By Lubem Myaornyi

Economic and Financial Crimes Commission (EFCC) has declared former Kogi State Governor Yahaya Bello wanted for N80.2 billion economic and financial crimes.Bello is alleged to have committed corrupt practices while in office as governor of Kogi State.There has been hide and seek game between EFCC and Bello since Wednesday when the former attempted to seize the latter in his Abuja residence.

EFCC, in a statement urged members of the public to provide any information regarding the former governor’s whereabouts. “Former Kogi State Governor, Yahaya Bello is wanted by the EFCC for offences relating to economic and financial crimes to the tune of N80.2 billion.“Anybody with information as to his whereabouts should report immediately to the commission or the nearest police station,” EFCC stated.Yesterday, EFCC threatened to involve the military in executing the order issued on Wednesday for the arrest of the former governor.

By Ubong Ukpong Abuja

Chairman of the Nigeria Electricity Regulatory Commission (NERC) Sanusi Garba yesterday told the House of Representatives that government would spend a whopping N3.2 trillion to subsidize electricity in 2024 if the recent increase in tariff is reversed.Garba was speaking at a stakeholders meeting convened by the House of Representatives Committee on Power, where he said that current investments in the sector are not enough to guarantee a steady power supply.

He said if nothing concrete is done to address issues in the sector including Foreign Exchange fluctuation and non-payment for gas, the sector will be heading for doom. He explained that before the recent review in tariff, DISCOS were only obligated to pay 10 percent of their energy invoice, adding that the lack of cash backing for subsidy is creating a liquidity challenge in the sector.The NERC boss said that as a result of the non-payment of subsidy, gas supply and power generation have continued to dip, adding that the continuous decline of generation and system collapse are largely linked to liquidity challenges.He explained that before the recent review in tariff, DISCOS were only obligated to pay 10 percent of their energy invoice, adding that the lack of cash backing for subsidy is creating a liquidity challenge in the sector.He achieving cost-effective tariffs is key to the sustainability of the sector.He explained that between January 2020 and January 2023, the tariff increased from 55 percent of the cost to 94 percent of cost recovery, adding that “the unification of FX and current inflationary pressures are pushing cost reflective tariff to N184/kWh.He said, “If sitting back and doing nothing is the way to go, it would mean that the National Assembly and the executive would have to provide about N3.2 trillion to pay for subsidy in 2024.”Garba said that only N185 billion of the N645 billion subsidy in 2023 had been cash-backed, leaving a funding gap of N459.5 billion.Vice chairman of NERC, Musiliu Oseni who also justified the recent increase in tariff said the increment was needed to save the sector from total shutdown.

From Marcel Duru & Charity Wins, Owerri
Imo State Governor, Sen Hope Uzodimma has approved the appointment of 12 Special Advisers (SAs) as efforts are in top gear to deepen the gains of the Shared Prosperity 3R Government of his second term.
The appointments, according to the governor in a statement by his  Chief Press Secretary and Media Adviser, Oguwike Nwachuku on Wednesday in Owerri, were with immediate effect.

The newly appointed SAs are: Barr. Leo Awazieama; Joseph Oputa; Mrs. Ijeoma Ikegwuruka; Comrade Austin Chilakpu; Dr. Patrick Uzoma; Dr. (Mrs) Obianuju Nwokejiobi; Chidi Onyewuchi; Andy Chikwe; AND Amarachi Anyaehie.
Others are: Tonia Chimenem Chinda; John Ikeaka; Mrs. Chinyere Emeziem; Mrs. Esther Ukachukwu; Ezechi Chukwueme; Humphrey Ikeaka and Barr. Mrs. Ngozi Pat Ekeji.
Governor Uzodimma congratulated the new appointees and urged them to brace up to contribute their quota in the overall interest of Imo State.