House to Probe CBN, Discos on National Mass Metering Programme
According to thisdaylive.com, the House of Representatives has mandated its Committees on Power, Banking Regulations, Rural Electrification Agency, Housing and Habitat, to investigate the disbursement and use of funds under the National Mass Metering Programme (NMMP) by the Central Bank of Nigeria (CBN), and to ascertain the level of compliance with the terms and conditions of the loans.
The House also urged the federal government to prioritise the implementation of the Power Sector Recovery Programme, which provides a roadmap for sustainable power sector reform.
The lawmakers also urged the CBN to provide a detailed report on the implementation of the NMMP, including the number of loans disbursed, the amount disbursed, and the status of the loans.
It urged the Nigerian Electricity Regulatory Commission (NERC) to provide a comprehensive assessment of the performance of the Discos in metering customers and eliminating estimated billing.
The resolutions followed the adoption of a motion on the need to investigate the funds disbursed to the licensed electricity Discos by the CBN as loans under the NMMP moved by Hon. Uchenna Okonkwo yesterday.
Okonkwo noted that the NMMP was launched by the federal government through the CBN to provide funds as loans to the licensed Discos to improve customers metering and eliminate estimated billing.
“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.
“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.
“We are worried by the lack of proper oversight, monitoring and evaluation of funds disbursed under the NMMP by the CBN, which has created opportunities for corruption, diversion, and misappropriation of public resources,” it stated.
The House however mandated its 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 programme.
It is also expected to look at the level of oversight, monitoring, and evaluation of the use of funds disbursed under the programme by the bank and to recommend measures to enhance transparency, accountability, and performance and report back within four weeks.
