http://saharareporters.com/news-page/nigeria%E2%80%99s-first-lady-vice-president-behind-enugu-disco-sale-fiasco

Nigeria’s First Lady, Vice President Behind the Enugu Disco Sale Fiasco
Posted: September 14, 2013 - 23:22


Emeka Offor

By SaharaReporters, New York
Nigeria’s First Lady, Patience Jonathan, as well as Vice President Namadi Sambo, are responsible for the ongoing sordid drama over the sale of the Enugu Electricity Distribution Company (EEDC). In recent months, the sale has pitted Eastern Electric against Interstate Electrics in a fight to a finish, an investigation by SaharaReporters revealed.

A major source in the Presidency disclosed that Mrs. Jonathan is the unseen hand behind the constant bending of rules for Interstate by both the Bureau of Public Enterprises (BPE) and the National Council on Privatization (NCP). The reason for the First Lady’s meddling is that Emeka Offor, leader of the Interstate consortium, has convinced her he would protect her secret business interest in the consortium. Mr. Offor runs Interstate in partnership with the Metropolitan Electricity Authority of Thailand.

Of all 15 preferred bidders for the Power Holding of Nigeria (PHCN) generation and distribution companies for privatization, only Interstate failed to make any payment for the outstanding 75% of the reserved prices by the August 21, 2013, deadline. Yet, the firm managed to pay $93 million last Friday, more than two weeks late.

SaharaReporters learnt that the late payment has polarized the privatization officers. On the one hand, Atedo Peterside, chairman of the NCP technical committee who is also the chairman of the IBTC/Stanbic Bank, has been waging a spirited battle against, on the other hand, Vice President Namadi Sambo, who is chairman of the NCP, and the BPE director general, Benjamin Dikki, a protégé of the vice president. At issue is Mr. Peterside’s insistence on “upholding justice, equity, fairness and the rule of law” in the Enugu Disco sale.

Mr. Offor confided in associates early this week that he had advised Mrs. Jonathan, who hails from Rivers State as Peterside, to put pressure on the NCP technical committee chairman to “take it easy because this is Nigeria, and not America or London.”

Interstate had failed both technical and commercial tests when the consortium’s bids were evaluated, but Vice President Sambo and the Secretary to the Government of the Federation, Anyim Pius Anyim, a very close friend of Mr. Offor’s, compelled the BPE to change the rules for this bidder.

Sam Amadi, an erstwhile activist who now heads the Nigerian Electricity Commission (NERC), publicly defended allowing Interstate to alter their bid document. Mr. Amadi told the media, “we merely changed one decimal in the amount offered by Interstate.”

Both the public and the Eastern Electric, Interstate’s competitor, have been critical of Mr. Sambo and Mr. Dikki for their undue interference in the privatization of the Enugu Disco. But they have naively left out Mrs. Jonathan, failing to realize that she is perhaps Mr. Offor’s most potent tool and an interested party in the outcome.

As if to confirm reports of her interest in Interstate, Mrs. Jonathan’s agents are now working in cahoots with Mr. Offor’s media team unofficially led by a top editor at Thisday.

Since the late 1990s, Mr. Offor has consistently had a close relationship with top Nigerian government officials and their families, but often falls out with them when they leave office.

In the twilight days of its days in office, the Olusegun Obasanjo government in 2006 awarded oil blocs to Mr. Offor’s ERHC company on sweetheart terms, but the former president is now not on speaking terms with the businessman. Mr. Offor tells friends and associates he capitalized on “Obasanjo’s greed to deal with him full-time.”

Mr. Offor’s fight with erstwhile Vice President Atiku Abubakar was even more dramatic. In 2000, the former vice president helped Mr. Offor to win the contract for the Yola-Abuja electricity transmission line for an incredible 10 billion naira, in addition to a power project around Enugu executed under the National Integrated Power Project (NIPP). But two years ago, when Mr. Atiku visited Mr. Offor in his home in Abuja for “settlement” and mentioned specifically the oil blocs in Sao Tome and Principe, with which Nigeria has a Joint Development Zone (JDZ), Mr. Offor came close to physically attacking the ex-vice president with a weapon, according to reliable sources close to Mr. Atiku.

When Mr. Atiku heard this year that Mr. Offor was experiencing a profound business crisis following dry holes which his firm struck in four oil blocs in Sao Tome and Principe at the cost of almost $500 million, he reportedly expressed joy, attributing Mr. Offor’s problem to “nemesis.”

There are other instances of Nigerian businessmen refusing to part with funds kept in trust for government officials when they leave office. Navy Captain Adekunle Lawal died heartbroken shortly after retirement because Clarkson Majomi, the late flamboyant public relations practitioner and publisher of The Mail newspaper, blatantly refused to bring out any money out of the millions of naira he got from Adekunle which the latter looted as a state military governor.

Mr. Offor habitually breaches his shady agreements with serving top government officials offering huge shares of his companies to them. A source close to him stated that Mrs. Jonathan is in for a rude shock if she expects Mr. Offor to honor his financial pledges to her once she and her husband cease to be Nigeria’s First Couple.

We don hear, Thank you Yoruba, Mrs Jonathan dis Mrs Jonathan dat.

Gbawe the liar

This gist should be in the beer parlor section...

BekeeBuAgbara: Gbawe the liar

RUBBISH!
since you can't disprove the message, this is the best you can up with.
you need a better orientation,bro.

talktimi: This gist should be in the beer parlor section...

yeah just like you should be a mod in the recycle bin section!

Wily1Wily: We don hear, Thank you Yoruba, Mrs Jonathan dis Mrs Jonathan dat.

did a yoruba man snatch your wife?

Olugbenger:
RUBBISH!
since you can't disprove the message, this is the best you can up with.
you need a better orientation,bro.

Disprove a generally acknowledged fake report from SR?
Lol.
Who get time for that one?

Fresh Air for the Bank accounts of all the thieves...

And so what?

Olugbenger:
yeah just like you should be a mod in the recycle bin section!

see ya life ? Now you want me to cry because you managed to delicately place a brick where your brain is supposed to be. Smh

Gbawe Don dey copy Beaf style since he graduated from BEAF COLLEGE OF CAMPAIGN STRATEGY, now u see how that guy was important to your training? , ,

This is d kind of men we need in country. If nobody honours dis type agreement they(politician) wil stop overblowing d cöntract.

solomon111: Disprove a generally acknowledged fake report from SR?
Lol.
Who get time for that one?

Na so una disprove during her ill health saga, not until she opened up on her ordeal and you all suffocated in your denials. SR has its own failings but it is more credible than the NTA.

I cant discountenance this report. The same woman told the whole world after 'her resurrection' that some of her friends who acts as her 'Proxy' sold some of her things while she was on sick bed. It shouldn't come as a surprise if she has secret business interest in Offor's company. Several major newspapers also reported that Emeka Offor's Interstate bid could not be cancelled because he had the backing of powerful officials in the Presidency.


http://leadership.ng/news/100913/ncp-wades-emeka-offor-nnaji-s-bid-enugu-power-firm

http://www.dailyindependentnig.com/2013/09/interstate-electrics-may-lose-enugu-disco/

I have always known that Emeka Offor is fronting for the powerful family...

How else can you explain how Globalscan can take over Apapa port as destination inspection agency from Cotecna without the needed technical capacity.?

Olugbenger:
RUBBISH!
since you can't disprove the message, this is the best you can up with.
you need a better orientation,bro.

Please ignore him. I think we all know by now that GEJ fans are the most clannish, most small-minded and most uncouth members of this forum. We should all remember the saying about small-minded people. They will always discuss other people and never ideas or the substantive issue. They contribute absolutely nothing here and only stalk those who, by far, are their intellectual superior.They are pathetic losers who only really deserve to be ignored same as most of us would not stop in the street to be talking to lunatics.

BekeeBuAgbara: Gbawe the liar

pathetic one

These APC bandits will not let go. The PHCN privatisation process has been CONCLUDED. All the preferred bidders have paid up. The World Bank doubted the ability of these companies to pay up, but Nigeria business men have proved the World Bank wrong.

The rules that governs the privatisation process was made known to ALL parties before the process began. The rule allows granting 21days extra for a company that failed to meet the 6 months deadline, if that company can prove that failure to remit the funds was due to technicalities.

Yes, Interstate failed to pay up on deadline day but the company made a case for it to be granted the lawful 21 days extension, which the BPE granted. Luckily, Interstate paid the whole money within that extension. Note, the 21 days is at discretion of BPE to grant and BPE did it in favour of Interstate. That is the LAW.

Peterside position was that the extension should not be granted. He said from his experience in business, any company that could not raise the funds in 6 months CANNOT raise it in 21 days. But Interstate has proved Peterside wrong by concluding the payment in 21 days.

From reports, Interstate problem was that of technicalities, not really due to inability to raise the fund.

By the way, if we talk in terms of connections, the other company (Eastern electrics) is backed by all southeast governors. So who is more powerful between Emeka Offor and the 5 southeast governors?

Assuming Interstate was even denied the 21 days extra and Eastern electric was called up to pay, what if Eastern electrics is unable to pay too? The consequence of that is the whole process (almost one year long) for Enugu Disco would have to be started again.

APC bandits should take their propaganda elsewhere. The privatisation process has been concluded. All is WELL that ends WELL

Gbawe ,Gbawe ,Gbawe ,I just hope ,for the sake of your parents and kids ,if any that the hatred of Jonathan and his family will not send you to early grave !

Evil men, God is watching you people in 3D. You failed in 2011, you will fail again come 2015.

lateef4me: Gbawe ,Gbawe ,Gbawe ,I just hope ,for the sake of your parents and kids ,if any that the hatred of Jonathan and his family will not send you to early grave !

that guy lives a very sad life

Sincere 9gerian: These APC bandits will not let go. The PHCN privatisation process has been CONCLUDED. All the preferred bidders have paid up. The World Bank doubted the ability of these companies to pay up, but Nigeria business men have proved the World Bank wrong.

The rules that governs the privatisation process was made known to ALL parties before the process began. The rule allows granting 21days extra for a company that failed to meet the 6 months deadline, if that company can prove that failure to remit the funds was due to technicalities.

Yes, Interstate failed to pay up on deadline day but the company made a case for it to be granted the lawful 21 days extension, which the BPE granted. Luckily, Interstate paid the whole money within that extension. Note, the 21 days is at discretion of BPE to grant and BPE did it in favour of Interstate. That is the LAW.

Peterside position was that the extension should not be granted. He said from his experience in business, any company that could not raise the funds in 6 months CANNOT raise it in 21 days. But Interstate has proved Peterside wrong by concluding the payment in 21 days.

From reports, Interstate problem was that of technicalities, not really due to inability to raise the fund.

By the way, if we talk in terms of connections, the other company (Eastern electrics) is backed by all southeast governors. So who is more powerful between Emeka Offor and the 5 southeast governors?

Assuming Interstate was even denied the 21 days extra and Eastern electric was called up to pay, what if Eastern electrics is unable to pay too? The consequence of that is the whole process (almost one year long) for Enugu Disco would have to be started again.

APC bandits should take their propaganda elsewhere. The privatisation process has been concluded. All is WELL that ends WELL

on wednesday ten out of eleven ncp members voted for interstate bid to be reversed and eastern electrics to called upon...most of them do not seem comfortable with the whole transaction process..just google 'interstate eastern electrics enugu power'.

lateef4me: Gbawe ,Gbawe ,Gbawe ,I just hope ,for the sake of your parents and kids ,if any that the hatred of Jonathan and his family will not send you to early grave !

You are the one destined for an early grave as the pathetic and demonic individual you are. You GEJ fans are nothing short of pure evil and you deserve your own forum, away from sane and balanced people, where you can practice your own insane level of clannish hatred and childish pettiness.

I blame the Mods who do not ban you evil and demonic creatures for life over your antics of attacking others merely because they present an article here. You do not even bother facing the article. Instead you creatures from hell just focus your evil malevolence on thread-starters. Everything you wish for others will happen to you first. Worthless devil!!!!!

Go and see how under-performing leaders are criticized ruthlessly the world over to know your GEJ, because of the docility of Nigerians, has it very easy in Nigeria. Only evil b*stards like you cannot understand that concept and must begin to wish evil upon other Nigerians for criticizing their own highly incompetent and hideously corrupt President.

Sincere 9gerian:

By the way, if we talk in terms of connections, the other company (Eastern electrics) is backed by all southeast governors. So who is more powerful between Emeka Offor and the 5 southeast governors?

^That is where the Patience Jonathan/Aso Rock connection comes in.



An outbreak of hypocrisy. Sure you are less concerned about competence. As a poster above rightly pointed out, members of the technical sub-committee last week voted against handing over the firm to Interstate. Their argument was that Enugu DISCO was too crucial to be left in the hands of a company that had to take advantage of the 18 or 21 days window to make payment after 10 other competitors had closed their deals. If a firm had to take advantage of an extended window to make payment, how are we sure it will be able to manage the DISCO? A firm that could not easily pay $93million, how will it ensure and fund the upgrade of the distribution network? Competence should Trump Connections.

Clause 4 of the Share Sell Agreement provides that BPE and the preferred bidder 'MAY' agree to extend agreed date for payment. BPE in as much as it has the powers to extend the payment date, it can also revoke their bid. BPE ought to have revoked Interstate's bid/contract. All the preferred bidders were given a 6 month window to source for funds, and 10 met the deadline. Interstate was unable to pay a dime! Can we categorize that as competence?

Fools Hijacked The Topic!!?

take dat: That is where the Patience Jonathan's angle comes in.



As a poster above rightly pointed out, just last week, members of the technical sub-committee voted against handing over the firm to Interstate. Their argument was that Enugu DISCO was too crucial to be left in the hands of a company that had to take advantage of the 18 or 21 days window to make payment after 10 other competitors had closed their deals. If a firm had to take advantage of an extended window to make payment, how are we sure it will be able to manage the DISCO?

to be honest i wish those ncp guys stand their ground and reverse that sale....better more time is used to do the right thing than forever be in the hands of an imcopetent firm.

take dat: ^That is where the Patience Jonathan/Aso Rock connection comes in.



As a poster above rightly pointed out, just last week, members of the technical sub-committee voted against handing over the firm to Interstate. Their argument was that Enugu DISCO was too crucial to be left in the hands of a company that had to take advantage of the 18 or 21 days window to make payment after 10 other competitors had closed their deals. If a firm had to take advantage of an extended window to make payment, how are we sure it will be able to manage the DISCO? A firm that could not easily pay $93million, how will it ensure and fund the upgrade of the distribution network?

It is sad and tragic that the supporters of GEJ here are petty and unintelligent to the extent they can never educate themselves enough to note what matters instead of coming here to emptily insult others. The sale of the Enugu Disco has been mired in controversy to the extent Osita Okechukwu has written the BPE three days ago with a demand for information under the authority of the FOI. By the time issues unravel, we will once again see that this may be another National process (fuel subsidy, pensions, pipeline protect contracts) cynically hijacked by a crooked Presidency and its ultra-corrupt acolytes. I am sure Mr.Okechukwu, if indeed he gains a response, will surely make his findings public.

http://premiumtimesng.com/news/144664-apc-chieftain-writes-bpe-demands-info-sale-enugu-electricity-coy.html

APC chieftain writes BPE, demands info on sale of Enugu Electricity Coy
Premium Times
Published: September 13,2013



Osita Okechukwu
The politician says he is relying on the FoI Act to make the demand.

The governorship candidate of the defunct Congress for Progressive Change, CPC, in Enugu State in 2011, Osita Okechukwu, has written the Bureau of Public Enterprises, BPE requesting detailed information on the privatization of Enugu Electricity Company Plc, ENUDISCO.
In a letter dated September 12 and addressed to the Director General of BPE, Benjamin Dikki, Mr. Okechukwu said he was relying on the Freedom of Information (FoI) Act to make the request.

The sale of ENUGU DISCO has been enmeshed in controversy following allegations that BPE manipulated the bid guidelines in favour of some bidders with connections to the ruling Peoples Democratic Party, PDP, and the Presidency.

A firm, Interstate Electric, owned by Emeka Offor, a member of the PDP, was announced the preferred bidder for the company on August 29 while the Eastern Electric Company, sponsored by a consortium of investors, including Geometric Power Limited, led by former Power minister, Barth Nnaji, five South Eastern State governments; Nestoil, Aba Power Limited and others, was listed as reserved bidder.

Mr Okechukwu, an indigene of Enugu State, who is now a chieftain of the All Progressives Congress, APC, said he was concerned with the transaction because being a tax payer in the state.

The letter reads, “May I humbly request you to use your good office to furnish me with information regarding the privatisation of Enugu Electricity Company Plc (EnuguDisco).

“Sir, I am a tax payer from Enugu State whose daily bread is tangential to the electricity supply.
“I make this request relying on the Freedom of Information (FoI) Act, 2011.
“For the avoidance of doubt, I request that you furnish me with information and documents covering the event ranging from Expression of Interest, Valuation and Technical Proposal, Emergence of Preferred Bidder, Share Purchase Agreement, Payment made so far (with dates) and all other relevant documents relating to that sale of Enugu Electricity Distribution Company (ENEDISCO).
“While waiting for your favourable responsible in accordance with FoI Act.
“Kindly accept my highest assurance and best regards.”

asha 80: to be honest i wish those ncp guys stand their ground and reverse that sale....better more time is used to do the right thing than forever be in the hands of an imcopetent firm.

We do not learn from past mistakes. I wonder why Ohaneze Ndigbo have remained silent. How can a company promoted by a shady and dubious business man be preferred than Eastern Electric promoted by the 5 SE state governments and Barth Nnaji's Geometrics? It casts a doubt over the transparency of the entire process.

take dat: We do not learn from past mistakes. I wonder why Ohaneze Ndigbo have remained silent. How can a company promoted by a shady and dubious business man be preferred than Eastern Electric promoted by the 5 SE state governments and Barth Nnaji's Geometrics?

http://thestreetjournal.org/2011/09/emeka-offors-multi-billion-naira-contract-scamwhy-efcc-looked-the-other-way/

no need bringing ohaneze to this issue though i know they once complained,google is there to verify..the thing is i do not know the kind of influence offor has over vice president that made bpe wave some obvious lapses in the technicalities of the bid of interstate...the problem now self is that the technical partner of eastern electrics seems to be suspect too which is spanco ltd of india as they have been stripped of their operating license in india.

take dat: We do not learn from past mistakes. I wonder why Ohaneze Ndigbo have remained silent. How can a company promoted by a shady and dubious business man be preferred than Eastern Electric promoted by the 5 SE state governments and Barth Nnaji's Geometrics?

http://thestreetjournal.org/2011/09/emeka-offors-multi-billion-naira-contract-scamwhy-efcc-looked-the-other-way/

Osita Okechukwu, as a responsible indigene of Enugu, maturely writes the BPE invoking the FOI to gain crucial information because it is obvious that the Enugu Disco concession process appear dubious and lacking meritorious logic. This is what politically sophisticated people do.

Our own failed herbalist masquerading as a medical doctor "on sabbatical" can remain here, despite being from Enugu, talking of APC bandits when real and tangible issues , such as 10 out of 11 committee members rejecting Interstate Electric, show sensible folks that something is amiss. This is how some folks, for the love of financial kickbacks and clannish devotion to individuals, mortgage the future of their children only to cry in future.


http://www.dailyindependentnig.com/2013/09/interstate-electrics-may-lose-enugu-disco/

Interstate Electrics may lose Enugu DISCO
POSTED ON THURSDAY, SEPTEMBER 12TH, 2013



By Efe Ebelo / Abuja

• Majority of committee members vote against hand-over

• To begin hand over to new owners Oct. 1

Strong indications emerged Wednesday that the bid for Enugu Distribution Company hitherto won by Interstate Electrics may be cancelled and awarded to the reserve bidder Eastern Electric.

This, according to a sources knowledgeable about the privatisation process, followed the inability of the Sir Emeka Offor-led Interstate Electric to meet the initial payment deadline of August 21, 2013.

The Technical sub-Committee of the National Council for Privatisation (NCP), met Tuesday to deliberate on issues relating to Enugu DISCO, the last of the power firms to make payment after the expiration the deadline.

It was gathered that 10 out of the 11 members of the committee voted against handing over the DISCO to the Interstate Electric.


Their argument, the sources explained, was that the Enugu DISCO is too crucial to be left in the hand of a company that had to take advantage of the 21-day window before making payment.

They were also said to have expressed doubts in the capability or technical expertise of the bid winner to run the DISCO.

According to a source: “The members of the Technical Committee reasoned that if the company had to take advantage of an extension window to make payment, then it may not be able to manage the DISCO if handed over to them. If at this stage they are not able to meet payment deadline, the members reasoned, they may not be able to manage the infrastructure

“The DISCO is very crucial to the entire South East, and the members believe that it is only a credible company that can manage it and deliver.”

It was gathered that a meeting of the NCP would be convened as soon as the Director General of the Bureau of Public Enterprise (BPE) returns from his trip abroad to deliberate on the outcome of the meeting of the Technical Committee and ratify it.

“The DG is the secretary of the NCP, and he is the one that has the powers to convene a meeting. He will do so as soon as he returns from his trip this Friday. And from all indications, the NCP may not go against the decisions of the Technical Committee.

Interstate Electrics, which won the bid for Enugu Electricity Distribution Plc, last Friday completed the payment of a balance $94 million for the DISCO, some few days after it took advantage of the available window for the completion of outstanding balance as spelt out in the Share Purchase Agreement (SPA).

There had been intense lobbying within government circles for the DISCO to be handed to the reserve bidder following the inability of Interstate to make full payment at the expiration of the deadline.

But another source told our correspondent that “some members of the Technical Committee wanted the bid cancelled and given to the reserve bidder, but since Interstate had the backing of powers within Aso Rock, it was very difficult to do so. This is especially given that the company had taken advantage of the 21 working days grace and made full payment

This is just as BPE DG, Benjamin Ezra Dikki, announced plans to hand over the various PHCN successor companies to new owners from October 1, 2013, thereby putting the power sector in private hands. Benefits to Nigeria, he said, would include increased power supply, boosting agricultural and industrial development among other positive developments.

Gbawe:

Please ignore him. I think we all know by now that GEJ fans are the most clannish, most small-minded and most uncouth members of this forum. We should all remember the saying about small-minded people. They will always discuss other people and never ideas or the substantive issue. They contribute absolutely nothing here and only stalk those who, by far, are their intellectual superior.They are pathetic losers who only really deserve to be ignored same as most of us would not stop in the street to be talking to lunatics.

Look at this nonsense accusing others of exactly the same sin he meted out to another in the Tinubu Parkinson disease thread.

Shameless bitter hypocrite.

I don't understand the hue and cry here

Sincere 9gerian has laid the point succintly...we need 2 ask ourselves some question

1) According to the privatization rules,can a company be granted a 21 days extension
2) Did atedo peterside argue that this rule doesn't exist 3)or did he doubt the ability of a bidder who can't raise the huge sum in 6 months raise it in 21 days

Those are the pertinent questions...

Now according to asha80

asha 80: ...the problem now self is that the technical partner of eastern electrics seems to be suspect too which is spanco ltd of india as they have been stripped of their operating license in india.

Assuming the above is true..don't you think the BPE and NCP should factor that in...

Meanwhile the NCP was undecided on the issue of interstate but referred it to their legal committee..
www.thisdaylive.com/articles/ncp-c-ttee-undecided-on-interstate-s-bid-for-enugu-disco/158754/
So I wonder where guys got that 10 out of 11 members voted against the deal