“After the hearing, a 14-business day notice was issued on March 21 in three national daily newspapers as required by the market rules. Thereafter, a suspension order was issued on April 19, which required APLE to cure its defaults,” she said.She added that this order resulted in the disconnection of the Feeders within the APLE franchise area until such a time that they provide the required bank guarantee and settle their outstanding invoices with the MO.
She said that both companies were sent a request for their bank guarantees in line with the market rules, on Feb. 16, 2022, and they failed to provide the required bank guarantees. Mbah stated that the notice of the event was followed by a notice of intent to issue a suspension order, issued on May 9, 2022.
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Source: GuardianNigeria - 🏆 1. / 94 Read more »