Its not an issue of bypass, IBEDC mismanaged the 6 billion naira intervention fund given to them by CBN for network expansion,upgrade and meter purchase. They didn't repay and when inquiries was made they had diverted the funds to a major stakeholder's account and the management said it was a loan they gave out. When did A Disco become a money lender? That was when the useless regulator (NERC ) issued IBEDC a query and 50 million fine for its failure to recover the interest free loan the board gave to its core investor , what where they doing since the funds was released almost 5 years ago. The level of fraud going on in the energy sector is mind blowing. I can beat my chest and tell you that a MD in any Disco is richer than most sitting governor. To the remaining Disco CBN is coming for you through AMCON because they also got the funds and diverted it.
If the energy sector is well managed it will generate revenue than the oil sector.
Even the grand master Obasanjo that squandered 16 billion dollars is yet to be held accountable. Money dey NEPA

Dexpro:
Like seriously?

IBEDC customers why? Una don bypass sotey, the company nearly bankrupt

1nigeriamyfoot:

Less than 10% of electricity consumer in Ibadan has prepaid metre so it's not a matter of bypass

We I lives, sometimes there will be no power supply for a whole week despite that transformer is perfectly ok

If there's small issue with transformer, their staff will demand for minimum of 10k before leaving their office to check what's wrong with the transformer. If it's something that will cost 50k to fix, they will demand for 300k. Their customer care representative is a joke, the lady always defend their staff on phone if you dare complain about their services.

I use prepaid metre in my house but our transformer had issue for about 8months now. We contributed money to buy new one but IBEDC insist they buy for us at overinflated rate else where won't power the transformer. We now warned them never to distribute their estimated bill to us if they don't want to have their hand chopped off

We now rely on generating set & solar whereas we have over 500 houses on that damaged transformer

Why don't you create a thread about this? Make we dey shame this useles DISCOS

Nawa oo..there is nothing like free gift..na person go always bear the brunt..nothing like smartness for this life..you are either good or evil..

Tunbolity:
A lot of factors are responsible for this financial quandary IBEDC found itself.
Chiefly, the investors who bought IBEDC, Tunde Ayeni the former CEO of Skye Bank now Polaris, and others did not have enough capital to run it and the government that sold it too knew but because he donated hugely, I think 10bn or so to the re election campaign of GEJ, he got the deal. Since the investors bought PHCN and changed to IBEDC, there is hardly anywhere across their territorial jurisdiction where IBEDC has been able to change spoilt equipment except customers in those communities contribute money to replace spoilt property of the company!
Also, there is huge uncleared bills by customers, and the few who are on prepaid metering have bypassed the meter thereby causing economic sabotage to the company. Virtually all the houses in my area which are on prepaid meter bypass the meter at night and reconnect back to the meter the following morning. In some houses, it's as if the meter has been switched off because nobody is coming to inspect so, where is the company's gain in this situation?
I hope with the take over by AMCON, they can plug the leakages through right leadership and put the company back on the path of viability

Can you also tell us what IBDC did with the #6 billion loan?

The DISCOs are so corrupt, no regard for their consumers with special hatred for those using prepaid meter.

saintruky:


Amen o... By fire by force....

imagine na 13k I pay monthly for my house for 2yrs straight ...and I no run pure water company .....d bastards refuse to reduce am after I don complain 5times

Abdussalamu Abubakar

Is this real

Dexpro:
Like seriously?

IBEDC customers why? Una don bypass sotey, the company nearly bankrupt

Who sold it to the incompetent quacks in the first time place?

wolexy14:
imagine na 13k I pay monthly for my house for 2yrs straight ...and I no run pure water company .....d bastards refuse to reduce am after I don complain 5times

Wow... Maybe u get bakery for house na... BEDC wan kee pipo ooo...

Tunbolity:
Follow Ibadan jobs connect on IG for updates. Best of luck

Okay. Thanks alot

Like seriously biko what is the current valuation and liability of the company ...let me go and find investors... no wonder they were misbehaving in Janurary and I have to be doing foresic checks on their bill whether they are real or fake.Government sef this model of Genco one side, Transmission one side and Distribution one side is absolutely nonsentical... It is better you decentralize and cut the chucks to smaller pieces so their is full control and give room for competition too. But why are bankers selfish sef, if it is there turn they coin a word like "TOO BIG TO FAIL" and bailout themselves... biko this is a critical utility firm that should be so categories or better still find a new investor to float the ship.

1nigeriamyfoot:

Less than 10% of electricity consumer in Ibadan has prepaid metre so it's not a matter of bypass

We I lives, sometimes there will be no power supply for a whole week despite that transformer is perfectly ok

If there's small issue with transformer, their staff will demand for minimum of 10k before leaving their office to check what's wrong with the transformer. If it's something that will cost 50k to fix, they will demand for 300k. Their customer care representative is a joke, the lady always defend their staff on phone if you dare complain about their services.

I use prepaid metre in my house but our transformer had issue for about 8months now. We contributed money to buy new one but IBEDC insist they buy for us at overinflated rate else where won't power the transformer. We now warned them never to distribute their estimated bill to us if they don't want to have their hand chopped off

We now rely on generating set & solar whereas we have over 500 houses on that damaged transformer

We are so sorry to hear that. However, you can reachout to us for all your power/energy need.

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Thank you.

They should take over EkEDP

DubaiLandLord2:
Why don't you create a thread about this? Make we dey shame this useles DISCOS

I once went to their office to lodge complaints but their staff shows no concern

saintruky:


Wow... Maybe u get bakery for house na... BEDC wan kee pipo ooo...

Dem come my house come calculate all d appliances wey dey,Dem even tell me say AC wey I no connect,say na 5k on its own and oda things ,say Dem dey even do me a favour

Some one needs to start taking over indian , Chinese owned company in Nigeria,those things Are corrupt.
I know one that will use staff tax to pay company tax.
Staff will ask for Tax identification number,company will be telling you tori tori.
I wrote FIRS and son,their staff that comes to inspect are ONLY coming to take bribe.

post=109564891:

The koko be say,
Let there be light,
And secondly, we hope some people won't lose their positions

Nigeria will work in our lifetime.

I've been reading all your comments on nairaland.Sorry to tell you this,your thoughts are always incoherent.

wolexy14:
Dem come my house come calculate all d appliances wey dey,Dem even tell me say AC wey I no connect,say na 5k on its own and oda things ,say Dem dey even do me a favour

Hahaha... Do u buy dog when nor get joy or respect... Then dey open ur gate down d day dem dey come...

uptimum123:
Good for them.. Ikedc should be next

All these discos are useless people

Nigerian's will never forgive Jonathan for selling our power to his cronies.

Ahh that's some people's hero you're talking to like that

IBEDC has taken with it the whole light we were managing in Ibadan! Since AMCON took over, light has become so scarce and it comes only in the middle of the night. Bring back IBEDC abeg