Ayobami Adekunle writes that the NDPHC has outlived its usefulness
The federal government incorporated the Niger Delta Power Holding Company Limited (NDPHC) as a limited liability company owned by the three tiers of government -FGN, states, and local government areas to serve as the legal vehicle to intervene in the power sector through direct provision of infrastructural facilities to bring immediate remedy to the power supply gap in the country. This included the establishment of generation facilities in order to reduce the power deficit as well as the provision of evacuation and distribution facilities to aid the process of stabilising the power supply value chain.
The court adjourned till July 13, for hearing of the motion on notice.
by SaharaReporters, New York
Jul 08, 2021
A Federal High Court sitting in Lagos has restrained Integrated Energy Distribution and Marketing Company Ltd and Polaris Bank from tampering, howsoever, with funds standing to their credit up to $6,759,000 (about N2.8 billion) or its equivalent in any currency in 25 banks, the Debt Management Office and Federal Ministry of Finance.
Justice Daniel Osiaigor, who made the interim order of Mareva Injunction, held that it subsists pending the hearing and determination of a motion on notice filed against the duo by the United Bank for Africa (UBA).
United Bank For Africa Sues Energy Firm, Polaris Bank Over N2 8 Trillion saharareporters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saharareporters.com Daily Mail and Mail on Sunday newspapers.
How relevant is NDPHC in current power dispensation? The Punch
Published 6 July 2021
The Federal Government incorporated the Niger Delta Power Holding Company Limited as a limited liability company owned by the three tiers of government in Nigeria, namely, the Federal Government, states, and local government areas, to serve as the legal vehicle to intervene in the power sector through direct provision of infrastructure facilities to bring an immediate remedy to the power supply gap being experienced in the country. This included the establishment of generation facilities in order to reduce the power deficit as well as the provision of evacuation and distribution facilities to aid the process of stabilising the power supply value chain.
NGO Raises Alarm Over New Scheme Employed By EEDC To Defraud Electricity Consumers In South East Nigeria africanexaminer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from africanexaminer.com Daily Mail and Mail on Sunday newspapers.