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Transcorp Power Positively Impacts Host Community

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On the 13th of March 2017, Transcorp Power Limited commissioned a 115MW gas turbine to much fanfare. This commissioning is one of three milestones the GENCO intends to achieve in order to increase the power plants total generating capacity to 850MW. This by all standards is truly an impressive feat considering the fact that the plant had a total generating capacity of 160MW when it was acquired by Transcorp Power Limited, barely three years ago. As remarkable as the commissioning was to those at the event, the plants CSR initiatives and commitment to empowering those in the host communities that surround the Ughelli power plant managed to gain equal applause.

 

Transcorp Power Limited finds itself in a unique location, on the border of three communities; The Ekakpamre community, Ekrerhavwe community and the Eruemukohwarien community. This has not stopped the company from pursuing development initiatives that have benefitted all three. Since 2014 one capital project is undertaken annually in each, based on the recommendation of the communities themselves led by their traditional rulers.

 

CEO Transcorp Power Limited, Kalyana Sundaram explained that the company sustained community development relationships with host communities. “We awarded contracts for three projects (secretariat, town hall and teachers’ house) in 2017 which will be beneficial to the communities upon completion. The projects are in various stages of completion.  Also, in line with our empowerment drive, we continued with the “on the job” artisan program under which six artisans were admitted in two batches with each of our host communities nominating two artisans into the program.”

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Left to right: Honourable Minister of Power, Works & Housing, Mr Babatunde Fashola (SAN), Executive Governor of Delta State, Dr Ifeanyi Okowa, Chairman Transcorp Power Limited and Transcorp Plc. Tony O. Elumelu and President/CEO Transcorp Plc. Emmanuel Nnorom.

This CSR initiative is an undertaking, the company intends to expand on as it moves forward into the future. speaking on the development, President/CEO Transcorp Plc. Mr. Emmanuel Nnorom, described the initiative as proof of the company’s commitment to a long-term and mutually beneficial relationship with the host community.

In his response, The executive Governor of Delta state, Dr Ifeanyi Okowa commended the CSR initiatives of Transcorp Power Limited and reminded all in attendance that anything done in the empowerment of Niger Delta youths will ultimately deplete the pool of candidates that could be attracted to negative activity.

 

Also speaking, the Honourable minister of Power, Works & Housing, Mr Babatunde Fashola, commended the rare initiative by Transcorp, saying the youths of the Niger Delta must recognise that nobody could be more Niger Delta than Tony Elumelu. He has chosen to invest here to support our collective growth as well as impact lives positively, so every time you take away gas from this plant, you are hurting one us, you are hurting one of your own and you are losing opportunity.

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Controversial Sterling Bank caught in the act! CBN sanctions, parades officials for hoarding new naira notes [VIDEO]

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Officials of the Central Bank of Nigeria (CBN) have discovered N6 million of the new naira notes hoarded in Sterling Bank Plc, Ado Ekiti branch on Bank Road, Ado Ekiti in Ekiti State, having received the funds for over two weeks, THE WITNESS reports.

 

In a trending video on social media, seen by THE WITNESS, a man who identified himself as Oluwole Owoeye, a deputy director of CBN, while monitoring the distribution of the new naira notes in the state, was seen questioning the bank officials as to why they have not uploaded the funds into their Automated Teller Machines, (ATMs), despite having six of the machines in place.

 

The CBN director also announced a fine of N1 million for each day the fund was in the bank’s custody.

 

The CBN official said, “I am currently at Sterling Bank, on Bank Road as part of the new naira notes monitoring compliance with the guidelines by CBN. They have N6 million, which they collected from the bank for almost two weeks, they have not disbursed any. They said they are yet to configure their ATMs, I do not know why that and I have brought attention to the penalty clause of N1 million per day, because they have five ATMs here, they have no reason for keeping this money.

 

“The zonal service manager, Tunde Onipede promised that by 10:00am latest tomorrow (Monday), because I told him by latest 10:00 am I’ll be here and I want to see the machine dispensing this money.

 

“What is the name again? Olumide Owolabi (Service Manager, Ado) & Motunrayo Babayele. My name is Oluwole Owoeye and I am a deputy director of CBN.”

 

WATCH VIDEO HERE:

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FCMB Manager Arrested For Hoarding New Naira Notes

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A manager of the First City Monument Bank (FCMB) branch in Osogbo, Osun State capital, has been arrested for allegedly preventing Automated Teller Machines (ATMs) loaded with cash from dispensing money to customers.

The spokesperson of the Independent Corrupt Practices and other related offenses Commission (ICPC), Azuka Ogugua, in a statement on Friday said the cash bundles were loaded into the ATMs while still wrapped, and as such, could not be dispensed through the machines

“The ICPC Compliance Team in Osogbo has busted an FCMB in Osogbo, Osun State, where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed.

“The Team, therefore, directed that the wrappers be removed, and the cash loaded properly’.

Similarly, seven Point of Sale (POS) operators as well as a security guard were arrested during the ongoing exercise in Osun State for charging exorbitant commissions for cash.

Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

The arrested persons are helping the Commission with information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes.

 

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New naira: ICPC arrests Stanbic IBTC Bank manager over sabotage

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The Independent Corrupt Practices and other related offences Commission (ICPC), has arrested an official of Stanbic IBTC Bank in Abuja for alleged sabotage.

The ICPC spokesperson, Azuka Ogugua, said the development was in continuation of ICPC’s clampdown on elements frustrating efforts in making the redesigned Naira notes available to members of the public.

The bank official, who is the branch service head of Stanbic IBTC Bank, Deidei Branch in Abuja, was taken into custody for her deliberate refusal to upload cash into the branch’s Automated Teller Machines (ATMs) even when the cash was available and people were queuing at the ATM points.

The statement reads: “When the ICPC monitoring team stormed the bank at about 1:30pm on Friday to ensure compliance, and demanded explanation as to why all the ATMs were not dispensing cash, the team was informed by the branch’s head of operations that the bank just got delivery of the cash.

“However, facts available to the ICPC operatives indicated that the branch took delivery of the cash earlier around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash.

“Against this backdrop, the ICPC team compelled the bank to load the ATMs with the redesigned Naira notes and ensured that they were all dispensing before arresting the culprit.

“The ICPC said investigations were still ongoing and the Commission will take appropriate actions as soon they are concluded.

“Similarly, seven Point of Sale (PoS) operators as well as a security guard were arrested during an ongoing exercise in Osun State for charging exorbitant commissions for cash.

“Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

“The arrested persons were helping the anti-graft commission with information to assist investigations and bust other syndicates involved in the hoarding and sales of the redesigned Naira notes,” the anti-graft agency said.

 

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