Report of board dissolution is fake news - BEDC

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By Jethro Ibileke

The BEDC Electricity Plc has debunked reports claiming that the Management and Board of electricity distribution company has been dissolved.

The management of BEDC in a statement on Thursday, through its acting Head, Cooperate Affairs, Evelyn Gbiwen, described the speculation in public space as “fake news”.

The statement read:”BEDC Management’s attention has been drawn to the fake news publication in Vanguard newspaper dated March 25, 2024 with the caption ‘Poor Power Supply: FG Moves to take over BEDC, Sack Management’.

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

“Management hereby assures all staff that the news is entirely false and baseless as the current Board and Management remain intact and are fully committed to the success and growth of BEDC Electricity Plc.

“Through collective efforts and commitment, the company has achieved significant milestones since the inception of the current Board in July 2022 in various aspects of operations.”

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The BEDC management further noted that it has increase collection of revenue from N4.9 billion as at July 2022 to over N7.6 billion as at February 2024, with significant reduction in aggregate technical, commercial and collection loss.

“This achievement is a testament to the hardwork and dedication of the entire management and staff of BEDC.

“It justifies Management’s decision to embark on salary increment as well as promotion of deserving staff and other forms of incentives to the workforce in the past months.

“The current Board of Directors working with the Lender Banks remain committed to its mandate of facilitating the divestment of 60 percent shares of the company to investors within the shortest time while ensuring optimal operations,” the statement added.

The BEDC Electricity Plc management therefore enjoined its staff members to remain steadfast in their duties and should continue giving their best efforts to drive the growth and success of the company.



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