News
DisCo Must Repay Customers for Transformer Purchases, FCCPC Rules
Federal Competition and Consumer Protection Commission has ordered the Ibadan Electricity Distribution Company to refund whatever consumers invest in buying transformers, poles, cables, and other items.
The Chief Executive Officer/Executive Vice-Chairman of FCCPC, Tunji Bello, gave this directive at the FCCPC Electricity Consumer Forum in Ota, Ogun State.
Bello, who was represented by an official of the commission, Mrs Bridget Etim, said it is not the duty of consumers to buy transformers, cables, or electric poles, saying such investments must be refunded by the Disco whenever they are made.
At the forum held in Ilogbo, Oju-Ore area of the Ado-Odo/Ota Local Government Area of Ogun, community leaders under various Community Development Committees and Associations, alleged that the IBEDC had failed to respond to their complaints despite a series of letters written to its officials.
The Ado-Odo/Ota Zonal CDC Chairman, Mr Olatunji Onaolapo, decried what he called the nonchalant attitude of IBEDC officials in the local government.
According to him, consumers now buy everything that should be provided by the Disco, yet many communities remain in darkness.
“In Itele Ota alone, our people have bought up to 80 transformers. IBEDC did not buy a single one. We will even pay for energisation, we will beg them to come and install a transformer that they are supposed to buy. It is uncalled for,” Onaolapo alleged.
Responding, the IBEDC boss in Ogun State, Abdulrasaq Jimoh, blamed the communities for buying the transformers without carrying the DisCo along.
Jimoh said the communities ought to inform the Nigerian Electricity Regulatory Commission of their intention to procure transformers and other items needed for electricity supply in their areas before going ahead to procure them.
However, the FCCPC official, Etim, interrupted the IBEDC’s Jimoh, saying, “I disagree.”
Etim told the Ibadan DisCo to learn from Jo’s Disco, which recently refunded its consumers even without NERC or FCCPC involvement.
“We are not going to accept that as a commission. For the ones that had happened before, we were not aware. We told the IBEDC before that for subsequent investments in network areas, returns must be given to the investors (the consumers). The previous ones were not properly documented with us, but subsequent ones must be refunded.
“I am correcting this because the Disco is saying you have to write NERC. If you tell the Disco that you want to invest, the Disco has the responsibility to escalate it to the regulator, that this is what the community is doing.
“In fact, let me tell IBEDC that Jos DisCo has had to compensate a community that invested in their network without informing NERC or FCCPC. I want IBEDC to change and learn,” Etim said.
Going forward, she urged Nigerians to always inform FCCPC of their plans to invest in the DisCos network going forward to ensure getting refunds through energy credit.
While presenting the EVC’s opening speech, the FCCPC boss stated that the three-day forum was convened under Sections 17, 127, 130, and 151 of the Federal Competition and Consumer Protection Act 2018.
She said the forum was designed to bridge the gaps between consumers and service providers in the electricity industry.
“Electricity is not merely a commodity. It is a vital service that powers livelihoods, businesses, and progress. However, the industry continues to grapple with persistent issues such as insufficient metering, billing inaccuracies, and infrastructure challenges, all of which require urgent and collaborative resolution.
“This event presents a non-adversarial forum for dialogue. Consumers will gain clarity on their rights and responsibilities, while Ibadan Electricity Distribution Company’s caseworkers will be available to address grievances on the spot. This aligns with our core mandate to ensure that consumer protection is practical, accessible, and responsive.
“At the heart of the FCCPC’s interventions is the recognition that electricity consumers are entitled to fairness, transparency, and accountability. We are guided by our commitment under the FCCPA to inform and educate consumers about their rights; facilitate complaint resolution and redress; encourage fair trade practices among service providers, and promote collaborative engagement that ultimately improves service delivery across the sector,” she said, quoting the executive vice chairman.
At the forum, officials of the IBEDC were on the ground to immediately attend to consumers’ complaints and get them resolved on the spot.
Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
PalmPay, Nigeria’s leading fintech company, has partnered with Globacom to launch the second edition of the “Recharge and Win Bonanza” campaign. The promotion, which runs from June 19th to August 8th, 2025, offers Nigerians the chance to win amazing prizes when they purchase Glo airtime and data via the PalmPay app.
According to a joint statement by PalmPay and Globacom, “A weekly live raffle draw will be held and streamed on PalmPay’s official social media channels throughout the campaign. Customers who make Glo transactions through the PalmPay app will be eligible to win prizes, including the iPhone 15 Pro, Infinix Hot 40, and other exciting items”.
To participate, interested customers can log onto http://bit.ly/PalmPaySms .
The statement added that all transaction above N500 gives participants an extra shot at winning, adding that daily social media challenges will also offer participants a chance to win cash prizes.
Additionally, PalmPay users can enjoy up to 6% cashback when they buy Glo airtime and data through the PalmPay app. As an added bonus, customers who have not subscribed to a Glo data plan in the last 90 days will receive a 100% bonus on their recharge during the campaign period.
Wayne Ruppel, Head of Billers at PalmPay Limited expressed excitement about the partnership, stating that, “This collaboration is a major step in our mission to deliver MORE – more support, more rewards, and more innovation to our customers.
Partnering with Glo, a leader in the telecommunications sector, is a testament to our shared commitment to improving everyday experiences for all Nigerians. We are excited to reward our users and encourage everyone to take full advantage of this exciting opportunity.
Globacom also expressed delight at creating additional value for its subscribers through unique customer-appreciation schemes.
“Our partnership with PalmPay on the “Recharge and Win Bonanza perfectly underscores our commitment to delivering exceptional value and experiences. Over the years, we have always sought innovative ways to enrich the lives of our customers. We, therefore, enjoin our subscribers to utilize the opportunity provided by the bonanza and enjoy the many benefits it offers”, the company stated.
PalmPay and Glo will collaborate throughout the campaign period to deliver exceptional customer experience, reward loyalty, and reinforce their shared mission to make digital transactions more accessible, rewarding, and secure for millions of Nigerians.
Lasaco Assurance Plc, has said it would continue to invest in technologies and systems that delivers tangible value to clients and drive industry innovation.
Mr Abiodun Razzaq, Managing Director of Lasaco Assurance, who stated this at the 2025 customer forum organised by the company for its northern region customers in Abuja, said the forum’s interactive session offered an invaluable platform for open and constructive dialogue.
He said the forum brought together a distinguished assembly of customers, including policyholders, brokers, corporate clients, and industry partners, to engage in a robust dialogue aimed at enhancing service delivery and aligning offerings with the evolving expectations of the Northern market.
In his opening remarks, Regional Manager (Northern Region), Lasaco Assurance, Mr. Kunle Hamza underscored the company’s unwavering dedication to stakeholder engagement as a foundational pillar of its growth strategy. He emphazised that customer insights remain integral to shaping policies, refining service processes, and reinforcing the company’s brand promise.
He provided a compelling overview of Lasaco assurance’s recent performance and strategic priorities. He highlighted the company’s consistent premium income growth, bold digital transformation agenda, and ongoing operational restructuring designed to ensure responsiveness and resilience in a dynamic insurance landscape.
Addressing the customers, Mr. Adedayo Adetokun, Head of Strategy, affirmed that Lasaco assurance was actively developing multiple digital platforms to cater forvarious customer segments—part of a broader digital innovation roadmap that positions the company for future growth. He noted that human capital development was also being prioritised with targeted investments in talent acquisition and training to enhance operational capacity.
In his closing remarks, Mr. Muyiwa Anwoju, General Manager, Sales, expressed the management’s deep appreciation for the feedback received.
He assured participants that all contributions would be meticulously reviewed, categorised, and integrated into the company’s improvement plans. According to Anwoju, this forum marks the beginning of a renewed customer engagement framework, one that would be expanded across other regions in due course.
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