NEWS AGENCY OF NIGERIA
AEDC reclaims stolen power assets from police

AEDC reclaims stolen power assets from police

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Cables

By Constance Athekame

The Abuja Electricity Distribution Company (AEDC) says it has taken delivery of vandalised electricity cables recovered by the Police Command in the Federal Capital Territory (FCT).

AEDC’s Head of Marketing and Corporate Communications, Adefisayo Akinsanya disclosed this in a statement issued in Abuja on Tuesday.

Akinsanya stated that the formal handover of the recovered items was done by the FCT Commissioner of Police (CP) Tunji Disu, who was represented by the Deputy Commissioner of Police (DCP) Operations, Ishaku Sharu.

Akinsanya said that the recovery followed a coordinated security operations aimed at cracking down on vandalism and illegal activities that threatened electricity distribution across the FCT and its environs.

According to her, the Managing Director of AEDC, Mr Chijioke Okwuokenye, has expressed deep appreciation to the security agencies for their relentless efforts, reaffirming the company’s zero-tolerance stance on vandalism.

“We commend police command in the FCT and other security operatives for their unwavering dedication to recovering these vandalism as such collaborative efforts are crucial in safeguarding national infrastructure and enhancing power reliability.

“This successful operation serves as a powerful message that acts of sabotage will not go unpunished.

“Vandalism is not just a crime against AEDC; it is an attack on our communities, depriving homes, businesses, and critical services of power and AEDC will not relent in its fight against such criminal acts,’’ Okwuokenye said.

He said that the company would pursue every legal measure to bring perpetrators of act of vandalism to justice.

The managing director called on community leaders, residents, and all stakeholders to remain vigilant and report any suspicious activities to the authorities.

He said that AEDC had established multiple whistleblowing channels to facilitate anonymous and secure reporting of suspicious activities, adding that the move was to encourage public participation in combating vandalism.

“AEDC remains unwavering in its commitment to protecting and improving power supply across its network.

“We will continue to invest in infrastructure, strengthen security measures, and collaborate with stakeholders to ensure uninterrupted electricity for our customers.

“By working together, we can create a more resilient and sustainable power system that drives economic growth and national development,” he said. (NAN)

Edited by Deji Abdulwahab

FCTA approves N795.6m to insure movable, immovable assets

FCTA approves N795.6m to insure movable, immovable assets

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By Philip Yatai

The Federal Capital Territory Administration (FCTA) has approved N795.6 million to provide a 12-month insurance cover for its movable and immovable assets.

Mrs Grace Adayilo, FCT Head of Civil Service disclosed this in Abuja on Thursday, while briefing journalists on the outcome of the FCT Executive Committee meeting, the first in 2025.

Adayilo said that the committee approved the contract to four insurance companies and three insurance brokers.

According to her, the insurance policy is mainly to safeguard FCT’s assets against various risks, including damage, loss or destruction.

“This will ensure the continuity of government businesses and minimise financial losses in the event of unforeseen incidents.

“This is in line with federal government’s directive, mandating the compulsory insurance of government assets, properties, buildings under construction and public funds,” she said.

She identified the insurance companies and brokers as Consolidated Hallmark Insurance PLC (Lead), KBL Insurance PLC, Cornerstone Insurance PLC and Crown Takaful Insurance Ltd.

Adayilo also identified the three insurance brokers as Sam-Vic Insurance Brokers Ltd (Lead), Radiance Insurance Brokers Ltd, and KOB Insurance Brokers Ltd. (NAN)

Edited by Rotimi Ijikanmi

ICRC, NAICOM collaborate to enforce insurance cover for PPP assets

ICRC, NAICOM collaborate to enforce insurance cover for PPP assets

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By Sumaila Ogbaje

The Infrastructure Concession Regulatory Commission (ICRC) is to partner with the National Insurance Commission (NAICOM) on ensuring that concessionaires procure insurance covers for assets under Public Private Partnership (PPP) arrangements.

 

This is contained in a statement by the Acting Head, Media and Publicity, ICRC, Ifeanyi Nwoko, on Wednesday in Abuja.

 

The two organisations reached the agreement during a visit by the Chief Executive Officer of NAICOM Mr Olusegun Omosehin, to the Director General of ICRC, Dr Jobson Ewalefoh, in Abuja.

 

In his remark, the ICRC boss reiterated the need for all strategic assets of the Federal Government to be insured and commended NAICOM for following it up with a visit.

 

Ewalefoh said that insurance of PPP assets was not optional but mandatory as it was stipulated in Section 7(2)a of the ICRC Act (2005) which states.

 

According to him, the Act states that the project proponent or contractor shall undertake appropriate insurance policy on the concession with an insurance company approved by the National Insurance Commission.

 

“We have to ensure that the concessionaires obtain the appropriate insurance policy that they are required by law to undertake in line with the value of the asset.

 

“Working in collaboration with NAICOM, we would be able to determine if the right insurance policy has been obtained,” he said.

 

Ewalefoh added that the ICRC was already requesting concessionaires of new PPP projects to provide proof of insurance cover for the projects they were about to undertake.

 

He said that the ICRC would now work out modalities in conjunction with NAICOM to ensure compliance by concessionaires of ongoing projects that were yet to procure insurance for the project.

 

According to him, the modalities will be issued by January 2025 to all concessionaires.

 

On his part, the CEO of NAICOM, Omosehin, said his commission was charged with regulating and supervising the insurance sector in Nigeria, while also advising government and its agencies on insurance matters.

 

He said the NAICOM was responsible for ensuring that critical national assets had adequate cover.

 

According to him, one key thing that made this meeting possible was the position of the DG on insurance of PPP assets when he met with the Interior Minister.

 

“We are here to forge that partnership that will enable that provision in the law to be enforced.

 

“I hope NAICOM and ICRC will use this opportunity to forge a quick alliance in ensuring that the partnership works in ensuring that the compliance part of the law works,” he said.

 

The NAICOM boss commended his ICRC counterpart for his position on enforcing insurance, adding that the power to enforce insurance across all sectors was not contained in the NAICOM Act but only in the Act of other agencies like ICRC.

 

He added that NAICOM was willing to offer effective trainings to ICRC officers who would be part of the technical committee.

 

Highpoint of the meeting was the appointment of a joint technical committee by the two agencies to work out modalities for optimising insurance covers for all government PPP assets. (NAN) (www.nannews.ng)

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