NEC approves forensic audit of DisCos

The National Economic Council (NEC) has approved two months extension for Kaduna state governor Nasir El-Rufai-led Ad-Hoc Committee on the Review of the Ownership Structure of the Electricity Power Distribution Companies.

The Deputy Governor of Edo State, Philip Shaibu, who briefed State House Correspondents on Thursday after the NEC meeting chaired by Vice President Yemi Osinbajo, said the extension request was granted to allow the committee carry out forensic audit of all bank accounts of electricity Distribution Companies (DisCos) in the country.

Shaibu said the request by Governor El-Rufai would also enable state governments to provide details of their investments in DisCos.

Speaking further on the reasons why the committee asked for additional two months, the deputy governor said: “One of those issues was the issue of forensic and to ascertain the level of investment by DisCos. You all know that the issue of privatization is still questionable. But nonetheless, the federal government and governors feel we should not lament; what we should do is to look for solution.

“If government laments, the populace will definitely lose hope. So, they need the additional two months so that when they are reporting to the council, it will be wholistic; so that one council decision will be made to deal with the issue of the DisCos.”

Governor Dave Umahi of Ebonyi state, while reacting to a question that sought to know whether the governors were in support of the reversal of Public-Private Partnership arrangement on electricity investment over poor performance of the DisCos, said: “Of course, nobody is happy with the DisCos performance and we have a committee chaired by the governor of Kaduna state and they have done a very beautiful job.

“They have placed advertisements in about five newspapers and have asked the general public to give them information on performance of these DisCos and also investments made by private individuals and private sectors.

“And also, the governors are requested before the end of March to also submit all their investments from 2013 to date, so that we will get it all together as we were directed by the electricity authority to stamp our claims.

“I think the federal government is trying to take the bull by the horn by trying to find out what investments these DisCos made towards this privatization. The first suspicion is that they have made no substantial investment and we will take it, when we get all the solutions.”