NERC sacks Kaduna DisCo’s board over N456bn debt, appoints interim administrator
The administrator was further directed to submit a costed 12-month stabilisation plan within 60 days, covering cash-flow controls, market remittances, collections, metering, energy accounting, loss reduction, service reliability, safety, customer complaints, capital expenditure, procurement, staff obligations and legacy liabilities.
These included evidence of APIL’s capacity to perform in Nigeria, a substantive technical-support proposal for KAEDC’s turnaround, a compliance plan for meeting NERC’s key performance indicators, a credible management team, a credible ATC&C loss-reduction trajectory and plans for bank guarantees in favour of NBET and the relevant market operator.
The Commission imposed restrictions on major financial and corporate decisions by KAEDC during the transition period, including borrowing, disposal or transfer of material assets, related-party transactions, changes to senior management remuneration, appointment or removal of senior officers and alteration of the company’s capital structure.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
