Tuesday, September 25, 2018
Advertisement

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
Advertisement

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.

RECEIVE ALERTS FROM THECABLE

BBM CHANNEL C0038F78B
WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2018 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Tags
Advertisement

Social Comments

0 Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement

Exchange Rates

September 24, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
Advertisement
Advertisement