BEDC lost N750m in one month to forceful takeover, says MD

The Managing Director, Benin Electricity Distribution Company (BEDC), Funke Osibodu, yesterday, disclosed that the firm lost N750 million in one month due to what she described as illegal taking over of operations of the company.

Osibodu disclosed this while addressing journalists on her alleged arrest by the police over the leadership tussle in the company.

Osibodu said despite a court order barring Ajagbawa and his group from taking over BEDC, they still brought police from Abuja to obstruct the firm’s operations and tried to arrest her.

“We resumed last week because we have a court injunction against them and during the period of the alleged forceful takeover, BEDC lost N750 million in the collection in one month. The collection went down and if you don’t have money, you can’t purchase power for distribution.”

Speaking on her alleged arrest, she said she was taken to the police headquarters for questioning and that when police discovered the law was on her side, they couldn’t do anything.

“The police who claimed they came from Abuja said I have committed threat to the life of Ajagawa, unlawful restrain and trespass. They invited me to the police headquarters in Benin for questioning.”

Osibodu said: “To date, I have not received any official document from the Bureau of Public Enterprises (BPE) or BEDC board mandating anybody to take over BEDC affairs, but somebody just marched to the office and said, I have been asked to take over. This is not the law.”