News
Dalyoho Community Ends 10-Year Wait for Electricity with Transformer Installation
After a decade of waiting, Dalyoho, a community in Chugwi Ward, Jos South LGA, Plateau State, finally has electricity following the installation of a 300KVA transformer. The long-anticipated project was commissioned on Tuesday, January 28, 2025, bringing excitement and relief to the residents.
The commissioning ceremony, attended by the community’s traditional ruler, former and present ward executives, officials from the Jos Electricity Distribution Company (JEDC), and community members, marked the beginning of a new era for Dalyoho.
Davou Emmanuel Mwantiyi, the immediate past chairman of the ward, shared the community’s long struggle for electricity. He revealed that the transformer was originally donated in 2015 but remained unused due to unfulfilled promises. “It wasn’t until we approached our very own Director of Press, Gyang Bere, that action was taken. Within a week, the installation began, and today, we celebrate,” he said.
Engineer David, who oversaw the installation, praised the community for maintaining the transformer for a decade. However, he emphasized the need for more cables and poles to ensure safety and efficient electricity distribution.
The custodian of the community, HRH Da Atyos M. Mandung, called on other political figures to invest in their communities as Bere has done. He also encouraged residents to actively participate in politics to ensure their voices are heard.
Gyang Bere, the Plateau State Director of Press, highlighted that the installation is part of a broader effort by the Plateau State Rural Electrification Committee to provide light to underserved areas. “Eight communities will benefit from this project, creating opportunities for businesses to thrive,” he noted.
The community expressed overwhelming joy, celebrating with music and dance. “This installation means everything to us. Even our elderly mothers, who may not use electricity for business, are filled with joy,” said a resident, Saratu Ayuba Gang. Another resident, James Mancha, described the occasion as historic, emphasizing its impact on the entire community and its neighbors.
An award was also presented to Bere by the community’s newly inaugurated EXCO’s in recognition of his efforts.
The commissioning of the transformer marks a new chapter for Dalyoho, with hopes of economic growth and better living conditions now within reach.
BY NKECHI NAECHE-ESEZOBOR—The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks with effect from July 1, 2026, as part of efforts to strengthen the stability of the country’s financial system and enforce regulatory compliance.
The apex bank said the action was taken in accordance with its powers under Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020.
According to the CBN, the revocation was approved by its Governor, Mr. Olayemi Cardoso, following the affected banks’ failure to meet the regulatory requirements necessary for continued operation as licensed financial institutions.
The Bank explained that the decision was necessitated by one or more regulatory infractions, including insufficient assets to meet liabilities, closure of operations without prior approval from the CBN, prolonged inactivity and cessation of financial intermediation, failure to commence operations within 12 months of receiving a licence, and failure to maintain the minimum capital requirement unimpaired by losses.
The CBN stated that the revocation forms part of its ongoing supervisory and regulatory measures aimed at safeguarding the stability of the financial sector, protecting depositors, and ensuring that all licensed financial institutions operate in compliance with existing laws and regulatory standards.
The apex bank reaffirmed its commitment to promoting a safe, sound, and resilient financial system, adding that it will continue to take appropriate regulatory and supervisory actions whenever necessary to maintain public confidence in Nigeria’s financial system.
The post CBN Revokes Licences of 46 Microfinance Banks appeared first on Business Today NG.
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