Abuja Disco Seeks Technical But Smart Way To Boost Investment


The new Managing Director of Abuja Electricity Distribution Company (AEDC), Mr Ernest Mupwaya has solicited authorization from the Minister of Power, Works and Housing, Babatunde Fashola to utilize a segment of MDA debts as collateral for a Letter of Credit (LC) with the Nigerian Bulk Electricity Trading Plc (NBET), as reported by Daily Trust.

He said that since the Disco couldn’t post a LC with NBET, it couldn’t profit by the Central Bank of Nigeria’s (CBN) power fund to support its investments. He subsequently requested the minister’s ‘No Objection’ to utilize a part of the MDAs debts as insurance for the LC, in order to support the Disco’s credit to qualify it for the CBN fund.


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