Kano Disco Faults TCN on N8.2bn Debt

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Ibrahim Shuaibu in Kano
The Kano Electricity Distribution Plc (KEDCO) has rebuffed claims by the Transmission Company of Nigeria (TCN) that it owes N8.2 billion as arrears for energy wheeled to it in 2016.

It also informed that after amicable reconciliation by the Nigerian Electricity Regulatory Commission (NERC) over issues of wrong meter reading and imbalances in the energy wheeled to KEDCO, TCN had been directed to compensate the firm.

However, Kano Disco advised TCN to rectify its records on the reconciled figures where the Nigerian Electricity Regulatory Commission (NERC) directed it to compensate KEDCO for the shortfalls on its eight percent statutory power allocation and wrong meter readings.

Reacting to media reports in some national dallies, KEDCO’s spokesperson, Mohammed Kandi said the TCN was yet to comply with NERC’s separate directives that it should reimburse Kano Disco N2, 390, 310, 793. 33 for its inability to transmit 8 percent of the total daily power generation, and N858…million for wrong meter reading respectively.

Kandi quoted the company’s Chief Finance Officer (CFO), Tasiu Ahmad Tijjani as saying: “After two years of protracted effort in getting compensation for the deficits from the imbalances in the energy wheeled to our company, it was finally ruled in our favour that TCN should compensate us.”

The CFO said with the N3.2 billion difference, it would be incorrect to indicate that our company’s debt profile was N8.2 billion.