BEDC board intact, not dissolved – Official

Management of the Benin Electricity Distribution Company (BEDC) has described as “untrue” media report which claimed that the federal government had dissolved the DisCo’s board over alleged poor power supply.

The acting head, corporate affairs of the company, Mrs. Evelyn Gbiwen, in a statement Friday also labelled the report as “fake.”

“Since the publication, we have been inundated with inquiries from concerned internal and external stakeholders seeking further information.

“The current Board and Management remain intact and are fully committed to the success and growth of BEDC,” the statement read in part.

The statement noted that the current Board of Directors working with the Lender Banks remained committed to its mandate of facilitating the divestment of 60 percent shares of the company to investors within the shortest time.

It enjoined all staff to remain steadfast in their duties and continue to give their best efforts to drive the growth and success of BEDC Electricity, adding that “the media report is entirely false and baseless.”

She added that the company had achieved significant efforts in various aspects of operations through collective commitment since the inception of the current Board in July 2022.

The spokesperson noted that the BEDC management had increased collection of revenue from N4.9 billion as at July 2022 to over N7.6 billion as of February 2024, with significant reduction in aggregate technical, commercial and Collection loss