A forensic audit will be carried out on the bank accounts of electricity distribution companies, DISCOs, in Nigeria to determine the solvency and capacity to deliver on their mandate. This was one of the outcomes of Thursday’s meeting of the National Economic Council, NEC, presided over by Vice President Yemi Osinbajo. Deputy Governor of Edo State, Philip Shuaib, who briefed the media after the meeting, said that the sub-committee of the council headed by Kaduna State governor, Nasir El-Rufai to review the status of ownership of the distribution companies, presented a report on the progress made so far on responses received from the public.
Speaking with reporters at the end of the meeting, Philip Shaibu, deputy governor of Edo state, said governors were asked to submit details of their investment in the DisCos from 2013 till date. According to Shuiab, the El-Rufai committee also asked state governments to provide details of their investments in the electricity distribution companies since they took over in 2013.
“The committee also sought approval of NEC for additional time to complete the report in two months and also the statement to file report investments in DISCOS. “I think the purpose of asking for an additional two months is to ascertain the level of investment by these discos. The issue of the privatization is one thing that is questionable,” Shuiab said.
Governor of Ebonyi State, David Umahi, who was also at the briefing, said that the El-Rufai Committee had called for memoranda from Nigerians on the operations of the DISCOS. Umahi said: “The governors are requested to before the end of March submit all their investments from 2013 to date so that we will get it all together and the electric authority will stamp our claims.
“The FG is taking the bull by the horn by trying to find out what investments these discos have made in the privatization. “The first suspicion is that they have not made any substantial investment.” He said all issues concerning the performances of the DISCO’S would be taken up when the NEC get all the submissions from stakeholders.
