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  Godwin Emefiele, Suspended CBN Governor. The battle for freedom has begun for the suspended Governor of the Central Bank of Nigeria, Godwin Emefiele. He was arrested by DSS on Friday. The arrest was reported shortly after President Bola Tinubu suspended Emefiele. According to the president, Emefiele was suspended due to the ongoing investigation of his office and the planned reforms in the financial sector of the economy. Prior to Emefiele’s suspension, the DSS, on December 7, 2022, in an exparte application with reference no: FHC/ABJ/CS/2255/2022, sought an order to arrest the CBN Governor. The security agency accused Emefiele of financing terrorism, fraudulent activities and economic crimes of national security dimension. The Chief Judge of the Federal High Court, Justice J.T Tsoho, however, refused to grant the application of the DSS. The court said such an application should have been accompanied with the presidential approval because of the grave implications for the Nigerian ec

  President Bola Tinubu has approved the new Electricity Act, which replaces the 2005 Electricity and Power Sector Reform Act. The Electricity Act was first passed in July 2022 in the administration of former President Muhammadu Buhari. The new bill seeks to promote private sector investments in the Nigerian power sector and de-monopolise the nation’s electricity generation, transmission and distribution at the national level. Below are 10 benefits of the assented 2023 Electricity Act: 1. The passage means that anyone may construct, own, or operate an undertaking for generating electricity not exceeding one megawatt in aggregate at a site, or an undertaking for distribution of electricity with a capacity not exceeding 100 kilowatts in aggregate at a site, or such other capacity as the Commission may determine from time to time, without a licence. 2. Electricity generation licensees are obligated to meet renewable generation obligations as may be prescribed by the Nigerian Electricity R