President Bola Tinubu has approved the introduction of electric vehicles in the geopolitical zone to reduce transportation costs.

Mohammed Alkali, CEO of the North East Development Commission (NEDC), disclosed this while speaking with state house correspondents on Wednesday.

He said the decision was reached as a result of plans to create modular solar power units across states in the region.

He said NEDC has conducted a “thorough” analysis of compressed natural gas (CNG) and e-vehicles and concluded that the later are better suited for the region.

Abdulsalam Ahmed, executive director of operations for NEDC, said the e-vehicle fleet will comprise three categories.

These are e-buses designed for intra-state movements with a minimum capacity of 40 people per trip, e-taxis capable of carrying three people including the driver, and modified tricycles enhanced to carry eight people including the driver.

He said the commission prioritised local content and will ensure that the vehicle bodies can be fabricated locally in the north-east or other parts of the country.

“We are here today to brief Mr president on one very critical activity he has approved which we had to engage in the last two months,” he said.

“As you can recall, there is a directive from the president that cars as soon as possible should use CNG or electric vehicles. We, at the north-east development commission, did a thorough analysis of our region, and looked at the comparable advantage between CNG and e-vehicles.

“After our thorough analysis, we came to the conclusion that for the north-east region, yes, the CNG could work, but e-vehicle can work better for many reasons.

“One is that our plan at the end of day is to create modular solar power units across the state which can be used to power this percentage of e-vehicles.

“On that note, earlier on, we sought and got approval of the presidency for us to go ahead and come up with the framework of how we are going to deploy this e-mobility in the northeast and what kind of e-mobility, etc.

”Mr. President graciously gave approval, and today, we came to present to him the kind of e-vehicles we are going to introduce in the morth-east.”

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has recovered over N13 billion in public funds diverted in September 2024.

Musa Aliyu, ICPC chair, disclosed this on Wednesday at the launch of the commission’s strategic action plan for 2024 to 2028.

Aliyu said the achievement reflects ICPC’s efforts towards eliminating corruption and promoting accountability in the country.

“Over the past years, the ICPC has made significant progress in discharging its mandate; for example, we recovered over N13 billion diverted public funds in September 2024 alone,” Aliyu said.

“This is just one of the many ways we have worked tirelessly to fulfill our mandate.”

The ICPC boss said the commission is also digitalising its operation to enable it conduct effective and robust investigations.

He added that ICPC is also working towards identifying institutional and administrative vulnerabilities through system studies and corruption risk assessments.

“We are also embarking on ICT reforms that will digitalise our operations and enable more efficient investigations, case management, and internal processes,” he added.

“This transformation will position the commission as a leader in leveraging technology to combat corruption, keeping us one step ahead of criminal activities in the digital age.

“We have also continued to engage with the Anti-Corruption and Transparency Units (ACTUs) in ministries, departments, and agencies (MDAs), reinforcing our grassroots monitoring mechanisms.

“As we look ahead, the success of this strategic plan will rely heavily on synergy, collaboration, and strategic partnerships. I want to reaffirm the ICPC’s commitment to a multi-agency approach in tackling corruption.”

Stanbic IBTC Holdings Plc has appointed Kunle Adedeji as acting chief executive officer (CEO).

In a statement on Wednesday signed by Chidi Okezie, the company secretary, Stanbic IBTC said Adedeji will replace Demola Sogunle, who will retire on October 31.

Stanbic praised Sogunle for his contributions to the success of the group after 35 years of dedicated service.

“After almost 35 years of dedicated service, Dr. Sogunle has made significant impact on Stanbic IBTC as a Group, guiding the organisation through numerous challenges and achievements,” the company said.

“The Board of Directors extends its profound gratitude for his unwavering commitment, visionary leadership, and significant contributions to the success of Stanbic IBTC Group over the years.”

Sogunle occupied various positions within the group, serving as the chief executive of Stanbic IBTC Pension Managers Limited from 2011 to 2015 before his appointment as deputy chief executive of Stanbic IBTC Bank Limited in December 2015.

In 2020, he became the CEO of Stanbic IBTC Holdings.

Commenting on the appointment of Adedeji, Stanbic IBTC said he is the current chief financial and value management officer of the company and will remain in the role throughout his time as acting CEO.

According to Stanbic IBTC, Adedeji has over 25 years of experience working within the banking sector.

“Following the retirement of Dr. Demola Sogunle, the Board has received regulatory approval to appoint Dr. Kunle Adedeji as acting chief executive of the company, with effect from 1 November 2024. Dr. Adedeji brings a wealth of experience and a strong track record of leadership within our organisation,” the company said.

“Adedeji, who was appointed as an executive director in 2019, is a seasoned financial expert with over 25 years in the banking sector.”

Stanbic IBTC said Adedeji holds a master of business administration (MBA) in finance from the University of Lagos and a doctor of business administration (DBA) from the SBS Swiss Business School, Switzerland.