I don’t own shares in Kaduna Electricity Company – Former VP, Sambo

Former Vice President, Namadi Sambo, has described as ‘total falsehood and fallacy’ a story linking him to ownership of Kaduna Electric Power Distribution Company of Nigeria (KAEDCO).

In a statement personally signed by Mr Sambo and made available to PREMIUM TIMES by his media aide, Ahmed Maiyaki, he denied any links with the firm.

“My attention has been drawn to an online article published by Daily Post on a query issued by the Nigerian Electricity Regulatory Commission to the Power Distribution Companies. The story alleged that l own Kaduna Electric Power Distribution Company of Nigeria (KAEDCO) through a proxy.

“l wish to state unequivocally that the story is totally untrue, malicious and unfounded. The story is aimed at bringing my reputation to disrepute. For the records, I do not own a single share in the company or any of the public privatised companies under my watch either directly or through a proxy,” Mr Sambo said.

Also, Mr Sambo said, “As the Chairman of the Privatisation Council and indeed as a public servant, l discharged my duties responsibly in accordance with laid down rules and procedures and in the interest of the nation.”

The statement also quoted Mr Sambo as demanding a rebuttal of the story and public apology by the “authors and publishers of the story within one week.”

“I demand an unreserved apology from the authors and publishers of the injurious story within one week,” Mr Sambo said.

Mr Sambo urged the media to desist from propagating fake and unsubstantiated news while ensuring professionalism at all times.

Read also: DISCOs express reservation about Nigerian govt’s reported plan to repossess electricity firms

PREMIUM TIMES reported how the Nigerian Electricity Regulatory Commission (NERC) on Wednesday served notices to eight electricity distribution companies (DISCOs) of its intention to revoke their operational licences if they fail within 60 days to remedy alleged ‘breaches of the terms and conditions of their power purchase agreements’.

The affected DISCOs include the Abuja Electricity Distribution Company Plc (AEDC), Benin Electricity Distribution Company Plc (BEDC), Enugu Electricity Distribution Company Plc (EEDC) and Ikeja Electric Plc (IE).

The others are KAEDCO, Kano Electricity Distribution Company Plc (KEDCO), Port Harcourt Electricity Distribution Company Plc (PHEDC) and Yola Electricity Distribution Company Plc (YEDC).