Nigeria: TCN, Kano DisCo Trade Blame Over Debt

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The Transmission Company of Nigeria on Monday said it was not indebted to Kano Electricity Distribution Company.

It also stated that the claim by KEDCO that the TCN flouted the power market rules was false, adding that the transmission company did not suspend only Kano Disco when it carried out the suspension of defaulting entities in the sector.

In a statement issued in Abuja, the transmission company said, “While the TCN would not want to join issues with KEDCO since KEDCO had taken the TCN to court; it is constrained to note that KEDCO is deliberately misinforming the public on the true facts of the matter.

“It is important to state that KEDCO was never singled out for suspension, but was sanctioned alongside Port-Harcourt, Ikeja, Enugu and Eko Discos who have all paid their debts, except KEDCO.”

TCN stated that as of May 2019, shortly before the Market Operator started enforcing 100 per cent payment of Service Providers Invoices, KEDCO owed the service providers the sum of N23bn and the Disco intentionally left this out in its narratives.

“Just as it intentionally leaves out the fact that as of 2015, it owed the service provider a total of N8.27bn even as it claims that it is being owed N3.2bn,” the TCN stated.

It added, “The so-called imbalance of N3.2bn is an outstanding on them from the market. The TCN is not indebted to KEDCO.”

The transmission company stated that from February 2015 to December 2015, KEDCO refused to pay for any of its service provider invoices despite the fact that it was collecting money belonging to the entire market from electricity consumers within its franchise area.

The TCN stated that the pattern of indebtedness and flagrant disregard for rules continued to increase the company’s indebtedness over the years.

Authored By: Okechukwu Nnodim

SOURCE: PUNCH

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