Why your bank might not pay dividends for years, by Dele Sobowale
Perhaps there is some truth in the statement that “when an old man dies, you lose a library”. At 82+ and 39 years writing on this page, I have been a media witness to four major banking upheavals – each occurring shortly after recapitalization was imposed by the Central Bank of Nigeria, CBN. Almost invariably, each […]
In support of Senate probe of Obasanjo, Yar’adua and Jonathan — 1
The Senate by announcing its plan to probe the Federal Governments since 1999 till 2015 has not only demonstrated its independence from the Executive branch, as should be the case, under the principle of separation of powers, it is embarking on a patriotic mission. The reason is simple.
Killing discos? Time for rethink
The story went on to state the reason for the take over. According to the report by Everest Amaefule, “Following the declaration of force majeure by Integrated Energy Distribution and Marketing Company, the core investor in the Yola Electricity Distribution Company, the Federal Government has taken over the beleaguered power firm.”
Nigeria in deep economic trouble: “FG, states, LGs share N518.5bn for June”
For further reference the states’ allocations in July 2006, were as follows: Abia, N3.96bn; Adamawa, N3.53bn; A/Ibom, N14.44; Anambra, N3.61bn; Bauchi, N4.10; Bayelsa, 13.16bn; Benue, N3.8bn; Borno, N4.1bn; C/River, N3.98; Delta, N15.8bn; Ebonyi, N3.0bn; Edo, N4.2bn; Ekiti, N3.08bm; Enugu, N3.3.29; Gombe, N3.15bn; Imo, N4.37bn; Jigawa, N3.92bn; Kaduna, N4.29bn; Kano, N5.55bn; Katsina, N4.30bn; Kebbi, N3.3.59bn; Kogi, N3.5bn; N3.12bn; N5.49bn; Nass, N2.99bn; Niger, N3.90bn; Ogun, N3.45bn; Ondo N6.95bn; Osun, N3.33bn; Oyo, N4.19bn; Plateau, N3.0bn; Rivers, N23.25bn; Sokoto, N3.72bn; Taraba, N3.4bn; Yobe, N3.39bn; Zamfara, N3.53bn.
Power consumer advocacy: Matters arising
The story by Okechukwu Nnodim, writing from Abuja went on to say that “The Nigerian Electricity Consumer Advocacy Network, which was inaugurated by the Nigerian Electricity Regulatory Commission about two months ago has collapsed.” Reading the report, it is obvious that the NERC and the members of the Nigerian Electricity Consumer Advocacy Network, NECAN, cannot agree about who is to fund the programme. There is fault on both sides as will be demonstrated presently. But first a few questions need to be answered.
The welcome change at NERC
It does not require the intelligence of a space rocket scientist to understand that the DISCOs were sold to friends of the former administration, despite the efforts to make the biddings appear transparent. Amadi could not therefore be expected to regulate tariffs in a manner that would jeopardize the investments of the friends of the government and his benefactor.
