NBET gets new MD as Buhari approves Amobi’s removal

President Muhammadu Buhari has approved the removal of Dr Marilyn Amobi as Managing Director (MD), Nigerian Bulk Electricity Trading Plc (NBET), to be replaced by Dr Nnaemeka Eweluka.

The Minister of Power, Saleh Mamman, made the announcement in a statement issued by his media aide, Aaron Artimas on Monday.

Amobi was directed to hand over to her successor and proceed on terminal leave with immediate effect.

The minister said the appointment has been approved by the President.

“In furtherance of the reorganisation/realignments in the power sector, the Honourable Minister of Power, Sale Mamman announces the appointment of a new managing director for the Nigerian Bulk Electricity Trading, Plc.

“He is to succeed Dr Marilyn Amobi, as substantive Managing Director/CEO.

“President Muhammadu Buhari had earlier approved the recommendation to this effect,” the statement read.

Until his appointment, Dr Eweluka, was the company’s General Counsel and Secretary

The statement described the new MD as a lawyer with over 20 years’ experience, spanning private practice, academics and the power sector.

“He is a specialist on privatisation and legal energy reforms, as well as a member of the Chartered Institute of Arbitration,” it added.

The House of Representatives is currently investigating the agency and Amobi for alleged corruption.

The allegations range from abuse of office and flouting of the Public Procurement Act (PPA) on awarded contracts.

Investigation on NBET and Amobi has been on-going since 2019 when the House initially commenced probe against the agency and its head over alleged N90 billion fraud and flouting of the procurement law.

Some of the suspected fraudulent actions include overpayment to selected power generating companies – Olorunsogo and Omotosho power generating companies, undue payment to law firms and consultants

The minister had in December 2019 suspended Amobi but was later reinstated by the President.

 

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