From Tony Osauzo, Benin

The Management of Benin Electricity Distribution Company (BEDC Plc) has debunked reports claiming the dissolution of the Management and Board of the Company is fake, contrary to speculations in the public domain.

The denial is contained in a statement made available to newsmen in Benin by BEDC acting Head, Cooperate Affairs, Evelyn Gbiwen.

The statement said the report published by a national daily on March 25 with the caption “Poor Power Supply: FG Moves to take over BEDC, Sack Management”, is fake news.

“Since the publication, we have been inundated with inquiries from concerned internal and external stakeholders seeking further information.

“Management hereby assures all staff that the news is entirely false and baseless as the current Board and Management remain intact and are fully committed to the success and growth of BEDC Electricity Plc.

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“Through collective efforts and commitment, the company has achieved significant milestones since the inception of the current Board in July 2022 in various aspects of operations,” the statement said.

Besides, BEDC management said it has increased collection of revenue from N4.9 billion as of July 2022 to over N7.6 billion as of February 2024 with a significant reduction in aggregate technical, commercial and Collection loss.

“This achievement is a testament to the hard work and dedication of the entire management and staff of BEDC.

“It justifies Management’s decision to embark on salary increment as well as promotion of deserving staff and other forms of incentives to the workforce in the past months.

“The current Board of Directors working with the Lender Banks remain committed to its mandate of facilitating the divestment of 60 per cent shares of the company to investors within the shortest time while ensuring optimal operations,” the statement added.

The statement enjoined all staff to remain steadfast in their duties and should continue giving their best efforts to drive the growth and success of BEDC Electricity Plc.