•Director-General of BPE, Ayodeji Gbeleyi

The Bureau of Public Enterprises (BPE) says it has concluded plans to list two electricity Distribution Companies (DisCos) and one Generation Company on the Nigerian Exchange (NGX) through an Initial Public Offering.

The Director-General of BPE, Ayodeji Gbeleyi, disclosed this in a statement, explained that the move is part of the federal government’s broader strategy to deepen private sector participation in the power sector and attract long-term investment that would boost efficiency and service delivery.

He said that the federal government has 40% shares in the DisCOs which were recently transferred to the Ministry of Finance Incorporated (MOFI).

The DisCos are Abuja, Benin, Eko, Enugu, Ibadan, Ikeja, Jos, Kaduna, Kano, Port Harcourt, and Yola electricity distribution companies.

They have been recently burdened by huge debts owed to the federal government.

Gbeleyi, however, declined to reveal the identities of the companies set to be listed, stressing that such information was bound by corporate confidentiality

The Nigerian Civil Aviation Authority (NCAA) has urged the Economic and Financial Crimes Commission (EFCC) to escalate its fight against fraud and economic crimes plaguing the aviation industry.

NCAA Director General, Captain Chris Najomo, made the appeal during a courtesy visit to EFCC Chairman, Mr. Ola Olukoyede, at the commission’s Abuja headquarters on Tuesday, according to a statement released on the EFCC’s official X handle.

Najomo highlighted how fraudulent activities are severely undermining safety oversight and operational transparency within the sector. He specifically pointed to high-value transactions like aircraft purchases, leasing arrangements, foreign maintenance contracts, and safety infrastructure procurement as areas particularly vulnerable to abuse.

“Non-remittance weakens the NCAA’s ability to fund safety oversight and operational efficiency, and may require EFCC’s intervention to investigate cases where deliberate withholding, diversion, or misappropriation of these funds is suspected,” Najomo stated.

He further alleged that some aviation operators deliberately under-report revenues, manipulate ticketing systems, or divert funds, actions that cripple the NCAA’s regulatory capacity.

Najomo also raised concerns about illegal charter operations disguised as private flights, which involve unregulated financial flows, emphasizing the critical need for the EFCC’s financial intelligence expertise to uncover such practices.

To address these challenges, Najomo proposed collaborative initiatives, including training NCAA personnel to identify financial red flags, organizing joint sensitization workshops, and establishing robust intelligence-sharing mechanisms to enhance regulatory oversight.

Responding, EFCC Chairman Ola Olukoyede welcomed the partnership and announced that senior EFCC officers would collaborate with the NCAA to finalize a Memorandum of Understanding (MoU).

The agreement will focus on joint investigations, intelligence exchange, and compliance monitoring. “With the kind of work you do, when people see us beside you, they will take you seriously. Aviation is an area where we have seen money laundering, particularly through chartered services.

That is why we have been reaching out to you, and we will continue until we achieve the desired results,” Olukoyede affirmed.

The Central Bank of Nigeria has approved the merger of Union Bank of Nigeria with Titan Trust Bank Limited,.

This is disclosed in a statement from the bank’s Chief Brand and Marketing Officer, Olufunmilayo Aluko.

Under the terms of the merger, Union Bank has fully absorbed Titan Trust Bank’s operations and assets.

The new institution will continue to operate under the Union Bank brand, while Titan Trust Bank ceases to exist as a separate entity.

With an expanded footprint of over 293 service centres and 937 ATMs nationwide, supported by strengthened digital channels, Union Bank is poised to deliver enhanced value across retail, SME and corporate segments.

Union Bank’s Managing Director and Chief Executive Officer, Yetunde Oni, described the development as “a pivotal moment in our 108-year journey and a launchpad for delivering greater value to our customers.

By blending stability with innovation, we are better positioned to meet the evolving needs of Nigerians and to be their most trusted financial partner.”

The Chairman of the Board of Directors, Bayo Adeleke, added: “This is a new era of growth, collaboration, and shared prosperity. By bringing together the strengths of both institutions, we are committed to creating lasting value for our customers, shareholders, and communities while advancing Nigeria’s financial inclusion agenda.”

The bank has assured customers that there will be no disruption to existing services, account details will remain unchanged, and customers will continue to access a full suite of products and services seamlessly, with an accelerated push towards enhanced digital solutions.