Members of the House of Representatives adhoc committee probing the excessive electricity charges being levied on Nigerian consumers by Electricity Distribution Companies, DISCOs, on Wednesday told stakeholders that the power distribution operators in Nigeria were fraudsters.

This is just as the apex bank, the Central Bank of Nigeria, CBN, revealed at a one day investigative hearing organised by the adhoc committee chaired by Rep Ajibola Israel Famurewa that there is no record of metered customers and estimated billed customers.

According to the apex bank, this is despite the disbursement of over N488 billion with an interest rate of 10% as against the market rate of 23% to the DISCOs.

Also, the Speaker of the House, Yakubu Dogara, in his remarks noted that “the House will soon pass a Bill criminalising estimated billing by electricity distribution companies.”

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