BEDC debunks board dissolution rumours

The Management of Benin Electricity Distribution Company (BEDC), Plc. on Thursday described as fake, the reports making the rounds that the Management and Board of the electricity distribution company had been dissolved.

A statement endorsed by Evelyn Gbiwen, acting Head, Corporate Affairs, BEDC, said that the report was not just false, but was equally baseless, assuring that the current Board of the company remained committed to the growth and success of the company.

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

ALSO READ: Edo 2024: LP’s Akpata meets Peter Obi ahead September poll

The text of the statement reads “BEDC Management’s attention has been drawn to the fake news publication in Vanguard newspaper dated March 25,2024 with the caption “Poor Power Supply: FG Moves to take over BEDC, Sack Management.

“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 operation”, the statement said.

“This achievement is 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 remains 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,” the statement added.

The statement enjoined all staff to remain steadfast in their duties and continue giving their best efforts to drive the growth and success of BEDC Plc.