The Central Bank of Nigeria has unveiled sanctions grid to Deposit Money Banks participating in the disbursement of the N213bn Nigeria Electricity Market Stabilisation Facility, popularly called power sector intervention fund. The sanctions were contained in a five-page circular posted on the CBN website on...

ABUJA Electricity Distribution Company, AEDC, has stated that its indebtedness to electricity generating companies, GENCOs, was not deliberate and blamed the development on challenges confronting the power sector. Director, Corporate Services, AEDC, Mr. Abimbola Odubiyi, in an interview in Abuja, attributed the indebtedness to...

• Unable to service N402b debt The improvement in electricity supply in recent times may be short-lived. This has nothing to do with low generation output when the rains stop or the vandalised gas pipelines, which have not been fixed. Rather it is the huge...

•CBN, NBET, huge debts, forex, vandalism blamed for woes •NBET: We’ve paid N186bn •CBN: GENCOs haven’t met conditions for disbursment Nigerian Bulk Electricity Trading Plc, NBET said it has paid N186.7billion to Electricity Generating Companies GENCOs saying it is only owing them about N156 billion. Reacting to the...