BEDC refutes reports of dissolution of board

The Management of Benin Electricity Distribution Company (BEDC) Plc has refuted reports that the Federal Government has dissolved the board of yhe organisation.
DAILY POST reports that the management of the power distribution company refuted the report on Thursday in a statement made available to newsmen in Benin City.

The statement signed by Evelyn Gbiwen, the acting Head, Cooperate Affairs of the company, described the reports as fake.
“Since the publication, we have been inundated with inquiries from concerned internal and external stakeholders seeking further information.

“Management hereby assures all staff that the news is entirely false and baseless as the current Board and Management remain intact and are fully committed to the success and growth of BEDC Electricity Plc.

“Through collective efforts and commitment, the company has achieved significant milestones since the inception of the current Board in July 2022 in various aspects of operations,” she said.

She added that the BEDC management had increased revenue generation from N4.9 billion as at July 2022 to over N7.6 billion as at February 2024 with significant reduction in aggregate technical, commercial and collection losses.

Gbiwen opined that the achievement was a testament to the hardwork and dedication of the entire management and staff of BEDC.

“It justifies Management’s decision to embark on salary increment as well as promotion of deserving staff and other forms of incentives to the workforce in the past months.

“The current Board of Directors working with the Lender Banks remain committed to its mandate of facilitating the divestment of 60 percent shares of the company to investors within the shortest time while ensuring optimal operations,” she added.