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Update : Henry Ajagbawa, Akuma refuse court bailiff service, illegally break into BEDC premises …risk jail term for court contempt
Henry Ajagbawa and K.C. Akuma, in company of three other persons (Adeola Ijose, Charles Onwera and Yomi Adeyemi) PURPORTEDLY RECENTLY appointed to the
Board of BEDC Electricity Plc (BEDC), on Wednesday proceeded to illegally and forcefully break into the premises of the company in Benin, the Edo State capital, DESPITE THE SUBSISTING COURT ORDER GRANTED IN FAVOUR OF VIGEO POWER, AND RESTRAINING THE NAMED INDIVIDUALS AND ENTITIES FROM ANY UNLAWFUL OCCUPATION.
Henry Ajagbawa and others who had refused to ACCEPT SERVICE OF THE court ORDER served by ON THEM by court bailiffs on the premises of BEDC, in the presence of the press, also forcefully broke into the office of the Managing Director and the Board room of the company bragging of government protection.
Journalists who arrived at the scene were also refused entry into the 4th floor where all was happening, even after the journalists had identified themselves.
It would be recalled that the Nigerian Electricity Regulatory Commission (NERC) and the Bureau of Public Enterprises (BPE) had recently announced A PUTATIVE restructuring of the boards of five DisCos which the Discos were alleged to have been done without inviting any of them to a meeting prior to the announcement which was widely circulated in the media.
The duo had explained that the announcement followed Fidelity Bank’s activation of the call on the collateralised shares of Kano Electricity Distribution Company, Kaduna Electricity Distribution Company and
BEDC Electricity Plc (the DisCos) in a bid to take over the respective Boards of the DisCos over the alleged inability to repay loans obtained to acquire majority stakes in the DisCos in furtherance of the 2013
privatisation exercise.
Consequently, the management of BEDC had responded by issuing a press statement explaining that there was no contractual, statutory or regulatory basis for the takeover and appointments.
The company stated that, “For the avoidance of doubt, the shares of BEDC have not been given as security to Fidelity Bank or to any other party.”
According to the management of BEDC, it was “Vigeo Holdings Limited (VHL – a non-shareholder of BEDC)” that “obtained credit facilities from Stanbic IBTC Bank Limited, Fidelity Bank Plc, and Keystone Bank Plc (the
VHL Lenders).” It noted further that the said credit facilities (and any enforcement action in relation thereto) have in the meantime become subject of litigation in a Court action instituted by VHL and other plaintiffs (the
VHL Action) with Suit No: FHC/L/CS/239/22 – Vigeo Holdings Limited and 4 Ors v. Stanbic IBTC Bank Limited, and therefore, subjudiced.”
Worried by the development, Vigeo Power Limited, the majority shareholder of BEDC had filed a suit and obtained injunctive orders at the Federal High Court in Abuja to restrain Fidelity Bank Plc, HENRY AJAGBAWA,
and THE other co-defendants from taking over BEDC pending the hearing and determination of the motion on notice dated July 8, 2022.
The other defendants are Nigerian Electricity Regulatory Commission (NERC), Corporate Affairs Commission (CAC), K.C. Akuma, Adeola Ijose, Charles Onwera, Henry Ajagbawa and Yomi Adeyemi.
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Adedini Hails Famadewa’s Appointment, Describes It as Pride for Ife Kingdom
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Engr. Marcus Adedini, Aspirant for Ife Federal Constituency, heartily congratulate the distinguished Ife-born retired military officer, Major General Adeyinka FAMADEWA (Rtd), on his well-deserved appointment as Special Adviser on Homeland Security by President Bola Ahmed Tinubu.
This prestigious appointment is a clear recognition of your years of meritorious service, professionalism, discipline, and unwavering commitment to national development and security.
Your appointment has brought immense pride, honour, and joy to the people of Ife Kingdom, as it further reflects the excellence and capacity of our sons and daughters who continue to contribute meaningfully to nation-building. Your outstanding record of leadership and dedication to service remains a great source of inspiration to many across the country.
As you assume this important national assignment, I am confident that your wealth of experience and strategic leadership will contribute significantly to strengthening peace, stability, and homeland security in Nigeria.
I pray that God grants you wisdom, strength, and greater success in this new office. Congratulations once again, Sir.
Signed:
Engr. Marcus Adedini
Aspirant, Ife Federal Constituency
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Humanity, Leadership and Legacy: Ooni of Ife Celebrates Prince Eludoyin at 78
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The Permanent Chairman of the Southern Nigerian Traditional Rulers Council (SNTRC), Arole Oodua Olofin Adimula and the Natural Head of the Oduduwa race worldwide, the Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi, CFR, Ojaja II, has celebrated renowned businessman and illustrious son of Ile-Ife, Prince Eludipo Elusanmi Eludoyin, on the occasion of his 78th birthday.
In a statement on Monday released by the Director of Media and Public Affairs, Ooni’s Palace, Otunba Moses Olafare, the Ooni who is also the Permanent Co-chairman of the National Council of Traditional Rulers of Nigeria (NCTRN) described Prince Eludoyin as one of the shining lights of Ile-Ife whose life has remained dedicated to hard work, service to humanity and the growth of Nigeria’s economy.
The Ooni praised the Ife-born business mogul for his remarkable achievements in the international business community, noting that his contributions through Paragon Holdings Limited and other business platforms have created employment opportunities for thousands of people while also supporting meaningful development projects within and outside Nigeria.
Ooni Ogunwusi said Prince Eludoyin’s impact goes beyond business, describing him as a man who has consistently used his success to uplift people and support communities through various philanthropic activities.
According to the Ooni, the celebrant’s humility, wisdom and commitment to humanity have earned him respect across different sectors both in Nigeria and abroad.
The royal father also acknowledged Prince Eludoyin’s longstanding relationship with President Bola Ahmed Tinubu, describing the celebrant as a trusted confidant and loyal friend whose influence and experience continue to contribute positively to national development.
“Prince Eludoyin is a pride to Ile-Ife and the Yoruba race. His life story is one of vision, resilience and service. At 78, he remains a source of inspiration to younger generations who desire success built on integrity, excellence and compassion,” the Ooni stated.
The Ooni prayed for more years of sound health, peace, strength and continued accomplishments for the elder statesman as he continues to serve humanity and contribute to the progress of society.
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Between Hope and History: What Nigerians Expect from Tegbe as Power Minister
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By Michael Olukayode
For decades, electricity has remained Nigeria’s most enduring national embarrassment. From military administrations to democratic governments, promises of stable power supply have come and gone with little to show beyond recurring darkness, collapsing grids, abandoned projects and rising public frustration.
Now, with the appointment of Joseph Olasunkanmi Tegbe as Minister of Power, expectations are once again rising. Yet unlike in previous eras, Nigerians are no longer impressed by ambitious declarations. They are demanding results.
The question confronting Tegbe is not whether he understands the scale of the crisis. It is whether he can succeed where many before him failed.
Nigeria’s electricity sector is littered with the ruins of grand promises.
From the Olusegun Obasanjo administration’s multi-billion dollar National Integrated Power Projects (NIPP), to the Goodluck Jonathan-era privatisation of generation and distribution companies, successive governments repeatedly promised that stable electricity was around the corner. Under former President Muhammadu Buhari, Nigerians were told that the Siemens-backed Presidential Power Initiative would revolutionise transmission and distribution. The current administration of President Bola Ahmed Tinubu also pledged sweeping reforms, improved generation and a more efficient market-driven electricity sector.
Yet millions of Nigerians still rely on generators as their primary source of power.
The irony remains painful: Africa’s largest economy continues to generate barely between 4,000 and 5,000 megawatts for over 200 million people, despite an installed capacity exceeding 13,000MW.
Entire industries have collapsed under the burden of self-generated electricity. Small businesses spend more on diesel than on salaries. Manufacturers complain of rising operational costs. Students study under torchlights. Hospitals struggle to preserve vaccines and operate life-saving equipment. For many Nigerians, electricity is not merely an infrastructure issue; it is the dividing line between poverty and productivity.
That is why Tegbe’s appointment comes with enormous pressure.
Unlike many previous political appointees in the sector, Tegbe comes into office with the image of a technocrat rather than a career politician. A chartered accountant and management consultant, he built his reputation in the private sector through years of corporate advisory work, investment strategy and institutional restructuring. He previously served as the Director-General and Global Liaison for the Nigeria-China Strategic Partnership, where he was credited with helping to deepen investment engagement between Nigeria and Chinese investors in infrastructure, manufacturing and industrial development initiatives.
Before that appointment, Tegbe had a long corporate career spanning consulting, finance and business transformation. He worked with multinational consulting firm Deloitte and later became a senior business strategist with extensive experience in public-private partnerships, governance systems and economic planning. Supporters argue that this background gives him a better understanding of the financial and structural complexities that have crippled Nigeria’s power sector for years.
His defenders also point to his record in economic coordination and institutional reforms, arguing that the electricity crisis is no longer just a technical problem but a management and governance challenge requiring strategic execution, investor confidence and policy discipline.
At his Senate screening, Tegbe outlined a reform agenda focused on improving gas supply, strengthening grid reliability, accelerating metering, enforcing accountability among distribution companies and restoring financial discipline across the sector.
Those priorities are significant because Nigeria’s electricity crisis is no longer just about generation. The problems are systemic.
Generation companies complain of unpaid debts and inadequate gas supply. Distribution companies struggle with huge financial losses, weak infrastructure, electricity theft and poor revenue collection. Transmission infrastructure remains fragile and outdated, leading to frequent system collapses and stranded power capacity.
The national grid itself has become symbolic of institutional weakness. Grid collapses have repeatedly plunged large sections of the country into darkness, disrupting businesses and exposing the fragility of the system. Regulatory reports continue to show wide gaps between installed generation capacity and actual available electricity supply.
For many Nigerians, these recurring failures have destroyed public confidence.
Citizens openly question whether government officials genuinely intend to solve the crisis or merely manage it politically. Some blame corruption and weak regulation; others argue that decades of policy inconsistency and poor implementation are the real culprits.
That skepticism explains why Tegbe’s promises are being greeted with cautious optimism rather than celebration.
Still, his supporters believe he enters office with certain advantages. His experience in corporate restructuring and investment negotiations may prove useful in a sector desperate for efficiency, investor confidence and credible execution. But technical knowledge alone will not solve Nigeria’s electricity crisis.
What the sector requires most is political courage.
Any meaningful reform will involve difficult decisions: enforcing payment discipline, restructuring failing distribution companies, addressing subsidy distortions, improving tariff transparency, tackling electricity theft and compelling stronger private sector accountability. These reforms are politically sensitive because electricity affects every household and business in the country.
The minister must also confront the deeper institutional problem that has undermined previous reforms — weak governance.
Over the years, billions of dollars have reportedly been invested in power infrastructure with minimal impact on supply. Projects are often launched with fanfare only to disappear into bureaucratic delays, contractual disputes or funding crises. Nigerians have grown weary of ceremonial commissioning without measurable outcomes.
That is why measurable targets will matter more than speeches.
If Tegbe hopes to build public trust, Nigerians will expect clear timelines, transparent reporting and visible improvements in supply stability. Citizens want fewer excuses and more accountability. They want to know why power plants cannot get gas despite Nigeria’s enormous natural gas reserves. They want to know why transmission bottlenecks continue years after repeated intervention programmes. They want to know why estimated billing still persists despite promises of mass metering.
Most importantly, they want leadership that acknowledges that electricity is central to national development.
No serious industrial economy can thrive in darkness.
Countries that transformed their economies invested heavily in stable electricity infrastructure. Without reliable power, Nigeria’s ambitions for industrialisation, digital innovation, manufacturing growth and foreign investment will remain severely constrained.
The challenge before Tegbe therefore goes beyond fixing transformers or stabilising the grid. His real assignment is to restore credibility to a sector where public trust has nearly collapsed.
There are signs that structural reforms may finally be gaining momentum. The Electricity Act 2023 has opened the door for states to develop independent electricity markets, reducing overdependence on the fragile national grid. Several states are already moving toward decentralised power arrangements.
But Nigerians have heard reform language before.
What they seek now is evidence.
The success or failure of Tegbe’s tenure may ultimately depend on one simple question: can his administration deliver stable and predictable improvement, even if gradual?
If he succeeds, he could become the minister who finally begins the long-delayed transformation of Nigeria’s electricity sector.
If he fails, he risks joining a long list of officials whose promises disappeared into the darkness Nigerians know too well.
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