Take Over of BEDC: Foundation Tasks Fidelity Bank on Improved Power Supply.

By Lucky Isibor

Josemaria Escriva Foundation, a non government organisation based in Ekpoma with thematic area in good governance, health, education and accountablility in governance has tasked Fidelity Bank Plc, the new  owners of the Benin Electricity Distribution Company (BEDC) on improved electricity supply to its customers in Edo, Delta and Ekiti States, its areas of operation.

                       DrJude Obasanmi

In a statement by the Foundation and signed by its Chief Responsibility Officer, Dr Jude Obasanmi and made available to Newsmen urged Fidelity Bank to eschew the unwholesome business practices which characterised electricity sales and distribution to customers by the former core investors in BEDC which put Edo State in perpetual darkness while paying exhurbitant bills for power not supplied.

According to the statement, "we welcome Fidelity Bank to the operational areas of BEDC. We urge the new management of the company as now constituted by Fidelity Bank and BPE to take note of the issues that led to the failure of the Funke Osibodu led board of BEDC such as non provision of electricity meter, abitrary bills also known as crazy bills, taxing consumers to contribute money for purchase of spare parts and maintenance of faulty transformers and lines among other unwholesome business practices that placed a lot of burden on electricity consumers in their areas of operation."

The statement also recommended that the Central Bank of Nigeria(CBN), Bureau of Public Procurement (BPE), the National Electricity Regulatory Commission (NERC) and other regulatory agencies  ensure that the sixty percent shares of BEDC being held by Fidelity Bank are eventually sold to members of the public in their area of operation so that it can be runned as a social enterprise so the Board and Management become accountable to electricity consumers in the zone.

The statement also called for the probe of the former management of BEDC for its refusal to honour the loan agreement it entered into with Fidelity Bank inspite of the humogous amount it used all manner of subterfuge to collect from electricity consumers in Edo, Delta and Ekiti States as consumers in the states will now have to start repaying the loan all over again.

The statement further expressed concern over the welfare of the BEDC staff who would be entering into another phase of management. It was obvious that the BEDC staff were faced untold hardship as well as poor working conditions. 

The CRO therefore called for a system that would improve electricity supply as well as keeping the staff well motivated to serve consumers better.