Business
JUST IN: FCCPC Engages DisCos Over Unistar Prepaid Meters Phase-Out

The Federal Competition and Consumer Protection (FCCPC) is actively engaging key stakeholders, including the Nigerian Electricity Regulatory Commission (NERC), Nigerian Electricity Management Services Agency (NEMSA), and the eleven (11) DisCos regarding the phase-out of Unistar prepaid meters.
In a statement on Tuesday, seen by Ohibaba.com, Ondaje Ijagwu Director, Special Duties (& Strategic Communication) FCCPC, said that pursuant to sections 17(j), (l) (s), 116 (2), 124, 125, 138 and 155 of Act (FCCPA) 2018, the Commission is addressing the ongoing concerns surrounding the phase-out of Unistar prepaid meters by Ikeja Electric Plc and other electricity distribution companies (DisCos), following widespread consumer complaints.
The statement reads: “Recent announcements by Ikeja Electric indicated that the Unistar prepaid meters, first deployed over a decade ago, will no longer be supported from November 14, 2024, due to technological upgrades and the Token Identifier (TID) rollover issue.
The FCCPC has observed rising anxiety among consumers over potential financial burdens, particularly whether they will be required to cover the cost of replacement meters.
Further concerns relate to the possibility of consumers being placed on arbitrary estimated billing during this transition, which would violate existing rules.
These concerns have been worsened by insufficient communication from the DisCos about the phase-out process, leading to uncertainty and distrust.
In line with its mandate to protect consumers and promote fairness in the Nigerian marketplace.
“The goal is to make the metering process transparent and accountable while protecting consumer interests.
The FCCPC is initiating discussions with Ikeja Electric and other stakeholders to clarify the phase-out process and ensure that DisCos bear the cost of replacing phased-out meters, without imposing extra charges on consumers.
The Commission will also work to ensure that DisCos comply with regulatory guidelines, preventing consumers from being unfairly charged or placed on estimated billing. Additionally, the FCCPC will ramp up consumer education on their rights, especially regarding metering and electricity billing, to prevent exploitation.
The FCCPC is committed to preventing any disadvantage to consumers during this meter upgrade.
This intervention is in line with President Bola Tinubu’s “Renewed Hope” agenda, aimed at ensuring fair treatment for Nigerian consumers and access to essential services like electricity.
The Commission will continue to advocate for Nigerian consumers and ensure that service providers, including DisCos, act in a consumer-friendly, fair, and transparent manner.”
Business
Tax Reform: I rented secret apartment after death threats –Oyedele
These are not small boys and girls,” he said. “They are big people with deep connections and resources. So naturally, they would resist any effort to block those illegal streams.

Oyedele said that the threats began shortly after he announced a clampdown on more than 60 government agencies illegally collecting taxes and levies across the country.
Chairman of Nigeria’s Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele, has revealed that he was forced to flee his home and now lives in a secret location under armed police protection after receiving death threats linked to his tax reform efforts.
The Guardian reports that during a live radio interview on Nigeria Info FM, Oyedele said that the threats began shortly after he announced a clampdown on more than 60 government agencies illegally collecting taxes and levies across the country.
“I had to pack out of my house,” he said. “I rented a place in a secret location where I now live. I’m not the kind of person who wants anybody carrying a gun to follow me around, but I had to accept mobile police protection.”
”Oyedele, a former Africa Tax Lead at PwC, has led the drive to simplify and clean up Nigeria’s tax system.
He described the backlash as unexpected but driven by powerful individuals who had turned tax collection into a personal revenue stream.
“These are not small boys and girls,” he said. “They are big people with deep connections and resources. So naturally, they would resist any effort to block those illegal streams.”
Business
Dangote Refinery Planning 1.6m Barrels Fuel Storage Tanks in Namibia
The storage tanks would be used to supply petrol and diesel to Botswana, Namibia, Zambia and Zimbabwe.

Dangote petroleum refinery will construct storage tanks in Namibia to hold at least 1.6 million barrels of petrol and diesel to supply refined fuel to southern Africa.
Reuters reports that the storage tanks would be used to supply petrol and diesel to Botswana, Namibia, Zambia and Zimbabwe.
Dangote was also considering supplying fuel to southern Democratic Republic of Congo, the sources said.
It was not immediately clear how much the project would cost, but the second source said construction of the storage tanks would begin shortly in the port city of Walvis Bay.
The move underscores the refinery’s ambition to dominate fuel supply in Africa and beyond, potentially reshaping energy trade flows in the region and boosting access to refined products for southern African nations.
Business
UBA Announces Strategic Expansion into Key Markets Across Africa

UBA Group senior executives have concluded the Group’s Half Year Business Review, which was held at the global headquarters in Lagos Nigeria.
UBA Group Managing Director/CEO, Oliver Alawuba, brought together executives responsible for UBA’s twenty-four countries of operation.
He said “the gathering was an opportunity to restate the Group’s pan-African strategy, and commitment to further expanding the Group’s coverage across high potential markets across Africa, while also deepening its operations in its existing twenty African presence markets.
“With over 51.7% of Group revenues from ex Nigerian operations, UBA’s journey to being Africa’s most diversified financial services group was clearly in evidence.”
The international strategic intent reinforces with the Group’s intention to deliver innovative financial solutions to its fast-growing global customer base.
The strategy demonstrates UBA’s unique position as Africa’s global bank and ability to leverage growth opportunities in emerging and leading African markets.
The Group commenced its Pan African journey, with its entry into Ghana in 2004, followed by rapid expansion into 18 additional African markets.
Today, as a resilient and future-focused institution, UBA continues to push boundaries by connecting Africa to the world and the world to Africa.
Mr Alawuba highlighted the Group’s expansion plans, disclosing that the Group is excited about the vast opportunities that the new markets present, a testament to UBA Group’s confidence in the African economy, providing world-class banking services that meet the continent’s evolving needs.
He noted that: “UBA’s vision is clear – we are building a truly global institution anchored in Africa, but serving customers across continents”.
“Further strategic expansion positions us to unlock new opportunities, support intra-Africa trade, and deliver world-class banking experiences wherever our clients choose to do business,” Alawuba said.
“In Europe, UBA has operations in the United Kingdom and upgrading its license in France, expanding its capacity to serve cross-border trade, investment flows, and the African diaspora, complementing our over 40-year presence in NY.”
These moves signal a clear message of UBA’s intent to reshape the competitive landscape”, Alawuba further said.
As part of the Group’s plan to expand its global presence, UBA, in January, announced plans to open operations in Saudi Arabia.
Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 45 million customers globally.
-
Sports3 days ago
Flying Eagles set for WAFU B U20 challenge in Accra
-
Business3 days ago
Power Minister Adelabu hints of fresh electricity tariff hike to defray N5trn debt
-
Entertainment3 days ago
A Guy Entertainment Sets to Rebrand 2Baba Locally and Internationally
-
Sports3 days ago
Roll Calls of 20 Flying Eagles in Ghana for WAFU B U20 Tournament
-
News2 days ago
BREAKING: Supreme Court Confirms Okphebholo as Edo State Governor
-
Entertainment2 days ago
Fire destroys Actress Iyabo Ojo’s Lagos office
-
Entertainment2 days ago
“I Was Blacklisted by Marketers”: Moji Afolayan Speaks on Sudden Screen Disappearance (VIDEO)
-
News3 days ago
BREAKING: UAE imposes fresh visa conditions on Nigerians, bans transit visa