PRESIDENT TINUBU RECONSTITUTES THE BOARD OF THE NIGERIAN ELECTRICITY REGULATORY COMMISSION. (PHOTO). #PRESS RELEASE

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 STATEHOUSE PRESS RELEASE   President Tinubu Reconstitutes the Board of the Nigerian Electricity Regulatory Commission   President Bola Ahmed Tinubu has approved the reconstitution of the Board of the Nigerian Electricity Regulatory Commission (NERC), following the Senate's confirmation of its members on December 16.   Members of the reconstituted Board are:   • Mulisiu Olalekan Oseni, PhD. — Chairman   Dr Oseni started his service as a Commissioner in January 2017. He was subsequently appointed Vice Chairman of the Commission.   His appointment as Chairman took effect from 1 December 2025 and shall subsist until the completion of his ten-year tenure at the Commission, in accordance with the provisions of the Electricity Act, 2023.   • Yusuf Ali, PhD. — Vice Chairman   Dr Ali was first appointed as a Commissioner in February 2022. His designation as Vice Chairman took effect on 1 December 2025 and shall remain in effect until the completion o...
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BAYELSA COURT ORDER: NOT OUR HABIT TO DISOBEY COURT ORDERS- EFCC. (PHOTO).

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 Bayelsa Court Order: Not Our Habit to Disobey Court Orders - EFCC

 

The attention of the Economic and Financial Crimes Commission has been drawn to a trending report in the media that Ola Olukoyede, the Commission’s Executive Chairman risks committal to prison for alleged violation of the orders of Justice  Isa H. A. Dashen  of  a Federal High Court sitting in Yenagoa, Bayelsa State.


The said order restrains the EFCC from seizing properties belonging to Bliss Multinational Perfections Limited and Bribena, which are alleged proceeds of investment fraud otherwise known as Ponzi scheme.


It is important to point out that the September 4, 2024 judgment by Justice Dashen came to the Commission by surprise as the EFCC was not put on notice of the judgment date.


Denying the EFCC hearing notice was tantamount to blind-siding the Commission, and by extension a denial of fair hearing in the instant case. The Commission is therefore taking steps to appeal the judgment, which is still within the time allowed. An earlier decision by the court in a similar case involving the same defendants is currently on appeal at the appellate court in Port Harcourt.


The Commission wishes to once again reaffirm its commitment to rule of law and will not wilfully violate any court order.

Bliss Multinational Perfection and Arch Oyinmiebi Bribena, the Chief Executive Officer of Baraza Multipurpose Cooperative Society Limited, were investigated and indicted for investment fraud in which 123 petitioners lost over N2billion to the suspects who promised them 25 percent return on investment but neither got the promised return nor recover the funds invested.


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