Lawmakers Probe CBN, DisCos Over Disbursed Mass Metering Funds

The House of Representatives is set to investigate the funds disbursed to the Licensed Electricity Distribution Companies (DisCos) by the Central Bank of Nigeria (CBN) as loans under the National Mass Metering Programme (NMMP).

This was as the House adopted a motion moved by Hon. Uchenna Harris Okonkwo (LP, Anambra) at plenary on Thursday who said the programme launched by the federal government through CBN to provide funds as loans to the licensed DisCos to improve customers metering and eliminate estimated billing.

The lawmaker noted that the programme aimed 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.

He expressed concern 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.

“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.”

Adopting the motion, the House urged CBN to provide a detailed report on the implementation of the National Mass Metering Programme, including the number of loans disbursed, the amount disbursed, and the status of the loans, to the House of Representatives.