Reps summon CBN, DISCOs, contractors over alleged misuse of $321m loans
The House of Representatives Public Accounts Committee has summoned the Central Bank of Nigeria (CBN) and 11 Electricity Distribution Companies (DISCOs) in connection with alleged mismanagement of the US$321 million and N18.2 billion loans.
The loans were designated for accelerated transmission and distribution interface, lines, and substation projects.
Rep. Bamidele Salam, Chairman of the Committee, issued the summons during the appearance of Engr. Sule Abdulaziz, Managing Director, Transmission Company of Nigeria (TCN), before the committee in Abuja on Thursday.
These entities were asked to appear before the committee on November 8.
The investigation was prompted by a petition regarding the alleged misuse of funds, which had been disbursed to the DISCOs by the CBN at the request of the TCN.
Reps summon CBN, DISCOs, contractors over alleged misuse of $321m loans
The House of Representatives Public Accounts Committee has summoned the Central Bank of Nigeria (CBN) and 11 Electricity Distribution Companies (DISCOs) in connection with alleged mismanagement of the US$321 million and N18.2 billion loans.
The loans were designated for accelerated transmission and distribution interface, lines, and substation projects.
Rep. Bamidele Salam, Chairman of the Committee, issued the summons during the appearance of Engr. Sule Abdulaziz, Managing Director, Transmission Company of Nigeria (TCN), before the committee in Abuja on Thursday.
These entities were asked to appear before the committee on November 8.
The investigation was prompted by a petition regarding the alleged misuse of funds, which had been disbursed to the DISCOs by the CBN at the request of the TCN.
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