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Customer drags Ikeja Electric to NERC over bills

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A customer of Ikeja Electric and a staff member of PUNCH Nigeria Limited, Ogidi Stanley, has dragged Ikeja Electric to the Nigerian Electric Regulatory Commission over outrageous bills.

Ogidi lives in Adiyan, Ifo Local Government Area of Ogun State

His plight in the hands of Ikeja Electric began when he moved into his three-bedroom bungalow in October 2022.

According to him, he has since then been receiving “very unjustifiable and outrageous” electric bills from Ikeja Electric.

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“I applied immediately to Ikeja Electric for service in my property. After fulfilling all the necessary requirements and payments for registration, Ikeja Electric created an account for me; ACCOUNT NUMBER: 0102628269,” he said.

On December 11, 2022, Stanley said Ikeja Electric sent him the first bill N42,735.98. He said he was shocked on sighting the bill.

“I ran to my neighbors in the CDA with the bill, only to find out that no resident of that area and its environs were paying any amount more than N4,000.00 (Four thousand naira only) as electricity bill on a monthly basis.

“I immediately called the marketer of Ikeja Electric for the area, one Mr Lateef and complained to him. He advised me to ignore the bill and pay the normal amount paid by others which is N4,000.00, promising that he will rectify the anomaly from their end (Ikeja Electric). I paid as he had instructed,” he said.

However, he said Ikeja Electric kept sending outrageous and fraudulent bills.

“On January 12, 2023, Ikeja Electric posted a bill of N46, 773.25 to me, on February 13, 2023, the company posted N26, 242.26 to me.

“On February 14, 2023, I wrote to Ikeja Electric, raising the alarm over these crazy bills. After about a week, I got a call from one Mr Nathaniel of Ikeja Electric. After much questioning, he said he had referred my matter to Adiyan undertaking, but Ikeja Electric kept posting these outrageous bills to me,” he explained.

On April 17, 2023, Ogidi said Ikeja Electric sent an SMS to him, requesting him to visit their Olambe office, at No 50 Olambe Road, Ifo Ogun State, for Debt Dispute Resolution.

“I went there on April, 2023. I explained all these situations to them, and after much interrogation, the unit manager apologised and told me that THEY REGISTERED ME UNDER A WRONG TRANSFORMER. Explaining that the Ikeja Electric official who handled my registration, registered and created an account for me under Olambe transformer instead of Adiyan transformer. They promised to resolve the mistake within three weeks through their mapping systems. However, the official requested that I pay N20,000.00 (Twenty thousand naira only) representing a 20 per cent of the outstanding amount so as to initiate the process of mapping.  Unfortunately, NOTHING has changed and has been done since then to reverse the ugly trend.”

The aggrieved Ikeja Electric customer said this happened despite paying the N20, 000 fee requested by the company.

According to him, On June 12, 2023, Ikeja Electric posted a bill of N64, 005.50 to him, putting his total amount due at N302,859.21.

“The current bill sent to me is now N302, 859.21,” he said.

Ogidi said he became frustrated and decided to escalate the matter to NERC.

Efforts to get Ikeja Electric to react to the allegation did not yield any result.

 

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ZENITH BANK EMERGES BEST COMMERCIAL BANK IN NIGERIA AND BEST CORPORATE GOVERNANCE, NIGERIA AT WORLD FINANCE 2024 AWARDS

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ZENITH BANK EMERGES BEST COMMERCIAL BANK IN NIGERIA AND BEST CORPORATE GOVERNANCE, NIGERIA AT WORLD FINANCE 2024 AWARDS

Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2024, retaining the award for a fourth consecutive year. The bank was also named as Best Corporate Governance, Nigeria for the third year running in the World Finance Corporate Governance Awards 2024. The awards, which were published in the Summer 2024 Issue of the World Finance Magazine, are in recognition of the bank’s robust financial performance, superior customer service, sustainability initiatives and corporate governance practices.

Commenting on the dual honours, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, remarked: “These awards highlight our steadfast dedication to excellence, adherence to global best practices, and our persistent effort to deliver superior value to all stakeholders through innovative products and services. Receiving these awards consecutively for multiple years signifies the commitment of our staff, the loyalty of our customers, and the support of our shareholders. We remain devoted to setting industry benchmarks and driving excellence across all aspects of our operations.”

Dr. Umeoji expressed her delight at the recognition and dedicated the awards to the Founder and Chairman, Dr. Jim Ovia, CFR, for his impactful leadership in establishing a robust and flourishing institution. She also expressed gratitude to the board for their vision and insight, the staff for their unwavering dedication, and the bank’s customers for choosing Zenith as their preferred bank.

World Finance is a leading international magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy. The editorial combines award-winning reportage, covering a broad range of topics from banking and insurance to wealth management and infrastructure investment, with contributions from some of the world’s most well-respected economists and theorists as well as consultants in government think tanks and the World Economic Forum.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 14th consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine. We were also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria in the International Banker 2024 Banking Awards

Further recognitions include Best Bank in Nigeria for three consecutive years from 2020 to 2022 in the Global Finance World’s Best Banks Awards and Best Commercial Bank, Nigeria for three consecutive years from 2021 to 2023 in the World Finance Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022 and 2023, and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021 and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards. The bank also received the accolade of Most Sustainable Bank, Nigeria, in the International Banker 2023 Banking Awards and Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards. Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards

 

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Wema Bank Commemorates International Day of Cooperatives in Collaboration with Lagos State Government

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Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank ALAT, has reiterated its commitment to empowering cooperative societies for optimal productivity through its digital solution for cooperatives, CoopHub, at the Lagos State Government Ministry of Commerce, Cooperatives, Trade and Investment International Day of Cooperatives 2024 Event held on Saturday, 6th July 2024.

…Reiterates Commitment to Empowering Cooperative Societies for Optimal Productivity through CoopHub.

Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank ALAT, has reiterated its commitment to empowering cooperative societies for optimal productivity through its digital solution for cooperatives, CoopHub, at the Lagos State Government Ministry of Commerce, Cooperatives, Trade and Investment International Day of Cooperatives 2024 Event held on Saturday, 6th July 2024.

International Day of Cooperatives is a global celebration commemorated annually on the first Saturday of July, to recognise the significant impact of cooperative societies in promoting sustainable economic growth and their role in building a more sustainable future. Themed “Cooperatives: Building a Better Future For All”, the 2024 International Day of Cooperatives commemorated by the Lagos State Government in collaboration with Wema Bank, convened key players in the cooperative ecosystem towards proffering solutions to prevalent challenges faced by cooperatives in Nigeria and creating a more sustainable future for all, through the cooperative industry. CoopHub, Wema Bank’s digital solution for cooperative societies stood out as a key solution to not only overcoming the challenges impeding the growth of cooperative societies but also boosting economic growth and creating a better future for all.

CoopHub is a digital solution launched by Wema Bank to empower cooperative societies with the resources, opportunities and support they need to operate seamlessly, achieve maximum productivity and meet the needs of members in the most efficient way. Simultaneously eradicating the struggles of manual recordkeeping, poor access to loans, inefficient communication and planning, tedious processes and insecurity of funds and data, CoopHub refines the cooperative experience by facilitating secure financial transactions, 100% transparency within cooperative societies, easily accessible and trackable records for both members and leaders, efficient member management for leaders and real-time reporting for informed decision making, all from the comfort of their phones and gadgets, ensuring that cooperative societies can achieve their goals easily and remain productive. This revolutionary solution has proven itself a gamechanger for the Nigerian Cooperative Industry and potentially, will serve as the launchpad of the industry on the global scale.

Recapitulating the role of cooperative societies as an essential avenue for economic growth, Wema Bank’s Divisional Head of Retail and SME, Ayodele Olojede, emphasised the need for intentional, impactful and sustainable efforts towards the advancement of the Nigerian Cooperative Industry. “Cooperative Societies represent a very significant platform for socio-economic development and for us at Wema Bank, we stand proudly as the cooperative-centric bank that is committed to providing the resources and tailored solutions that these cooperatives need to thrive and remain successful. CoopHub is the perfect embodiment of this commitment, and we are thrilled that more cooperatives are discovering this solution and coming on board to optimise their operations and maximise the opportunities provided for their growth. The achievement of a sustainable and ideal future for cooperative societies not only requires that we adapt to the increasingly digital world we exist in, but also drive more inclusivity for the youth to also key in. CoopHub succinctly unites both pillars in one and as the digital solution pioneered by Nigeria’s most resilient and innovative bank, you can trust that the future we are enabling for cooperative societies is one that is built to last”.

“As the Bank that is committed to creating and promoting viable opportunities for women, in celebration of International Day of Cooperatives, we are supporting every woman present here at the Lagos State Government Ministry of Commerce, Cooperatives, Trade and Investment International Day of Cooperatives 2024 Event, with a free healthcare plan through our women-focused proposition, SARA by Wema. We remain unwavering in our lifelong mission of empowering lives through innovation and are committed to proliferating our positive impact across every key vertical that is instrumental to the success of the people and the growth of the Nigerian economy. We take this unique celebration as an opportunity to further reiterate our commitment to empowering cooperative societies for optimal productivity through CoopHub. She concluded.

Since its launch in May 2024, CoopHub, the first of its kind in the Nigerian financial services industry, has onboarded over 1,000 cooperative societies, helping them optimise their operations and secure the resources and support they need to thrive with maximum efficiency. With its unique, simplified and tailored configuration, CoopHub stands as the future of Nigerian cooperative societies.

Cooperative Societies that are interested in getting started on CoopHub, are encouraged to visit https://coophub.alat.ng and get onboarded in minutes.

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