Adedapo Adesanya
By Adedapo Adesanya
The federal government, after the National Economic Council (NEC) monthly meeting on Thursday, has ordered a forensic audit of all electricity distribution companies (Discos) from the privatisation of the power sector in 2013.
Deputy Governor of Edo State, Mr Philip Shuaibu, while briefing State House correspondents at the end of the NEC meeting presided over by Vice President Yemi Osinbajo at the Council Chamber, Presidential Villa, Abuja, explained that the decision to carry out the audit was to determine the level of investments made into the business of power generation and distribution since 2013, following suspicion that the Discos had been holding on to its revenue, while it expected the government to fund their operations.
Mr Shaibu said the committee requested for additional two months for the completion of its assignment after which it will formally report its findings, including the result of the forensic audit to the council.
“The idea of the audit emanated from suspicion that the Discos have failed to invest their own monies into the power sector but only rely on getting money from the federal and state governments in violation of the spirit and letters of privatization,” he said.
He added that state governments, who are also shareholders in the Discos, have been told to provide details of their investments so far.
“NEC also received an update on the review of the status of ownership structure of Discos. The Kaduna State governor briefed NEC on the progress so far made and responses so far received from the general public.
“He also told NEC that they have been carrying out forensic audit of all bank accounts of Discos and also that the state governments should provide details of their investment in Discos.
“The committee also sought the approval of NEC for additional time to complete the report in two months and also the statement to file report of investments in Discos,” he said.
This has since brought reactions from Discos, with the spokesperson, Mr Sunday Oduntan, on Friday expressing dissatisfaction, saying the government has no trust in the companies to be transparent, adding that the companies were operated efficiently.
