Members of the House of Representatives ad hoc committee probing the excessive electricity charges being levied on Nigerian consumers by Electricity Distribution Companies (DISCOs) have assured the stakeholders that power distribution operators in Nigeria are fraudsters.
This was on the same day that the Central Bank of Nigeria (CBN) revealed at a one day investigative hearing organised by the ad hoc committee chaired by Rep Ajibola Israel Famurewa that there is no record of metered customers and those whose power consumption are billed on the basis of estimation.
According to the apex bank, this is despite the disbursement of over N488billion with an interest rate of 10% as against the market rate of 23% to the DISCOs. Also, the Speaker of the House, Yakubu Dogara, noted in his remarks that “the House will soon pass a Bill criminalising estimated billing by electricity distribution companies.