Aned GENCO books

ANED Challenges GenCos To Open Their Books & Prove Their Innocence

Recently an allegation was made against the power generating companies (GenCo) in Nigeria of working with the National Bulk Electricity Trader (NBET) to inflates invoices for the distribution company. This allegation which the GenCos deny has left a cloud of suspicion around the GenCos and the bulk trader.

The Association of Nigerian Electricity Distributors (ANED) has, however, called on the GenCos, to make public their accounting records to prove they are innocent of inflating the DisCos’ invoices.

According to the Director of ANED, Sunday Oduntan, the allegation against the GenCos did not emanate from him hence, he does not have evidence to back it up. However, he added that the DisCos have noticed a hike in their invoices recently.

After catching wind of the accusation, Mr Sunday Oduntan called on the Federal Government to investigate the matter.

“ANED did not accuse GenCos of inflating invoices. I was asked whether or not I knew about it by a journalist in Abuja. I also did not know until that day and I said if the allegation was true, then the federal government should investigate because we also noticed that our invoices have been going up lately,” he said.

He also expressed his frustration with the fact that the DisCos were always blamed by the general public for the problems in the power sector.

“It doesn’t make sense for the DisCos to always be accused of everything when some people were busy making serious money from over-invoicing,” he said.

He then called on the GenCos to release their books if truly they are not guilty of the allegations that have been laid against them.

“Since they have been accused of such, the best thing they could do is to invite FG to investigate their accounting books. I would give you evidence if we were the source of the allegation but we were not. I am from Abeokuta and we don’t lie. Go and Google my name. Go to Youtube and you will see my stories. I talk whenever I see anything wrong and heaven will not fall over it,” he said.

The GenCos compliance to this call may actually help shed more light on a lot of issues in the sector aside efrom this allegation.

Busayo Oladejo

Passionate about Information technology, Project management and Social media.

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