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NBET Signs Deal With Turkish Energy Firm To Ramp Up Electricity Supply

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The Nigerian Bulk Electricity Trading (NBET) Plc says it has signed a partnership deal with Energy Exchange Istanbul (EXIST), a Turkish energy firm, to ramp up energy generation and supply.

In a statement over the weekend, the trading company said the cooperation agreement was signed at EXIST’s campus in Maslak, Turkey.

It said the signing ceremony was witnessed by Zainab Ahmed, minister of finance, who doubles as chairman, board of directors, NBET; Nnaemeka Ewelukwa, chief executive officer (CEO), NBET, and Ahmet Türkoğlu, chief executive officer (CEO), EXIST.

The statement added that the partnership was designed to explore mutually beneficial opportunities for growth between both agencies.

“The cooperation agreement covers the transfer of experience and business knowledge, and the design of a functional trading structure for the Nigerian Electricity Supply Industry (NESI),” it said.

With the partnership, NBET said the NESI can leverage the EXIST experience towards the design and implementation of policy frameworks that will ramp up energy solutions to the manufacturing sector and other vital economic sectors towards increasing Nigeria’s GDP and improving the living conditions of its people.

“The agreement also aims to liberalize the current market in Nigeria; simultaneously, for the cooperation, the parties have agreed to establish a partnership to support the optimisation of NBET’s current energy portfolio and identify sustainable means to scale up energy generation and supply in Nigeria,” the statement added.

“Concerning areas of cooperation, the parties also agreed to ensure knowledge development and share cross-visits to learn from each other’s experiences. Both parties have committed to further research and development in relevant areas that are beneficial for enhancing the energy sector in Nigeria.”

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The statement further said EXIST would also assist “NBET in the design and implementation strategy and plan that would enable optimal bulk electricity trading that adopts a least cost trading model for energy efficiency”.

In fulfilling the conditions, NBET said it would also be assisted in understudying the Turkish experience and energy transition to adapt successfully to the Nigerian context.

According to the agreement, “the two parties will work towards establishing a renewable energy support scheme like the Turkish experience”.

They will work on “developing necessary feasibility studies to establish the energy exchange”.

Speaking at the event, Ahmed reiterated the country’s interest in furthering its partnership with the company.

“EXIST has reached an admirable stage. We also want to establish electricity markets by providing the necessary transformation in our country. We want to cooperate with you on this journey by walking hand in hand,” she said.

On his part, Ewelukwa expressed optimism that the cooperation agreement with EXIST would go a long way in re-positioning NBET for enhanced performance in the Nigerian electricity market and consolidating its accomplishments.

“The key aspects of the cooperation would see NBET strategically leveraging on cutting edge technology to chart a new course in its commercial transactions in the electricity market. It will ultimately pave the way for more power investments in the country and deepen competition in the market, with greater value delivery to participants in the market,” he said.

According to him, NBET would also synergise with EXIST in developing a framework for upscaling sustainable investments in renewable energy in line with the federal government’s commitment to diversify the country’s energy mix and transition to a low-carbon economy.

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Easter tragedy: 17 lives lost in Benue amidst security concerns

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Police Command in Benue has said suspected armed herders attacked and killed 17 persons and injured many in Logo and Ukum Local Government Areas of the state.

This was contained in press statement on Friday signed by the Police Public Relations Officer, SP Sewuese Anene and made available to newsmen in Makurdi.

Anene, in the statement, explained that five people were killed in Ukum and 12 in Logo LGAs adding that some were injured and were receiving treatment.

“On 17/4/2025 at about 2100hrs, information was received that a large number of suspected militia had invaded Sankera axis of Benue State with intention to attack communities around Gbagir, Ukum Local Government Area.

“Upon receipt of this report, the Commissioner of Police, Benue State Police command, CP. Steve Yabanet, ordered tactical teams to move to the area and join forces with police officers on ground and other security agencies to forestall the attack.

“Following this order, a team of officers moved to the area and engaged them. While the attackers were being repelled in the early hours of today, they shot sporadically at unsuspecting farmers as they came across them .

“Five persons were recovered at Gbagir area and taken to the hospital where they were confirmed dead.

“Unfortunately an unsuspected simultaneous attack was carried out in Logo where 12 persons were killed before the arrival of the police, making a total of 17 persons.

“However, Security agencies within Sankera axis are still engaging the bandits as they retreat back to the forest around Taraba axis,” she said.

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Anene warned social media users that were reporting unconfirmed reports and inciting the general public, to desist from such actions.

The police spokesperson said that such actions were capable of creating unnecesary tension in the state.

She said the Command under the leadership of the Mr Steve Yabanet, was commitment to fight the attackers and encourage the good people of Sankera to continue to cooperate with the Police as the operation was ongoing. (NAN)

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Paris Club refund: Consultant files contempt charge against CBN

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A consulting firm, Melrose General Services Limited, has filed a contempt charge against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and its Director of Legal Services, Salam-Alada Kofo, over dispute on the Paris Club refund.

The company instituted the suit marked: FHC/ABJ/CS/532/2025 before Justice Inyang Ekwo of the Federal High Court in Abuja.

Cardoso and Kofo are facing contempt proceedings for allegedly failing to comply with a Supreme Court judgment that reversed the forfeiture of N1.22 billion and N220 million in an appeal by Melrose General Services.

Justice Ekwo had fixed June 4 for the hearing of the matter.

The News Agency of Nigeria (NAN) reports that in June 2024, the Supreme Court overturned a previous forfeiture order against Melrose General Services Limited’s funds, which had been frozen following an investigation by the Economic and Financial Crimes Commission (EFCC).

The disputed sums included N1,222,384,857.84 in Melrose’s bank account and N220 million paid by the company to Wasp Networks and Thebe Wellness as loan and investment.

The apex court had ruled that the EFCC had not proven the funds were proceeds of fraud, as alleged.

The court set aside the lower courts’ forfeiture orders, directing the release of the funds to their rightful owners.

However, despite the Supreme Court’s decision, Melrose’s lawyers filed a lawsuit at the trial court, alleging that the CBN and its top officials had only partially complied with the judgment.

Melrose, in its application before Justice Ekwo, averred that while the N1.22 billion was refunded, the outstanding N220 million remains unpaid.

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The company, through its counsel Chikaosolu Ojukwu, SAN, filed the contempt suit against the CBN governor, Director of Legal Services, the EFCC and the Minister of Finance, arguing that their refusal to release the full amount constitutes contempt of court and undermines the Supreme Court’s authority.

Ojukwu informed the court that the EFCC, via the CBN, had only made a partial refund, and accused the CBN officials of neglecting their legal obligations regarding the remaining funds.

He cited the apex court judgement which ruled that, “The appellant’s application( Melrose General Services limited) to set aside the order of interim forfeiture of the sum of N1,222,384,857.84 in the appellant’s account with Access Bank Plc and N220,000,000.00 in the accounts of the 2nd and 3rd respondents(Wasp Networks and Thebe Wellness), is hereby granted.”

It would be recalled that Justice Ekwo had, on March 27, granted Melrose’s request to serve the contempt applications (Form 48 and Form 49) on the respondents, giving them seven days to reply.

At the April 10 hearing, Melrose’s counsel, Segun Fiki, confirmed that all parties, except the Ministry of Finance, had responded to the court documents.

The CBN’s legal team, represented by Abdulfatai Oyedele, filed a preliminary objection and counter-affidavit, arguing that the Supreme Court did not direct payment of N220 million to Melrose’s account, but to the accounts of Wasp Network Limited and Thebe Wellness Services, from which the money was originally forfeited.

The CBN submitted that Wasp Network’s solicitors had requested payment of N200 million, while Thebe Wellness had yet to claim their N20 million share.

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The CBN maintained it had acted in compliance with the judgment and that there was no unethical conduct.

The EFCC, represented by Martha Babatunde, filed a motion for misjoinder, asserting it should not be a party to the contempt case.

The judge has adjourned the matter until June 4 for hearing.

NAN recalls that the dispute stems from the controversial Paris Club refund, a settlement involving payments to consultants for services rendered to the Nigerian Governors’ Forum.(NAN)

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Easter: Ex-Senator La’ah Urges Nigerians Not To Lose Hope

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By Israel Bulus, Kaduna

A former Deputy Minority Whip of the Senate, Senator Danjuma Tella La’ah, has called on Nigerians to remain hopeful amid the country’s current economic and security challenges.

In his Easter message on Sunday, the lawmaker who represented Southern Kaduna Senatorial District in the 9th National Assembly, urged citizens to draw strength from the message of resurrection and renewed faith symbolised by Easter.

“As we celebrate the resurrection of our Lord Jesus Christ, I bring warm Easter greetings to all Christians, the good people of Southern Kaduna, and Nigerians across the nation,” he said.

La’ah expressed optimism in the efforts of President Bola Ahmed Tinubu to reposition the country, saying the current administration was working to resolve the nation’s difficulties.

“I urge fellow Nigerians not to lose hope. President Bola Ahmed Tinubu is doing everything possible to turn around the challenges that have hindered our nation’s progress,” he added.

The former lawmaker also prayed for divine guidance for the President, Kaduna State Governor Uba Sani, and other leaders at various levels.

According to him, the commitment to inclusive governance was yielding positive results in Southern Kaduna and across the nation.

“May this Easter inspire us to trust in God’s promises and believe in the transforming power of Christ’s resurrection—for our lives, our communities, and our nation,” he said.

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