EEDC speaks on suspension as market participant - Daily Post Nigeria

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EEDC speaks on suspension as market participant

It, therefore, urged the Transmission Company of Nigeria to vacate and retract the suspension.

DAILY POST reports that the TCN had on June 25 announced the suspension of EEDC as market participant, citing breach of “Market Rules 15.3.3”, which refers to non remittance of “Security Cover” for three consecutive months. He said that EEDC had already written TCN informing her off the challenges it was facing in meeting the deadline and intimating it of fresh arrangements to procure and deliver to MO the Security Cover before the end of June.

“Surprisingly, your office issued simultaneously a Notice of Default and another letter informing EEDC that it has been sanctioned for N7,500,000.00 under Level 4 of offender of the Market Rules 2014. A third letter was sent informing EEDC of our right request for hearing on this matter under the same Market Rules.”

 

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