Saturday, February 16, 2019

Reps panel asks NERC to reverse suspension of Ibadan DisCo directors

Reps panel asks NERC to reverse suspension of Ibadan DisCo directors
July 25
17:11 2018

A house of representatives panel has asked the Nigerian Electricity Regulatory Commission (NERC) to rescind its decision to suspend the board members of the Ibadan Electricity Distribution Company Limited (IBEDC).

The house committee on power gave the order during its investigative hearing on Wednesday.

The NERC had in June suspended the board of directors and key management staff over over a N6bn “inappropriate” loan to its core investor.

This prompted the IBEDC to file a suit against the commission at a federal high court in Abuja.

In a July 4 ruling, Nnamdi Dimgba, the presiding judge, ordered the two parties to maintain the status quo in the matter pending its final decision.

The matter also came up at the lower legislative chamber where the committee was asked to investigate it.

At the hearing in Abuja, Dan Asuquo, chairman of the committee, had asked the NERC whether it has obeyed the court order on the matter.

James Momoh, NERC chairman answered in the affirmative, but admitted the committee was yet to announce that it is rescinding the decision.

Asquo, however, told him they have not obeyed the court order until they rescind the decision.

He said: “I want to direct without any ambiguity that within 48 hours, you obey the court order and rescind the directive as you sent it out to maintain status quo. And then you return to us that you have honoured the court directive.

“The court order means you should revert back to what was in place before the matter came on board.

“The money you are spending to hire lawyers is tax payers money. We appropriate this money and we oversight what they are used.”

NERC representatives at the hearing had attempted to kick against the committee’s directive but the chairman ruled that his decision stands.

The committee subsequently went into an executive session with NERC, distribution companies and the officials of the ministry of finance present.


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