Economy
Abia Governor Alex Otti Signs Electricity Bill Into Law
Abia Governor Alex Otti Signs Electricity Bill Into Law
Abia governor Alex Otti signs electricity bill into law. The governor said the integrated power initiative now stands as a model for power infrastructure in Nigeria.
Gov. Alex Otti of Abia has signed the Abia State Electricity Bill into law, setting the stage for a new era of energy regulation, investment protection, and power expansion in the state.
Speaking after signing the bill into law on Monday in Nvosi, Isiala Ngwa South Local Government Area, Mr Otti said the legislation, which emanated from the Executive, received swift but thorough passage by the Abia House of Assembly.
“This law will ensure that we protect the investments made by Aba Power while granting the government the latitude to regulate.
“It is a document that will stand the test of time, protecting existing and prospective investors in the energy sector,” he said.
The governor said the bill benefited from the expertise of 15 international power experts from the United States, Canada, Southeast Asia, and Europe, who contributed pro bono.
He added that the state engaged Banwo & Ighodalo, a top-tier Nigerian law firm, to refine the legal framework of the bill before it was signed into law.
According to him, Abia has a unique electricity framework, with a ring-fenced power system that covers Aba South, Aba North, Osisioma,Obingwa, Ugwunagbo, Ukwa East, Ukwa West, IsialaNgwa South and Isiala Ngwa North Local Government Areas (LGAs).
He said the state has Aba Power Ltd., an independent integrated power initiative, covering generation, transmission, and distribution, which had been in development for two decades.
The governor said the integrated power initiative now stands as a model for power infrastructure in Nigeria.
Mr Otti said with the law in place, the government had started making efforts to integrate the remaining eight LGAs of Abia into a new Umuahia Ring-Fence, ensuring stable electricity across the state.
He said the legislation prioritises renewable energy solutions, positioning Abia as a leader in sustainable power initiatives.
Mr Otti disclosed that discussions were underway with Geometric Power, the parent company of Aba Power Ltd., to expand electricity distribution beyond Aba.
He added that plans were underway to establish the Abia State Electricity Regulatory Authority (ASERA) to ensure that the sector remains efficient and investor-friendly.
Mr Otti commended the 8th Abia State House of Assembly for its diligence and expertise in reviewing and passing the bill.
He said the law had positioned the state as a choice destination for private investment in power generation, ensuring a more stable and efficient electricity supply for businesses and residents.
Mr Otti also hinted at the potential for Abia to supply electricity to other Southeastern states, generating additional revenue for the state.
The Speaker of the House of Assembly, Emmanuel Emeruwa, said that power plays a vital role in the achievement of development strides in the state.
Mr Emeruwa said:” We understand the rebuilding agenda of the present administration that is why we are working hand in glove with the Executive arm of the government.”
Also, the commissioner for power and public utility, Ikechukwu Monday, said the law would be aimed at creating a robust and reliable power market in the state.
Mr Monday said the law, which aligns with the Electricity Act 2023, would enable Abia to establish its own regulatory framework and attract investment in the power sector.
He described the legislation as a product of extensive collaboration with global stakeholders and experts, tailored to the unique electricity ecosystem of Abia.
“Notably, Abia is one of the few states in Nigeria with a ring-fenced power zone covering nine local government areas, allowing for off-grid operations.
“Additionally, the state hosts two distribution companies: Aba Power Ltd. and Enugu Electricity Distribution Company,” he said.
He noted that the law had been designed to promote local participation and manpower development in the power sector.

Alex Otti
“Abia people are highly skilled, and this law ensures that we build the capacity needed to support not just the state’s power industry but also contribute to the global energy workforce,” he said.
He added that the law addresses critical issues such as vandalism, energy theft, and investment security, which have long hindered power sector growth.
Mr Monday also said that it makes clear provisions for investor protection, as the government hopes to create a more attractive business environment for local and foreign stakeholders.
He said the legislation incorporates gender mainstreaming, ensuring inclusivity and diversity in Abia’s power sector in line with global best practices.
Mr Monday said that ASERA would oversee the implementation of the new electricity market framework and the process of setting up the agency would be completed within the next six to twelve months.
“This authority will be responsible for driving the development of Abia’s electricity market, ensuring compliance with regulations, and facilitating investment in the sector,” he added.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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