The Federal Government is set to recoup its
outstanding money from debtor power
distribution companies by calling on their bank
guarantees.
Sources at the Federal Ministry of Power and the
Nigerian Bulk Electricity Trading Company Plc
(NBET)said that the Federal Government had
through the NBET written to the Discos and their
various banks notifying them of the intention to
call on their respective bank guarantees.
The Federal Government had ordered the power
distribution firms to remit the outstanding
amounts for capacity and energy invoiced
against them since February before the close of
business on July 24, 2015.
But two weeks after the expiration of the
ultimatum, the affected power distribution
companies have yet to comply with the directive.
outstanding money from debtor power
distribution companies by calling on their bank
guarantees.
Sources at the Federal Ministry of Power and the
Nigerian Bulk Electricity Trading Company Plc
(NBET)said that the Federal Government had
through the NBET written to the Discos and their
various banks notifying them of the intention to
call on their respective bank guarantees.
The Federal Government had ordered the power
distribution firms to remit the outstanding
amounts for capacity and energy invoiced
against them since February before the close of
business on July 24, 2015.
But two weeks after the expiration of the
ultimatum, the affected power distribution
companies have yet to comply with the directive.
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