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Electricity Consumers Knock PHED Over Poor Services

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Electricity consumers in
Akwa Ibom State have accused the Port Harcourt Electricity Distribution Company (PHED) of fraudulently extorting unsuspecting consumers without corresponding power supply.
The consumers said the power company has completely neglected their responsibilities to members of the public, and made circulation of outrageous bills the most regular and visible aspect of their services to the people.
Speaking with our correspondent in Uyo, the Akwa Ibom State capital, a resident of Anwa Nsa Street, Uyo, Mr. Idongesit Ekpenyong, expressed disappointment that such alleged fraudulent activities could be allowed to go unabated in the state.
Ekpenyong alleged that the entire PHED team in Akwa Ibom has displayed high sense of irresponsibility and fraud against members of the public by forcefully and constantly placing charges for services not rendered.
He said the policy of estimated billing system was the company’s calculated plan to maximise profit at the expense of the public, as any appropriate billing system would have revealed the true state of services rendered.
Citing his street’s experience, for instance, the consumer expressed disappointment that after one year of total blackout due to faulty transformer, PHED, after installation of a new transformer, facilitated by one of the residents, sent in bills covering the one year period of the total blackout.
His words: “Imagine a situation where you had no light in your area, not even a flash for one full year, and for this reason, there was absolutely no point bringing in any bill, but after one year, one of the residents of the area facilitated installation of a new transformer, and two weeks after the new transformer was installed, they brought in bills covering the entire period of total blackout.
“So ridiculous it was that some flats were receiving bills of N150,000, and single rooms N50,000 to N70,000.
“As though such daylight robbery was not enough, PHED team came after a month to disconnect cables from virtually every building because no one agreed to succumb to that high level of fraud.
“Some of us had to go to their office to complain about the one full year of blackout, and the illegality of the bills, and they advised us to apply, which we did. Till this moment, our bills are still coming with the backlog of charges for power not supplied,” he added.
Ekpenyong, therefore, called on the Akwa Ibom State Government to call PHED to order, and desist from extorting members of the public for services not rendered.
Another consumer and resident of Akpan Ukpo, of Esuene Street, Mr Isaiah Udofia, criticised PHED for defiling every sense of responsibility and duty owed members of the public with its intolerable activities.
According to Udofia, the company has adopted a strategy of supplying electricity to most streets in Uyo just within 48 hours to enable its team conclude the distribution of bills.
He said: “If you are resident in Uyo, observe these people closely, you would notice that they usually bring light two days to the 15th day of every month, within which they usually circulate bills, and the moment they are done with that, the light cut off till same time next month.
“In addition to poor electricity power, the bills have also become so high that one is left to wonder if power bill is the only thing one should be paying with his monthly income. While some apartments are receiving bills of between N8,000 and N12,000 every month, single bedrooms are charged as high as N5,000 every month. I honestly do not understand what these people are up to Udofia said.”
This followed a notice of motion brought before the House by member representing Ibesikpo Asutan State Constituency, Mr. Aniekan Uko, during one of its plenary sessions.
The motion was titled: “The unwholesome and alleged fraudulent charges on electricity consumers in Akwa Ibom State by PHED”.
Uko frowned at a situation where electricity consumers, particularly in rural communities, were made to pay accumulated tariff even when they never consumed or had power supply within the period.
He prayed the House to urge the management of PHED to be responsible for the repairs, replacement and purchase of broken down electricity equipment as stipulated by Nigerian Electricity Regulatory Commission (NERC).
“A situation where electricity consumers, including unmetered houses and communities neither enjoy quality electricity supply nor see light for months due to prolonged breakdown of electricity equipment like the transformer but made to replace, repair or buy the transformer is far from being transparent”, he said
Lawmakers who spoke on the matter, including Leader of the House and member representing Oruk Anam State Constituency, Udo Kierian Akpan, and member representing Mbo, Samuel Ufuo, stressed the need for the House to interface with the management of the PHED and other institutions, especially affected by the situation.
This, they submitted would help them come up with a lasting solution to the lingering problem.
The Speaker, Hon Onofiok Luke, after listening to the submissions, urged the House Committee on Rural Development and Public Utilities as well as the Committee on Commerce, Industry and Tourism, to harmonize the two motions and submit report to the House within two weeks.
Efforts to reach the state Public Affairs Manager of PHED, Mr John Onyi, proved abortive as he neither picked his calls nor replied text messages sent to his phone.

 

Imah Utip

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NEM Insurance celebrates IWD 2026 with pledge to sustain support for women endeavour

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NEM Insurance Plc – the number one motor insurance provider in Nigeria, in a vibrant commemoration of the 2026 International Women’s Day (IWD), has reaffirmed its dedication to fostering an inclusive environment that empowers women to excel in their endeavours.
Speaking at the corporate headquarters in Lagos, the Chairman of NEM Insurance Plc, Tope Smart, stated that the company remains resolute in its mission to support women affairs, noting that their contributions are vital to the sustainability of the insurance industry.
Aligning with the global theme “Give To Gain,” Smart highlighted that the insurance provider views gender diversity not just as a corporate social responsibility, but as a core driver of innovation and high-level performance.
“Our commitment to female professionals at NEM Insurance is unwavering,” Smart declared. “We recognize that by ‘giving’ women the right tools, mentorship, and leadership platforms, the industry ‘gains’ unparalleled dedication and diverse perspectives that move the needle of progress.”
The multiple award winning underwriting company and one of the top three leading general insurance business companies in Nigeria, has remained focused in promoting and supporting women affairs.
Adding her voice to the celebration, the General Manager, Corporate Services, Mrs. Mojisola Teluwo, emphasized that the company’s gender-focused initiatives, such as the “She Means Business” contest, represent a practical approach to inspiring inclusion.
Mrs. Teluwo maintained that supporting women-led initiatives is a strategic investment in the fabric of society, rather than just a philanthropic gesture.
“At NEM Insurance, we believe that when a woman thrives, a family thrives, and the nation prospers,” Mrs. Teluwo stated. “The ‘She Means Business’ initiative is our way of moving beyond mere applause for women toward active, tangible support. We are proud to provide the financial catalyst needed for visionary women to turn their business aspirations into reality.”
To mark the occasion, the leadership outlined several key pillars of support:
Leadership Development: Targeted training programs to prepare more women for executive-level decision-making.
Inclusive Work Culture: Sustaining a workplace environment that balances professional growth with personal well-being.
Economic Catalyst: Providing grants and professional frameworks to help female entrepreneurs upscale their operations.
The event featured a series of internal sessions where female staff engaged in mentorship dialogues, focusing on career advancement within the evolving landscape of the Nigerian insurance sector and paint and Sip, which provided an opportunity for women to showcase their creativity.
Smart concluded by urging other industry stakeholders to prioritize the development of female talent, asserting that a more inclusive sector is a more prosperous one for all Nigerians.
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Nigeria: Profit-Taking Persists as NGX Dips Marginally by 0.2%

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Trading on the Nigerian Exchange (NGX) closed slightly lower on Wednesday as profit-taking in selected equities continued to weigh on the market, dragging key performance indicators into negative territory.
Market data showed that the benchmark All-Share Index (ASI) declined by 0.09 per cent to close at 195,898.53 points, compared with the previous session’s level, as investors booked profits in some large and mid-cap stocks.
Consequently, market capitalisation shed N107.57 billion, settling at N125.75 trillion. Despite the marginal decline, the market still maintained positive returns, with the month-to-date gain standing at 1.6 per cent, while the year-to-date return moderated to 25.89 per cent.
The downturn was largely driven by losses recorded in stocks such as Presco Plc and UAC of Nigeria Plc, both of which declined by 10 per cent, alongside Dangote Cement Plc, which slipped by 0.6 per cent.
Market breadth closed negative, reflecting bearish investor sentiment, as 40 stocks recorded losses compared with 29 gainers, translating to a market breadth ratio of 0.7 times.
Among the top gainers were NGX Group Plc and Premier Paints Plc, which appreciated by 10 per cent and 9.9 per cent respectively. Other notable gainers included Omatek Ventures Plc, Prestige Assurance Plc and HMC Allied Plc.
On the losers’ chart, Presco Plc and UAC of Nigeria Plc led the decline with 10 per cent losses each, followed by Morison Industries Plc, LivingTrust Mortgage Bank Plc and SCOA Nigeria Plc.
Sectoral performance was mixed, with the Industrial Goods index leading the gainers after advancing by 1.42 per cent, while the Banking index recorded a marginal gain of 0.04 per cent.
Conversely, the Commodities sector topped the laggards, declining by 1.30 per cent. The Insurance index fell by 0.44 per cent, the Consumer Goods index dipped by 0.43 per cent, while the Oil and Gas index edged down by 0.06 per cent.
Activity level on the exchange weakened as investors traded a total of 671.27 million shares valued at N26.13 billion in 58,792 deals.
This represents a decline of 8.61 per cent in volume, 5.18 per cent in value and 9.31 per cent in the number of transactions compared with the previous trading session.
Wema Bank Plc emerged as the most actively traded stock by volume and value, accounting for 106.36 million shares worth N2.75 billion.
Analysts said the cautious mood in the market reflects continued portfolio rebalancing by investors following the strong rally recorded earlier in the year.
They noted that trading may remain mixed in the near term as investors react to corporate earnings releases and macroeconomic development.
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Wema Bank Admits 10 Startups into Hackaholics 2026

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Wema Bank has admitted 10 Nigerian startups into the 2026 edition of its Hackaholics Accelerator Programme as part of efforts to strengthen innovation, entrepreneurship, and sustainable business growth in the country.
The 10 cohort selected startups for the 2026 edition such as; Farmslate, Ploy, Stocmed, Feest , Varsityscape, MamaAlert, Sane, Cyclex, Kieva and Loocomo were drawn from the top performing finalists of Hackaholics 6.0.
The Hackaholics Accelerator, a selective growth programme under the bank’s Hackaholics platform, is designed to help promising startups reinforce their business foundations while preparing them for scalable growth and investment readiness.
Wema Bank said the programme represents a strategic expansion of its support for innovators, moving beyond ideation and competition to hands-on startup development after six years of driving innovation through the Hackaholics initiative.
According to Wema bank, the accelerator provides founders with structured mentorship, industry guidance and access to networks required to transform innovative ideas into viable and scalable businesses.
Speaking at the programme, Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, said the accelerator demonstrates the bank’s commitment to supporting founders beyond the early stages of innovation.
He noted that Hackaholics has evolved from a competition into a platform that showcases Nigeria’s entrepreneurial potential and technological creativity. Where he explain that the second edition of the accelerator focuses on helping founders transition from ideation to building sustainable business capable of long trem projects .
“Over the past six years, Hackaholics has grown into more than a competition; it has become a platform that reveals the depth of innovation and entrepreneurial potential that exists across Nigeria,”Oseni said.
Oseni stressed that the startups selected are representing some of the most promising solutions emerging from the Hackaholics ecosystem, and the back remain committed to helping them refine their business models, strengthen their operational foundations, and scale their impact.
Also speaking at the program , Wema Bank’s Chief Transformation Officer,Mr. Babatunde Mumuni, said the accelerator would guide founders through a structured process aimed at strengthening their operations and positioning them for sustainable growth.
As part of the programme, startups founders will participate in intensive training sessions facilitated by industry experts across key areas of business growth. Facilitators include Wema Bank executives such as Chief Transformation Officer, Babatunde Mumuni; Head of Strategy and Investor Relations, Femi Akinfolarin; Head of Data Transformation, Olamide Jolaoso; and Team Lead, Corporate Social Investment, Oluwatoyin Adetunji. While External facilitators include Managing Director of Impact Hub Lagos, Idowu Akinde; Managing Director of B4B Partners, Napa Onwusa; startup advisor and scout, Onaopemipo Dara; Google for Startups mentor, Rosemond Phil-Othihiwa; Head of Growth at Africhange, Tega Ogigirigi; and startup advisor and mentor, Ademola Adewuyi.
The Hackaholics Accelerator is also supported by Wema Bank’s broader innovation ecosystem, including IDEAx Labs, the bank’s innovation and venture platform, and its corporate venture programme focused on enabling startup growth through partnerships, infrastructure and access to capital.
Since its launch in 2019, Hackaholics has grown into one of Nigeria’s leading youth innovation platforms, attracting more than 15,000 applicants and supporting hundreds of digital solutions across multiple sectors.
Through the initiative, Wema Bank said it has disbursed more than $400,000 in funding to young innovators and startup founders nationwide.
Previous participants such as Feegor, Myitura and Bunce have emerged from earlier editions of the programme, highlighting the accelerator’s focus on nurturing growth-ready companies. Meanwhile the 2026 edition builds on this progress by supporting startups as they transition from innovation to sustainable business growth.
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