By Milcah Tanimu

The Benin Electricity Distribution Company (BEDC) management clarified on Thursday that both the management and board of the company are fully intact and not dissolved, contrary to circulating speculations.

Evelyn Gbiwen, the acting Head of Corporate Affairs at BEDC, conveyed this in a statement issued to the press in Benin.

Addressing the misinformation, the statement emphasized, “BEDC management’s attention has been drawn to the fake news publication in some national dailies with the caption, ‘Poor Power Supply: FG Moves to take over BEDC, Sack Management.’ Since the publication, we have been inundated with inquiries from concerned internal and external stakeholders seeking further information.”

The management reiterated that the news is entirely false and unfounded, affirming the continuity of the current board and management, dedicated to the success and advancement of BEDC.

Highlighting achievements under the current board since July 2022, the statement underscored significant milestones in various operational aspects. Revenue collection increased from N4.9 billion as of July 2022 to over N7.6 billion by February 2024, accompanied by a notable reduction in aggregate technical, commercial, and collection losses.

The statement attributed these accomplishments to the collective efforts and commitment of BEDC’s management and staff. It also highlighted management’s decisions to implement salary increments, promotions, and other incentives to motivate the workforce.

Additionally, the current Board of Directors, in collaboration with Lender Banks, remains steadfast in facilitating the divestment of 60% shares of the company to investors, ensuring optimal operations while adhering to its mandate.

In conclusion, the statement urged all BEDC staff to remain dedicated to their duties and continue contributing their utmost efforts to foster the growth and prosperity of BEDC Electricity Plc.