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Reps to investigate CBN mass metering loans to DISCOs

The House of Representatives has mandated its Committees on Power, Banking Regulations, Rural Electrification Agency, Housing and Habitat, to investigate the disbursement and use of…

The House of Representatives has mandated its Committees on Power, Banking Regulations, Rural Electrification Agency, Housing and Habitat, to investigate the disbursement and use of funds under the National Mass Metering Program (NMMP) by the Central Bank of Nigeria (CBN) to the Licensed Electricity Distribution Companies (DISCOs).

This followed the adoption of a motion moved by Rep. Uchenna Harris Okonkwo at the plenary on Thursday.

The committees are to ascertain the level of compliance with the terms and conditions of the loans.

Presenting the motion, he said the National Mass Metering Program (NMMP) was launched by the Federal Government through the CBN to provide funds as loans to the licensed DisCos to improve customer metering and eliminate estimated billing.

Rep.Okonkwo noted that the lack of proper oversight, monitoring and evaluation of funds disbursed under the National Mass Metering Program by the CBN has created opportunities for corruption, diversion, and misappropriation of public resources.

The House after adopting the motion also  urged the CBN  to  provide  a  detailed  report  on  the implementation of the NMMP, including the number of loans  disbursed,  the  amount  disbursed,  and  the  status  of the  loans.

It further  urged  the  Nigerian  Electricity  Regulatory  Commission  (NERC)  to  provide  a comprehensive assessment of the performance of the DisCos in metering customers and eliminating estimated billing.

 

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