Business
No Bill, No Electricity Payment, Consumers Threaten DISCO
Some electricity consumers in Adeleye Aparadija Community in Ado-Odo/Ota Local Government Area of Ogun State have threatened to stop payment of the monthly electricity charges unless they were given bills.
They told our correspondent in Lagos that about 96 houses in the community were paying monthly charges into an account allegedly created by Ibadan Electricity Distribution Company (IBEDC).
A landlord at Ola-Oluwa Street, Alhaji Shehu Tijani, said that few consumers in the community were receiving monthly bills, while many others were paying directly into this account without bills.
Tijani said that all efforts made by the Community Development Association to ensure that all houses were given bills by IBEDC proved abortive.
He said consumers had resolved that they would no longer pay charges unless they receive their monthly electricity bills like others.
“Enough is enough; we cannot continue to pay our money into any account any longer.
“IBEDC should treat us like other consumers; we want our data to appear in the system like others.
“How do we know whether the money we pay enter genuine account or not.
“We want them to give us our monthly bills even, if prepaid meters are not available,” he said.
Also, Mr Alidu Ahmeed, a resident at Mubau Street, said that consumers in the community had been paying into this account for over two years without receipts.
Ahmeed said, “We are only being careful; because, if another management comes tomorrow and ask us for evidence of payment, what do we say.
“We cannot justify all the money they have been collecting from us all these years, because there are no receipts to back up the payment.
“We believe that only residents, who are collecting monthly electricity bills, are the ones they are charging for energy consumption, while our money goes to an unknown account,” he said.
In his comments, Mr Julius Adewole, a landlord in Ifelodun Street, urged IBEDC to enumerate consumers in the community, saying that only the
billing method would put their minds to rest.
“You can imagine two people paying money, when one received receipt, other will go empty handed, it is injustice.
“We do not want a situation in which at the end of the year they will bring bills that will cover all the energy that we have consumed,” Adewole said.
Reacting, Mrs Angela Olanrewaju, the Head, Corporate Communications of IBEDC, said that the account was created for consumers in the unit to remit their monthly charges.
Olanrewaju said there was no fraud about it, adding that consumers in the area were paying the money into the IBEDC substation account in the area.
She said that their monthly electricity bills would be ready by the end of November.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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