Reps To Probe CBN, DISCOs Over National Mass Metering Programme

•scheme allegedly pave way for corruption, diversion, misappropriation of public resources.

The House of Representatives on Thursday resolved to investigate the multi-billion naira disbursed to the Licensed Electricity Distribution Companies by the Central Bank of Nigeria (CBN) as loans under the National Mass Metering Programme.

The resolution was passed sequel to the adoption of a motion sponsored by Hon. Uchenna Okonkwo, who underscored the need for all the Institutions to take account of their stewardship on the utilisation of public funds.

In his lead debate, Hon. Okonkwo observed that the National Mass Metering Program (NMMP) was launched by the Federal Government of Nigeria through the Central Bank of Nigeria (CBN) to provide funds as loans to the licensed Electricity Distribution Companies (DisCos) to improve customers metering and eliminate estimated billing.

“The House also notes that the NMMP aims to reach over 6 million households and businesses with meters before the end of 2021 as part of the power sector reform agenda to promote transparency, accountability, and efficiency in the power sector.

“The House is concerned that there have been reports of discrepancies, mismanagement, and non-compliance with the terms and conditions of the loans disbursed under the NMMP by some DisCos, leading to inefficiencies, underperformance, and failure to achieve the objectives of the NMMP.

“The House is worried at the lack of proper oversight. monitoring and evaluation of funds disbursed under the National Mass Metering Program by the Central Bank of Nigeria, which has created opportunities for corruption, diversion, and misappropriation of public resources,” the lawmaker alleged.

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In the bid to fix the sector, the lawmakers urged the Federal Government to prioritize the implementation of the Power Sector Recovery Program, which provides a roadmap for sustainable power sector reform.

The House also tasked the Central Bank of Nigeria (CBN) to provide a detailed report on the implementation of the National Mass Metering Program (NMMP). including the number of loans disbursed, the amount disbursed, and the status of the loans, to the House of Representatives.

In the same vein, the House called on the Nigerian Electricity Regulatory Commission (NERC) to provide a comprehensive assessment of the performance of the DisCos in metering customers and eliminating estimated billing.

To this end, the House mandated the joint Committees on Power, Banking Regulations, Rural Electrification Agency, Housing and Habitat to investigate the disbursement and use of funds under the NMMP by the CBN, and to ascertain the level of compliance with the terms and conditions of the loans.

The House also mandated the joint Committees on Banking Regulations and Power to investigate: cases of discrepancies, mismanagement. and non-compliance with the terms and conditions of the loans disbursed under the National Mass Metering Program; and the level of oversight, monitoring and evaluation of the use of funds disbursed under the National Mass Metering Program by the Central Bank of Nigeria, and to recommend measures to enhance transparency, accountability, and performance in the National Mass Metering Program and report back within four weeks.