OrderPaperToday – The Nigerian Electricity Regulatory Commission (NERC) has risen to the defence of the Managing Director (MD) of the Nigeria Bulk Electricity Trading Plc (NBET), Marilyn Amobi following a LeaksNG report in February that revealed how the NBET boss fraudulently paid at least N2billion to two power generating companies – Olorunsogo and Omotosho power plants.
In a statement, NERC said there is no proof that Amobi, overpaid the two power plants by N2 billion.
The Commission said its investigation showed that the payments to Olorunsogo and Omotosho power plants by NBET are in line with the power purchase agreement, while the allegation of fraud raised by the petitioners (Waziri Bintube and Abdullahi Sambo) could not be substantiated.
According to the statement, “the Commission initiated the conduct of an investigation of the alleged N2B illion overpayment by NBET to Olorunsogo and Omotosho power plants pursuant to the powers of the regulator to approve Power Purchase Agreements NBET executes with generation companies and the imperative to maintain the integrity of the electricity market.
“In conducting the investigation, the Commission interviewed top management of NBET who are involved with the management of PPAs, as well as the petitioners, Mallam Waziri Bintube and Mallam Abdullahi Sambo over a period of two days.
“The findings of the Commission’s investigation are as follows. Payments made by NBET to the 2 power plants were done in compliance with the NERC TEM Order pursuant to the provision that sanctity of existing agreements be maintained.
“Mallam Waziri Bintube and Mallam Abdullahi Sambo were unable to substantiate any claims of over-invoicing to the tune of N2Billion each month by NBET in the payments to these 2 power plants constituted a crime during their interviews; and could also not provide further evidence to substantiate any form of inappropriate payments being made to these two power plants as they had alleged.
“The Commission hereby confirms that capacity payments to the Olorunsogo and Omotosho power plants by NBET are in line with the Power Purchase Agreement executed between the contracting parties and the provisions of the Supplementary TEM Order by the Commission. The public is therefore advised to discountenance the allegations of inappropriate payments to the Omotosho and Olorunsogo power plants through the reported over-invoicing of N2Billion in the payment of monthly capacity charges by NBET.”
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