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NERC Constitutes New Board For BEDC, Says It Has Power To Regulate Distribution Companies
Published
3 years agoon
By
Editor
The Nigerian Electricity Regulatory Commission, NERC, has affirmed the new Board of Directors and Management of the Benin Electricity Distribution Company, BEDC, headed by Henry Ajagbawa
The NERC in a statement issued on Thursday, September 1, 2022, reiterated that the BEDC “is a distribution licensee of NERC and by virtue of powers vested in the Commission by the Electric Power Sector Reform Act (“EPSRA”), regulatory instruments issued pursuant to EPSRA and the terms and conditions of the licence issued to BEDC; NERC is the primary authority that is vested with powers to statutorily recognise the board/management of BEDC as an operator in the Nigerian Electricity Supply Industry (NESI)”.
The Commission stated that the BEDC is a jointly owned venture with Vigeo Power Ltd holding an equity of 60% and 40% being held by BPE on behalf of the Federal and State Governments.
The statement disclosed that “One of the shareholders in Vigeo Power Ltd, Vigeo Holdings Ltd, subscribed to its shares vide a loan from Fidelity Bank Ltd”, adding that “In the light of a default in servicing the said loan, the bank has exercised its rights to repossess these shares that were provided as security for the acquisition of the loan”.
READ ALSO: BEDC Management Faults Takeover, Assures Customers Of Continuous Operations
NERC stressed that “the interim board comprising of Messrs Henry Ajagbawa, K.C Akuma, Adeola ljose, Charles Onwera and Yomi Adeyemi are the only directors of BEDC recognised by the Commission”.
The full text of the statement reads:
“The attention of the Nigerian Electricity Regulatory Commission (“NERC” or the “Commission”) has been drawn to public notices signed by Mr. Lucky Ayomoto purportedly acting on behalf of the board/management of BEDC Electricity PlC (“BEDC”).
“The public notices published on 9 August 2022 sought to reassure the general public on the legitimate and statutorily recognised board of directors/management of BEDC and described the appointment of Messrs Henry Ajagbawa, K.C Akuma, Adeola ljose, Charles Onwera and Yomi Adeyemi as directors of BEDC as an “unlawful misrepresentation and unfortunate misadventure”.
“BEDC is a distribution licensee of NERC and by virtue of powers vested in the Commission by the Electric Power Sector Reform Act (“EPSRA”), regulatory instruments issued pursuant to EPSRA and the terms and conditions of the licence issued to BEDC; NERC is the primary authority that is vested with powers to statutorily recognise the board/management of BEDC as an operator in the Nigerian Electricity Supply Industry (“NESI”).
“The general public may wish to note that BEDC is jointly owned by private investors with Vigeo Power Ltd holding an equity of 60% and 40% being held by BPE on behalf of the Federal and State Governments. One of the shareholders in Vigeo Power Ltd, Vigeo Holdings Ltd, subscribed to its shares vide a loan from Fidelity Bank Ltd. In the light of a default in servicing the said loan, the bank has exercised its rights to repossess these shares that were provided as security for the acquisition loan.
“Upon repossession of shares of Vigeo Holdings Ltd by the bank, an application was filed by the Banks and the Bureau of Public Enterprises (“BPE”) with the Commission for the approval of an interim board of directors and management for BEDC in compliance with NERC’s business continuity arrangements for licensees.
READ ALSO: BEDC Committed To Resolving Customers’ Complaints – CEO, Osibodu
“The Commission reviewed and approved Messrs Henry Ajagbawa, K.C Akuma, Adeola liose, Charles Onwera and Yomi Adeyemi as interim board of directors for BEDC with Mr. Henry Ajagbawa as Managing Director.
“The Commission notes that the erstwhile management of BEDC challenged the appointments in court after the regulatory and shareholder interventions had been completed.
“The actions taken by the contending parties for the control of BEDC has been primarily unsettling for end-use customers in Edo, Ekiti, Delta and Ondo States that are reasonably concerned about continuity of their service and other.”
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News
FG Security Agency, Nigerian Army Move To Tackle Illicit Small Arms, Light Weapons
Published
5 hours agoon
August 27, 2025By
Editor
The National Centre for the Control of Small Arms and Light Weapons (NCCSALW), Northeast Zonal Centre, under the Office of the National Security Adviser to the President has partnered with the Nigerian Army to fight the menace of the proliferation of illicit small arms and light weapons in the country.
Speaking during a courtesy visit to Brig.-Gen. U.V Unachukwu, the General Officer Commanding (GOC) 7 Division, Nigerian Army Headquarters in Maiduguri on Wednesday, Maj-:Gen Abubakar Adamu (Rtd), the Northeast Zonal Coordinator, NCCSALW Northeast Zonal Centre, said the collaboration was necessary in mopping up Small Arms and Light Weapons (SALW) in the Zone.
While stating the negative impact the proliferation of illicit SALW has on peaceful coexistence in the nation and its socio-economic activities, Adamu pledged the Centre’s continuous cooperation with the Division especially in intelligence sharing which he said, was paramount in preventing the proliferation of this SALW in the country.
READ ALSO: FG Predicts Heavy Rainfall, Flood In Seven States
“One of our responsibilities is to prevent the proliferation of small Arms and Light Weapons and to also enlighten the people. We are a multi agency department and we have the police, the DSS, and also retired military officers as well as serving military officers.
“We have been empowered to receive all illicit small arms and light weapons that have been retrieved from all the agencies and we are the people responsible to destroy them
“We are also the only organization empowered to prosecute gun runners and all the people that have been arrested in terms of dealing with small arms and light weapons.
“What we are doing is to visit major stakeholders and to also share intelligence, information and to collaborate because we know without the armed forces, there is no way we can eradicate the proliferation of small Arms and Light Weapons,” he said.
READ ALSO: FG Predicts Heavy Rainfall, Flood In Seven States
He further commended the Nigerian Army for always being at the forefront in ensuring that country is safe for all to live in, promising to strengthen the partnership in order to further make the country a better place for all to live.
Responding, Brig.-Gen. U.V Unachukwu promised the Division’s support to the Zonal Centre so as to achieve its mandate while recalling the pass records of the Zonal Director as a result-oriented senior officer.
He also commended the Centre for working hand in hand with all the security agencies, traditional rulers and key stakeholders, adding that this would go a long way in mopping up and tackling the proliferation of illicit Small Arms and Light Weapons in the country.

The management of Ambrose Alli University Ekpoma has responded to a recent publication by the Academic Staff Union of Universities (ASUU), AAU Chapter, alleging that the Acting Vice-Chancellor, Professor Sunday Olowo Samuel, claimed to have cleared all staff arrears.
A statement issued by Otunba Mike Aladenika, Principal Assistant Registrar and Head of Information, Protocol, and Public Relations, described the claim by ASUU as far from the truth.
Aladenika said the Acting Vice-Chancellor’s 31-paragraph address to journalists did not state that all outstanding salary arrears had been paid.
He noted that instead, the VC emphasized the administration’s commitment to gradual liquidation of these arrears.
READ ALSO: AAU Acting VC Meets With Journalists, Rolls Out Achievements
According to the imagemaker of the university, the Vice-Chancellor, in his speech, rather highlighted prompt payment of salaries and pensions as a hallmark of his administration, and noted that the university had implemented the new minimum wage of N70,000 as soon as it was approved.
Aladenika questioned where ASUU got their information from, given the Acting Vice-Chancellor’s clear statements.
“It’s worth noting that when the current administration took over, ASUU members were owed over 35 months in arrears.
“However, the debt has since been reduced as those owed 35 months and above were paid 10 months emblock in the 1st tranch, while in the 2nd tranch, those owe 20-months and above were also paid 10 months salary arrears, emblock. Apart from individuals among them who got paid on personal requests, the payment of the backlogs is still ongoing as various applications on salary arrears are been attended to, demonstrating the management’s commitment to gradual payment.
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“On the issue of the 13th month salary, it’s essential to clarify that this has never been a right, but rather a subject of tripartite negotiations between workers, management, and the state government. There has been no prior agreement or understanding on this matter, and it has always been a point of negotiation for our unions.
“It’s worth noting that the university has never paid 13 months’ salary in a 12-month financial year. However, this doesn’t mean that the management is opposed to negotiations on the matter. Rather, we believe that it’s essential to approach such discussions in a constructive manner, rather than using it as a bargaining chip for blackmail.
“The management is open to negotiations, but we urge all parties to engage in good faith and avoid misrepresentations.”
News
US Court Sentences Osun Monarch To Prison Over $4.2m Fraud
Published
6 hours agoon
August 27, 2025By
Editor
A United States District Court has sentenced the Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, to four years and eight months imprisonment over a $4.2million COVID-19 relief fraud scandal.
Justice Christopher Boyko while delivering the sentence on Tuesday, also ordered the monarch to pay $4.2 million in restitution.
According Osun Defender, the monarch was also ordered to pay the sum of $195,000 to the IRS for filing a false tax return.
Justice Boyko also ordered Oloyede to forfeit $96,000 in money seized from his bank account and his home on Foote Road that he bought in 2021 for $130,000.
READ ALSO: US court Jails Five Nigerians 159 Years For $17m Fraud
Boyko said Oloyede was a “very smart guy who did a lot of stupid things.”
Oba Oloyede, a US-based accountant and information system expert, was appointed the new Apetu in July 2019.
The monarch was arrested alongside alongside Nigerian pastor, Edward Oluwasanmi in early 2024 for their roles in a scheme to fraudulently obtain $4.2m in COVID-19 relief funds.
The two men were charged with 13 counts of conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and engaging in monetary transactions in criminally derived property.
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