Business

Dormant Accounts Holders to forefit Money to CBN

Published

2 years ago

August 21, 2024

OCHEFA

CBN Governor, Olayemi Cardoso

500 Views

The Central Bank of Nigeria (CBN) has directed all dormant account balances to be transferred to a CBN account.

Following this directive, commercial banks have been reaching out to their customers whose accounts have been inactive to come for quick reactivation as soon as possible to avoid the account balance being transferred to the apex bank.

One of such letters seen by Ohibaba.com reads: “

According to our records, your corporate account xxxxxxx has been classified as dormant due to inactivity.
How to reactivate your account?
Simply visit any of our branches or contact our Customer Fulfilment Team (CFC). You will need to provide the following documents:
• Formal Request: A written request on your company letter head requesting account reactivation signed by an authorized signatory

• Proof of Address: Utility bill for your business address (within the last 3 months)

• Valid Identification: BVN and Valid ID card of all authorized signatories

• Company documents: Registration documents

Once these documents are submitted and verified, your account will be reactivated.”

Business

TCN improves Power Supply to Apapa corridors by additional 208MW

The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.

Published

3 hours ago

August 18, 2026

OCHEFA

9 Views

The Managing Director/Chief Executive Officer of the Transmission Company of Nigeria (TCN), Mr. Sule Ahmed Abdulaziz , says from now Apapa Causeway, Ijora, Amukoko, Ajegunle, Apapa Wharf, Tin Can Island and other major commercial areas, will be having improved power supply.

Abdulaziz made the declaration on Monday during the commission of Ijora and Apapa Road transmission substations in Lagos by additional 208MW .

The project is aimed at improving the volume and reliability of electricity available to distribution companies for onward supply to homes, businesses and industries.

Abdulaziz said that the projects, sponsored by the Japan International Cooperation Agency (JICA) and the World Bank respectively, in partnership with TCN, underscored the Federal Government’s commitment to modernising the transmission network and improving grid stability.

He commended the Ministry of Power, JICA, the Government of Japan, Lagos State Government and other stakeholders for supporting the projects, while appealing for additional grant assistance to upgrade other critical sections of the transmission network.

Speaking at the commissioning, Minister of Power, Mr. Joseph Tegbe, said that the projects were part of the Federal Government’s efforts to address longstanding transmission constraints and infrastructure decay that have limited the country’s ability to fully utilise available generation.

The upgrades increased the Ijora substation’s capacity by 112MW, from 90MVA to 230MVA, following the installation of two new 100MVA transformers.

At Apapa Road, a new Gas Insulated Substation (GIS) added another 96MW, raising the facility’s capacity from 60MVA to 180MVA.

The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.

Business

CBN’s Sidi-Ali wins 2026 overall Spokesperson of the Year Award, courtesy of NSA

Published

5 hours ago

August 18, 2026

OCHEFA

19 Views

•Mrs Hakama Sidi Ali.

The Ag. Director of Corporate Communications of the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi-Ali, has won the 2026 edition of the National Spokespersons Award (NSA).

The recognition was announced during the 6th National Spokespersons Awards and the 4th Economic Confidential Annual Lecture, organised by Image Merchants Promotion Limited (IMPR), publishers of PRNigeria, Economic Confidential and Spokespersons Digest, held in Abuja, recently.

The organisers stated: “With the latest honour, Sidi-Ali completed an unprecedented hat-trick at the National Spokespersons Awards, becoming the first communications professional to progress from winning a sector-specific award twice consecutively to claiming the overall Spokesperson of the Year title.