Benin Electricity Distribution Company (BEDC) Plc management has denied rumors circulating about the dissolution of the organization’s board by the Federal Government. A statement released by the power distribution company’s management on Thursday in Benin City addressed and dismissed these reports.
The acting Head of Corporate Affairs, Evelyn Gbiwen, signed the statement, denouncing the reports as unfounded. In response to the inquiries flooding in from concerned parties internally and externally post-publication, the management assured all staff that the news is entirely false. The current Board and Management are both intact and fully dedicated to the prosperity and advancement of BEDC Electricity Plc.
According to Gbiwen, under the current Board since July 2022, significant milestones have been achieved across various operational areas. Revenue generation has escalated from N4.9 billion in July 2022 to over N7.6 billion by February 2024, accompanied by a marked decrease in technical, commercial, and collection losses.
She attributed this success to the hard work and commitment of the entire BEDC management and staff. Gbiwen emphasized that this progress validated the recent decision of management to boost salaries, promote deserving staff, and provide other incentives to the workforce.
The existing Board of Directors, in collaboration with Lender Banks, is steadfast in its mission to facilitate the sale of 60 percent of the company’s shares to investors promptly while ensuring optimal operations.