National Economic Council orders for forensic audit of electricity distribution companies

The National Economic Council -NEC rose from its monthly meeting with a resolution ordering a forensic audit of electricity distribution companies -Discos since the privatization of the power sector in 2013.

The move is coming barely a week after the federal government had threatened the Discos to improve on their performance or lose their licences.

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Briefing journalists in Abuja after the National Economic Council meeting presided over by Vice President Yemi Osinbajo, the Deputy Governor of Edo State, Philip Shaibu, said the resolution followed the submission of a report by the NEC Committee on Power, chaired by the Governor of Kaduna State, Nasir el-Rufai.

He said the idea behind the audit was to ascertain 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 their own monies, leaving the government with the sole responsibilities of funding their operations.

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.


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