricians to my house and resolved it, so I am absolutely satisfied”, he added

Business

Nigerian Stock Market Hits 10th Consecutive Uptrend As investors Gain N308bn

Published

1 day ago

October 10, 2025

Editor

The Nigerian Stock Market recorded its 10th consecutive uptrend as investors raked in N308 billion gain on Thursday.

This comes as the Nigerian Exchange Limited, NGX, market capitalisation, which opened at N92.490 trillion, appreciated by 0.33 per cent to close at N92.798 trillion on Thursday.

Also, the All-Share Index added 0.33 per cent, or 485.25 points, to close at 146,204.34, compared with 145,719.09 recorded on Wednesday.

Increased trading in Eunisell Interlinked, Caverton Offshore Support Group, Sunu Assurances, Industrial and Medical Gases, Mecure, and 27 other advancing stocks boosted market performance on Thursday.

To this end, the market breadth also closed positive with 32 gainers and 21 losers.

Further analysis showed that Eunisell Interlinked and Caverton Offshore Support Group led the gainers’ chart by 10 per cent each, closing at N44 and N6.93 per share, respectively, while FTN Cocoa Processors led the losers’ table by 6.67 per cent, closing at N5.60 per share.

Market activity showed a decline in the number of deals and volume traded but an improvement in trade value.

Accordingly, a total of 346.99 million shares worth N27.43 billion were traded in 24,691 deals, compared with 525.72 million shares worth N13.61 billion exchanged in 25,597 deals on Wednesday.

Fidelity Bank topped the activity chart with 42.01 million shares valued at N861.54 million.

According to DAILY POST, NGX has continued its bullish run from last month’s end to date.

Business

CBN Sets POS Maximum Transactions In Fresh Guidelines

Published

3 days ago

October 8, 2025

Editor

The Central Bank of Nigeria has rolled out fresh guidelines for agent banking, known as Point of Sales, across the country.

The apex also in the guidelines pegged daily POS transactions at N1.2 million per agent and N100,000 per individual.

CBN disclosed this in a circular signed by its Director of the Payments System Management Department, Musa Jimoh.

The guidelines further mandate all financial institutions to publish the list of all their POS agents on their website and to display it in their branches.

CBN noted that the guidelines would take effect from April 1, 2026.

“The Guidelines aim to establish minimum standards for operating agent banking in Nigeria, enhancing agent banking to provide financial services and promoting financial inclusion, encouraging responsible market conduct and improving service quality in agent banking operations.

“This circular takes effect from the date of release, while the implementation of agent location and agent exclusivity shall be in effect from April 1, 2026.

“POS agents are restricted to a maximum of N1.2 million per day. Individual customers are limited to N100,000 in daily transactions.

“These limits are intended to curb misuse, enhance financial integrity, and protect consumers within the agent banking framework,” it stated.

Business

Naira Records First Appreciation Against US Dollar At Official Market

Published

3 days ago

October 8, 2025

Editor

The Naira recorded appreciation on Wednesday against the United States dollar at the official market, the first time in three days this week.

The Central Bank of Nigeria’s exchange rate data showed that the Naira strengthened to N 1,470.62 per dollar on Wednesday, up from N1,471.09 traded on Tuesday.

This means that the country’s currency firmed up slightly by N0.47 against the dollar on a day-to-day basis.

Monday and Tuesday, the Naira recorded negative sentiment at the official foreign exchange market.

However, at the black market, the Naira remained unchanged at N1,500 per dollar on Wednesday, the same rate exchanged on Tuesday.

The apex bank data indicated that the country’s external reserves, a determinant of the exchange rates, stood at $42.57 billion as of October 7, 2025.