By Peter Jatau, Abuja
The House of Representatives Committee on the Non-Utilisation of Take-Off Grants and Bailout Fund Interventions has queried the Kaduna Electricity Distribution Company over the deployment of funds received from the Central Bank of Nigeria (CBN).
At a session held yesterday at the National Assembly Complex in Abuja, the committee, chaired by Hon. Chinedu Emeka Martins, demanded a comprehensive breakdown of how the company utilised the intervention funds. Key areas of focus included revenue generation, billing practices, remittances, operational and capital expenditures, vendor agreements, as well as borrowing and repayment details.
Hon. Martins stressed that the aim of the investigation was not to witch-hunt the company but to ensure transparency and accountability in the use of public funds.
“We are not here to blame anyone. This is about understanding how public resources were managed. Nigerians deserve to know how their money was spent,” he stated.
The committee requested specific documents from the company, including:
- A detailed report on the consumer metering process, including costs and phases.
- A breakdown of billing systems for various consumer categories such as post-paid, commercial, and residential customers.
- Documentation of agreements with vendors, including offer and acceptance letters.
- Information on corporate social responsibility initiatives.
- Details of personnel management costs, banking transactions, and key performance indicators (KPIs) used to monitor financial operations and prevent leakages.
Responding to the inquiries, Mr. Solomon Ochodiomehe, Director of Finance at Kaduna Electricity Company, admitted that he was unable to present all the requested documentation at the time. He revealed that the company had accessed four funding facilities from the CBN, including a first-line charge, to support operations under a ten-year business model, with procurement overseen by the Nigerian Electricity Supply Industry (NESI) through NEK.
Ochodiomehe appealed for a two-week extension to compile and submit the necessary documents, but the committee granted a ten-day deadline.
The House Committee is expected to reconvene after the deadline to assess the submissions and continue its oversight function.
