EMEFIELE: FINANCE MINISTRY UNAWARE OF N124.86BN CBN WITHDRAWAL, WITNESS TELLS COURT. (PHOTO). #PRESS RELEASE

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 Emefiele:  Finance Ministry Unaware of N124.86bn CBN Withdrawal,   Witness Tells Court   A Director in the Federal Ministry of Finance, Ali Mohammed, on Tuesday, October 6, 2026, told the Federal Capital Territory, FCT High Court sitting in Maitama, Abuja, that the Ministry was not aware of the withdrawal of N124.86 billion from the Central Bank of Nigeria, CBN.   Mohammed, who testified as the prosecution witness 10, PW10, in the ongoing trial of the former CBN Governor, Godwin Emefiele, disclosed this while being led in evidence by the prosecution counsel, Abbas Mohammed.   The witness said he appeared before the court because his Ministry received a letter from the investigation team concerning N154 billion said to have been withdrawn by the CBN.   Explaining his position and responsibilities in the Ministry, Mohammed said, “My Lord, the Department of Home Finance is made up of three functions based in three divisions, that is State and Public...
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ADELABU INVITES TCN, NERC OVER GRID COLLAPSE. (PHOTO).

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 Adelabu invites TCN, NERC over grid collapse


Worried by the disturbance on the national grid which threw some sections of the country into darkness twice within the week,  Minister of Power, Chief Adebayo Adelabu at the weekend summoned the leadership of  the Nigeria Electricity Regulatory Commission (NERC) and the Transmission company of Nigeria (TCN) to an emergency meeting.  

The Minister expressed displeasure over the incident, which he said, was capable of rubbishing the giant strides made in the last one year which has led to an increased generation and distribution of 5, 527 megawatts, a record generation in three years.

This was contained in a statement by his Special Adviser, Strategic Communication and Media Relations, Bolaji Tunji, from Abuja on Tuesday.

The statement said Adelabu also constituted a forensic investigation committee  with a mandate to advise the government on necessary solutions to make the national grid robust and reliable in addition to the ongoing efforts of the government like the Presidential Power Initiatives (PPI) and the Nigeria Electricity Transmission Project (NETAP).

The Committee is to also establish the root cause of both incidents especially a review of potential sabotage on the system. 

The Committee will holistically review the national grid stability and identify investments and technical capacities required to make the grid smart and resilient.

A technical team has also been deployed to access the critical nodes on the national grid to identify potential vulnerabilities and proffer recommendations to address these vulnerabilities to prevent future disruptions to the  grid.

The six-member committee consists of ; Engr. Nafisat Ali, Executive Director, Independent System Operator (ISO), who leads the committee, Dr. Chidi Ike, Commissioner, NERC, Engr. Ishola (GM. National Control Centre (NCC) , Engr. Emmanuel Nosike, Director,  Transmission, Federal Ministry of Power (FMoP),   Engr. Ali Sharifai (GM, Transmission Service Provider (TSP) and Mr. Adedayo Olowoniyi, Chief Technical Adviser to the Minister of Power. 

The team is expected to present a report to the Minister by November 1,  2024.

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