Reps panel moves to recover alleged N4.014 trillion electricity consumers’ debt

House of Representatives Committee on Public Accounts, yesterday, resolved to beam its searchlights on Nigerian Bulk Electricity Trading (NBET) Plc over N4.014 trillion debt allegedly owed by some international electricity customers.

The committee, led by Mr. Wole Oke, therefore, summoned NBET’s Managing Director to offer explanations on why customers situated in neighbouring Togo, Benin and Niger Republics have not lived up to their responsibility.
The committee directed that the NBET chief should appear in person, on Thursday, alongside Dr. Marilyn Amobi, who served as Managing Director/Chief Executive Officer from 2016 to 2020, to justify reason for non-rendition of audited accounts for the years: 2014, 2015, 2016, 2017, 2018 and 2019.

The resolution was contained in a letter titled: ‘Re-consideration of Auditor General for the Federation Reports’, dated November 30, 2022, with Ref. No: HR/PAC/SCOS/9NASS/QUE.64/48, signed by Oke (PDP, Osun).

The letter reads: “The committee is in receipt of your correspondence and has reviewed your 2017-2019 audited accounts and resolved to request the following additional information/documents to enable the committee carry out its legislative mandate:
“Indebtedness of International Customers (Republic of Benin, Togo and Niger to NBET and TCN from 2018 to 2022).
“External auditor’s report showed that the Nigeria has international bilateral agreement on electricity energy delivery and sales with Republic of Benin, Togo and Niger. Prior to electricity transitional arrangement, these agreements were administered by TCN of Nigeria.

“However, the Ministry of Power on March 15, 2016, directed that the administration of these international customers should be transferred to NBET. Moreover, before this can take place, certain agreements and negotiations have to be made, and this accounted for the reason why TCN and NBET came up with a sharing formula to be used to split payment from international customers, since TCN issued a single invoice for both administrative charges and energy payments.”