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ALPHA 10 Opens Port Harcourt Office …Pledges Long-Term Commitment To Niger Delta

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Alpha 10 Group has officially opened its Port Harcourt branch, describing the launch as a long-term commitment to the economic future of Port Harcourt and the wider Niger Delta.

The launch was attended by representatives of regulatory and government institutions, members of the Board, valued clients and partners, members of the media, and management and staff of Alpha 10.

Speaking during his welcome address, the Chairman of Alpha 10 Group, Mr. Chibuzor Ekwekwuo, said the new office is not simply another branch in another Nigerian city, but a statement of intent and a long-term commitment to a region whose economic future the Group believes in.

He said Port Harcourt and the wider Niger Delta represent far more than a geographical market which Alpha 10 intends to be part of it.

“Our conviction is simple: opportunity should not be limited by geography,” he said.

He noted that Port Harcourt has for decades been the centre of Nigeria’s petroleum industry, hosting critical energy infrastructure and one of the largest concentrations of oil and gas companies in the country.

He added that the next chapter of its economic story will be broader, pointing to the recent Niger Delta Economic and Investment Summit held in Port Harcourt as evidence of the shift towards investment, innovation, industrial growth and regional integration.

According to him, Rivers State contributes approximately N21 trillion to Nigeria’s economy, about 10 percent of national GDP, with a population of approximately 7.5 million people, making it one of the most sophisticated commercial ecosystems in the country.

Mr. Ekwekwuo said the financial services industry is changing rapidly, and the Board’s commitment is to ensure that Alpha 10’s growth remains anchored on sound governance, professional expertise, innovation and a deep understanding of clients’ needs.

He assured clients, partners, regulators and other stakeholders in Port Harcourt and across the South-South that the Group would operate with the same standards of governance and integrity that guide it everywhere, and will contribute meaningfully to the economic and investment ecosystem of the region.

He commended the management team and everyone who worked to make the milestone possible, noting that establishing a new branch requires commitment, planning and confidence in the future.

He also charged the management and staff of Alpha 10, especially the Port Harcourt team, to set a benchmark for the Group in service and client experience, and to become known not simply for its presence, but for the value it creates.

“We are confident about Port Harcourt. We are confident about the South-South. And we are confident about the future of Alpha 10,” he said.

He expressed confidence that the new office will become a platform for stronger relationships, greater investment and shared prosperity.

Also speaking, the Group Managing Director of Alpha 10, Mrs Abigail Utomi, said the vision of the Group is to build an integrated financial services group that delivers innovative value creation and wealth expansion, with an unwavering commitment to excellence.

She explained that the vision is daily being transformed into reality through specialized products and services delivered through three businesses within the Group.

“The first is the Capital Market business, which connects those who need capital to those who want to invest capital, whether through equity or debt.

“The second is Alpha 10 Global Markets Limited, incorporated in 2024, which provides services in the over-the-counter market. The third is Commercial Trust Limited, established in 1990 and acquired by Alpha 10 in 2024, to provide trust services and other related services.”

Mrs Utomi disclosed that in 2026, the Group launched three mutual funds, starting with the Alpha 10 Bond Fund.

She said the Group believes wealth creation extends beyond Naira investing, and for that reason launched the Dollar Fund to help investors protect their investments from currency risk and the constant devaluation of the Naira.

She said Alpha 10 is providing investment solutions that grow wealth for the retail investor, the high net-worth investor and the institutional investor, whether in money market or other instruments.

The Group Managing Director further disclosed that within nine months, from zero in January 2026, Alpha 10 has grown to N6.29 billion in regulated Net Asset Value of mutual funds in Nigeria, making it one of the fastest growing financial services groups participating in the Nigerian capital market today.

She attributed the growth to investments in people, processes, governance, institutional capacity, innovation, technology and solutions.

On expansion, Mrs. Utomi said the strategy is to bring locations closer to the people the Group serves, because investors, businesses and institutions need physical presence for assurance.

She noted that Port Harcourt is the Group’s fourth location, after Abuja, Lagos and Kano.

In his goodwill message, His Royal Majesty of Rebisi Kingdom, Eze Isaiah Elikwu, represented by Eze Arthur Kalagbor Onubam, Kingdom, welcomed Alpha 10 to Port Harcourt.

He said the Kingdom has received the assurance from the Chairman of Alpha 10 that this is not just another financial institution in Port Harcourt.

He said that the people of Port Harcourt had been sad because of what some investment companies did in the past.

“But I think there is something different about what we are doing here today,” he said.

He assured that as a Kingdom, the Rebisi people welcome Alpha 10, and that their job is to partner with the Group and give it their support in accordance with the law.

  Kiadum Edookor

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IGP Orders Arrest, Prosecution Of Campaign Billboard Vandals

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The Inspector-General of Police, Olatunji Disu, has directed Commissioners of Police in the 36 states and the Federal Capital Territory (FCT) to arrest and prosecute persons involved in the destruction, defacement and unlawful removal of political campaign posters, banners and billboards ahead of the 2027 general elections.

The Force Public Relations Officer, CSP Aniete Iniede, disclosed this in a statement issued  in Abuja, on Wednesday.

The statement noted that the Nigeria Police Force had observed with serious concern the increasing incidents of deliberate destruction of campaign materials belonging to political parties and candidates across the country.

The Police in the statement condemned acts of political intolerance and warned political thugs, hoodlums and other mischief-makers involved in the destruction of campaign materials to desist from such activities or face the consequences.

It further explained that the destruction, defacement or unlawful removal of another candidate’s campaign materials could constitute malicious damage, which is a criminal offence under applicable laws, including Section 451 of the Criminal Code Act and Section 326 of the Penal Code Law.

The Police in the same vein, stressed that political differences or loyalty to a particular party did not confer on anyone the right to destroy another candidate’s property or prevent others from exercising their constitutionally guaranteed right to campaign freely.

According to the statement, all political parties and candidates, irrespective of their affiliations or status, were entitled to equal protection under the law, adding that no individual or group had the authority to determine whose campaign materials should be displayed or destroyed.

“The IGP had directed Commissioners of Police in the states and the FCT to take proactive measures to prevent such incidents, investigate reported cases and ensure the arrest and prosecution of persons found culpable”, it said.

It also warned that political sponsors and individuals who recruit, encourage or facilitate the criminal acts would be held accountable whenever evidence established their involvement.

The police urged political parties, candidates and their supporters to conduct their campaigns peacefully and respect the rights of others, warning that political intolerance, intimidation and criminal conduct must not be allowed to undermine the nation’s democratic process.

The statement noted that the Force would not allow political thugs and troublemakers to turn the nation’s political environment into a theatre of lawlessness, insisting that anyone found violating the law would face its full consequences.

However, the Police Force called on Nigerians to respect the law and uphold the principles of peaceful political participation, particularly as political activities gather momentum ahead of the 2027 general elections.

The police reiterated that the right to campaign and promote political interests must be exercised within the confines of the law, while urging political stakeholders to discourage violence and other acts capable of threatening public peace.

The Force assured Nigerians of its commitment to maintaining law and order throughout the political season, stressing that the protection of all candidates and political parties remained a priority as the country prepares for the 2027 general elections.

King Onunwor

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FG Explains Supply Disruption As Power Generation Drops To 3,659MW

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Electricity generation on Nigeria’s national grid dropped to 3,659 megawatts (MW) as of 3pm yesterday from a peak of 3,996MW recorded on Wednesday, amid worsening power supply across parts of the country.

The Federal Government, however, attributed the decline to gas supply constraints to thermal power plants, reduced water inflows into hydroelectric reservoirs and operational challenges within the power sector.

Data obtained from the Nigerian Independent System Operator (NISO) showed that the decline had affected electricity allocation to Distribution Companies (DisCos), resulting in shorter hours of supply and increased load shedding across distribution networks.

Data on the distribution load allocation dashboard as of 5:39pm yesterday showed that the 11 electricity distribution companies received a combined allocation of 3,031MW.

Abuja Disco received the highest allocation of 669MW, followed by Ibadan Disco with 413MW and Port Harcourt Disco with 338MW. Benin Disco received 279MW, Enugu 267MW, Eko 256MW, Ikeja 249MW, Kano 173MW, Kaduna 167MW, Jos 146MW, while Yola Disco received the lowest allocation of 74MW.

The Federal Ministry of Power, in a statement, yesterday, by the Special Adviser (Media and Publicity) to the Minister of Power, Adeola Adelabu, acknowledged complaints by electricity consumers in Lagos, Abuja, Ogun, Kwara and Oyo states over worsening supply in recent days.

The Ministry noted that the affected areas had recently experienced noticeable improvements in electricity supply before the latest disruptions.

It, however, ruled out a major or systemic failure of the national grid, explaining that preliminary assessments linked the disruptions to maintenance and operational challenges in parts of the power value chain, alongside declining generation.

Acknowledging the impact of the disruptions on consumers, the Ministry said: “We recognise what every hour without power means for individuals, families and businesses, and we do not take it lightly.”

It added that the Minister of Power, Joseph Tegbe, was working with the Transmission Company of Nigeria (TCN), NISO and electricity distribution companies to address the challenges and restore normal supply.

According to the Ministry, the Minister had engaged relevant operators to resolve the operational constraints, accelerate ongoing maintenance and keep the public informed about restoration efforts.

In a separate statement, NISO confirmed that limited gas availability had constrained the ability of affected thermal generating stations to operate at their available capacities, while reduced water inflows had affected hydroelectric generation.

The system operator stated: “The limited availability of gas has constrained the capacity of affected thermal generating stations to operate at their available levels, while reduced water inflows into reservoirs have impacted the generation capacity of hydroelectric power stations.”

NISO explained that the reduction in available generation had affected the volume of electricity allocated to DisCos for distribution to consumers, resulting in increased load shedding.

It added that the extent of the impact varied across distribution networks, depending on available generation and the corresponding allocations to individual DisCos.

Acknowledging the impact of the generation shortfall on consumers nationwide, NISO said it remained committed to maintaining grid stability and optimising the dispatch of available generation.

It stated: “NISO remains committed to maintaining grid stability, optimizing the dispatch of available generation, and ensuring the secure, reliable and efficient operation of the national grid within prevailing operational constraints.”

The system operator also disclosed that it was working towards diversifying the country’s energy mix to strengthen security of electricity supply.

 

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TUC Rejects Fresh Wage Award, Demands Sustainable Salary Increase For Workers

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The Trade Union Congress of Nigeria (TUC) has rejected another wage award, demanding a sustainable salary increase to improve workers’ welfare and purchasing power.

This was contained in a communiqué signed by Mr Nuhu Toro, TUC Secretary-General at the end of its emergency National Administrative Council (NAC) and issued in Abuja, yesterday.

Toro said the Congress remained committed to protecting workers’ interests, collective bargaining and purposeful leadership.

He said the demand for a salary increase followed the Federal Government’s failure to fully implement the 2023 wage award agreement reached with organised labour.

According to him, the agreement reached on Oct. 2, 2023, provided for a wage award palliative to run until the new minimum wage became law on July 29, 2024.

“Under the agreement, workers received an average of only three months out of the 10 months agreed upon,” he said.

He maintained that another wage award would not provide the sustainable intervention required to improve workers’ purchasing power and living standards.

“The Congress is demanding a salary increase and not another wage award,” he said, reaffirming the position earlier communicated in its Oct. 21 press release.

Toro emphasised that the national minimum wage was a statutory floor and should not be regarded as a ceiling on workers’ earnings.

He also acknowledged the positions of the Congress’s public-sector affiliates, including SSAUTHRAI, NUAHP and SSASCGOC, describing them as consistent with TUC’s earlier position.

He said workers’ welfare could not be advanced by disregarding collective bargaining rights or undermining unions’ legitimate representation on conditions of service.

“The rights of affected unions to collective bargaining and legitimate representation in matters concerning their conditions of service must be respected,” he said.

Toro reaffirmed TUC’s status as a recognised trade union centre with the mandate to represent, defend and negotiate for its members, citing ILO Conventions 87 and 98.

He said the Congress would continue constructive and result-oriented engagement with government to implement resolutions reached at its Oct. 8, 2026 meeting in Abuja.

He called for the removal of barriers confronting federal and state government employees, stressing the need for practical solutions to their challenges.

On accountability, Toro reaffirmed the NAC’s commitment to the National Executive Council (NEC), the highest decision-making organ between delegates’ conferences.

He urged TUC leaders to focus on securing improved salaries through stakeholder engagement rather than public exchanges, adding that workers’ welfare remained non-negotiable.

“The Congress believes in purposeful, result-oriented leadership that delivers tangible benefits to workers rather than distractions, endless discussions or unsustainable interventions,” he said.

 

 

 

 

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