The House of Representatives has summoned the Central Bank of Nigeria (CBN), 11 electricity distribution companies (DisCos) and contractors over $321 million
and N18.2 billion loans for the accelerated electricity transmission distribution interface, lines and substation projects
The TCN Boss, Abdulaziz who told the Committee that the funds were paid directly to the DISCOs by the CBN to embark on the various projects, said the repayment of the loans was from the revenue of the company. “Our concern is to ensure that all our institutions work well in accordance with the law and in accordance with global best practices and to ensure money is judiciously utilised.”
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