News
NERC Unbundles TCN, Establishes Nigerian Independent System Operator
The Nigerian Electricity Regulatory Commission (NERC) has unbundled the Transmission Company of Nigeria (TCN).
The commission made this known in a circular dated April 30, 2023, and jointly signed by its Chairman, Sanusi Garba, and Vice Chairman, Musiliu Oseni, respectively.
NERC said following the unbundling of the TCN, it has established the Nigerian Independent System Operator of Nigeria Limited (NISO). It noted that by this order, TCN is expected to transfer all market and system operation functions to the new company.
The commission had previously issued Transmission Service Provider (TSP) and System Operations (SO) licences to TCN, in accordance with the Electric Power Sector Reform Act.
However, the Electricity Act 2023, which came into effect on June 9, provided clearer guidelines for the incorporation and licensing of the independent system operator (ISO), as well as the transfer of assets and liabilities of TCN’s portion of the ISO.
Therefore, in the circular, the commission ordered the Bureau of Public Enterprises (BPE) to incorporate, unfailingly on May 31, a private company limited by shares under the Companies and Allied Matters Act (CAMA), 2020.
The company, NERC said, is expected “to carry out the market and system operation functions stipulated in the Electricity Act and the terms and conditions of the system operation licence issued to TCN.
It said: “The name of the company shall, subject to availability at Corporate Affairs Commission, be the Nigerian Independent System Operator of Nigeria Limited (NISO).
“Citing the object clause of the NISO’s memorandum of association (MOU) as provided in the Electricity Act, NERC said the company shall “hold and manage all assets and liabilities pertaining to market and system operation on behalf of market participants and consumer groups or such stakeholders as the Commission may specify.”
NERC said the new ISO will also be responsible for negotiating and entering into a contract for the procurement of ancillary services with independent power producers and successor generation licensees.
The Commission added that it will generally carry out market and system operations functions as specified under the Electricity Act and the terms of its licence in the interest of market participants and system users.
NERC said the company is expected to carry out all market and system operation-related contractual rights and obligations handed over by TCN.
News
Kano: APC Deputy Gov Candidate, Murtala Garo Welcomes Governor Yusuf To Party
The All Progressives Congress (APC) deputy governorship candidate in the 2023 election, Murtala Garo, has welcomed Kano State Governor Abba Kabir Yusuf to the party.
Garo described the governor’s defection as a positive development for political stability and sustainable growth in the state.
Garo, who is also a former Commissioner for Local Government and Chieftaincy Affairs, said in a statement on Tuesday that Yusuf’s decision demonstrated political maturity and foresight at a time when Kano and Nigeria require unity and inclusive governance.
“I formally welcome His Excellency, the Executive Governor of Kano State, Alhaji Abba Kabir Yusuf, into the All Progressives Congress. This is a significant and commendable step in our collective quest for political stability, inclusive governance and sustainable development in Kano State,” Garo said.
He praised Yusuf’s leadership, noting that his calm disposition and commitment to public welfare distinguish him as a leader willing to place peace and progress above partisan considerations.
“By this decisive action, His Excellency has shown the ability to rise above partisan divides in the interest of peace, progress and unity,” Garo added.
Garo said the governor’s move also reflected an understanding of the political and economic challenges facing Kano State and the country.
He expressed confidence that Yusuf’s entry into the APC would strengthen the party’s reform agenda and enhance cooperation between the state and federal governments.
He also reaffirmed his loyalty to the APC and pledged to work with the governor and other stakeholders to promote good governance, political harmony and policies that benefit the people of Kano.
News
Boardroom Guru, Otunba Adekunle Ojora, Dies At 93
Otunba Adekunle Ojora, a legendary figure in Nigeria’s corporate world and a prominent Lagos traditional leader, has passed away at the age of 93.
According to an official family statement signed by his daughter, Toyin Ojora-Saraki, he died peacefully at his home in Ikoyi, Lagos.
Widely celebrated as one of Nigeria’s most influential corporate leaders of the post-independence era, Otunba Adekunle Ojora carved an exceptional legacy that spanned journalism, public service, politics, and big-ticket corporate governance. He was Chairman of the Board of AGIP Nigeria Limited from 1971 until its acquisition by Unipetrol in 2002.
Ojora’s professional journey began in the early 1950s at the British Broadcasting Corporation (BBC) after studying journalism at Regent Street Polytechnic, London. Rising to the position of assistant editor, he later returned to Nigeria in 1955 to join the Nigerian Broadcasting Corporation (NBC) as a reporter. He later moved to Ibadan, where he served as an information officer in the office of the then regional premier.
In 1961, he transitioned into the corporate world, joining the United African Company (UAC) as Public Relations Manager and becoming an Executive Director in 1962. His interest in commerce and enterprise deepened in the years that followed, marking the start of a lifelong influence in Nigerian boardrooms.
Following the military coup that ended the First Republic, Otunba Ojora was nominated to the Lagos City Council in 1966. In 1967, he held two key appointments: Managing Director of WEMABOD, a regional property and investment company, and Chairman of the Nigerian National Shipping Line, succeeding Chief Kola Balogun.
After leaving WEMABOD, he expanded his footprint as a major investor and entrepreneur. He held significant interests in AGIP Petroleum Marketing, NCR Nigeria, and founded several private firms, including Nigerlink Industries, Unital Builders, and Lagos Investments, a holding company. In the wake of the Nigerian Enterprise Promotion Act, he acquired equity stakes in numerous foreign companies operating in Nigeria, including Bowring Group, Inchcape, Schlumberger, Phoenix Assurance, UTC Nigeria, Evans Brothers, and Seven-Up.
Beyond the boardroom, Otunba Ojora was deeply rooted in tradition. He was the Otunba of Lagos, Lisa of Ife and Olori Omo Oba of Lagos.
He is survived by his wife, Erelu Ojuolape, and children, including, Mrs. Toyin Saraki, wife of former Senate President Bukola Saraki.
News
Bello Turji’s Men Execute Rival Kingpin Abdu Lankai In Katsina
The group led by notorious bandit kingpin Bello Turji has executed a rival leader, Abdu Lankai, in the Jibia Local Government Area of Katsina State.
The incident was disclosed on Wednesday in a post on X by Bakatsine, a journalist who reports on conflict and insecurity in Nigeria’s northwest.
Bakatsine disclosed that Abdu Lankai was reportedly captured on Tuesday afternoon during a reconciliation meeting with rival commanders, Dogo Rabe and Black, both linked to Bello Turji.
He wrote: “Sources confirm the killing of Abdu Lankai, an armed group leader central to enforcing a local peace arrangement in Jibia LGA, Katsina State.
“He was reportedly captured yesterday afternoon during a reconciliation meeting with rival commanders Dogo Rabe and Black, both linked to Bello Turji, and later executed.
“With Lankai gone, can Jibia’s fragile calm hold or does this mark the collapse of the peace deal?”
-
Entertainment2 days agoCybercrime Battle: Nollywood’s Angela Okorie Remanded Following Mercy Johnson Petition
-
News2 days agoKano: APC Deputy Gov Candidate, Murtala Garo Welcomes Governor Yusuf To Party
-
Breaking News2 days agoEx-Senator Iyabo Obasanjo Joins All Progressives Congress
-
News2 days agoBoardroom Guru, Otunba Adekunle Ojora, Dies At 93
-
News2 days agoBello Turji’s Men Execute Rival Kingpin Abdu Lankai In Katsina
