$321m, N18.2bn Loans: Lawmakers Summon CBN, Electricity Distribution Companies, Others

  • 📰 LeadershipNGA
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 77%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The House of Representatives has summoned the Central Bank of Nigeria (CBN), 11 electricity distribution companies (DisCos) and contractors over $321 million

and N18.2 billion loans for the accelerated electricity transmission distribution interface, lines and substation projects

The TCN Boss, Abdulaziz who told the Committee that the funds were paid directly to the DISCOs by the CBN to embark on the various projects, said the repayment of the loans was from the revenue of the company. “Our concern is to ensure that all our institutions work well in accordance with the law and in accordance with global best practices and to ensure money is judiciously utilised.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines