Yes. With this action based on the explanation giving, I think the FG, UBA,NERC and the union are right. Infact, let them do the same to others joor. Afterall, they've all been performing woefully.

Hmmm. Federal government doesn't have power to sack management of private company but private company has power to collect money from same government to run its operations. Bull shit.

AEDC is a Private Company, just as other DISCOS.
Using Presidential Order to remove its management is Undemocratic and another example of Buhari's Dictatorial Behaviour.
He is yet to removed his Khaki-Behaviour.!

I am certain that he will replace the Management with his Fulani tribesmen and those once will even make things worse, by their looting.

Which Foreign Company will like to come and invest in such an Environment where the President just wakes up and starts interfering in the micro-managment of a Private Company?

Dohak:
Hmmm. Federal government doesn't have power to sack management of private company but private company has power to collect money from same government to run its operations. Bull shit.

This is also wrong!
It just shows that the whole privatisation exercise, superintended by Hell Rufai and Atiku Abubakar, was a SCAM and a SHAM.

Na Paddy-Paddy Govt we dey o, Egbami o, Na Arrangee Govt we dey o, Yeparipa o - Fela Anikulapo Kuti (RIP)

vibratingpenis:
If the FG has up to 40% stake in the company and due process was followed, the idiotic dullard vegetable fibroid mannequin is right to do so.

Buhari too dey sack! He deserves to be sacked first for mismanaging the country.

thebosstrevor1:


Yes, they own stake in all of the electricity companies

You are 'coy' and deceitful!

First, you said 40% is a majority Share in the Company.
But you did not make reference to the remaining 60% and how it is absurd that 40% can Veto 60%!

Then you tried to acknowledge that the Fed Govt is still in charge of the DISCOS, with their 40% Share and therefore, the DISCOS cannot be described as a "Privatised, Public Ownership".

In summary, you are as deceitful as the Mannequin you represent.

Tecno66:
Buhari too dey sack! He deserves to be sacked first for mismanaging the country.

Just watch who and who will be in the New Management.
I will bet that it will all his Fulani Herdsmen that will take over the company.
That has been his modus operandi for some years now, "Remove others and Replace them with Fulani People"

Everywhere you go now, you will see all his incompetent-misfits, leading Nigeria.

oweniwe:
When will they fire BEDC management?

Honestly, something has to be done about BEDC matter!

Prof Amadi was in charge of NERC and knows his onions not like the FG that peddles lies and has square pegs in round holes.

1. 40% is no majority
2. 60% is owned by KANN
3. The strike was brought about by CBN withholding billions of Naira due to AEDC allegedly whereas other DISCOs have received their payments.

FG and lies . No shame. Maybe them want to share that AEDC money and with a new management they can share the money.

The facts are being hidden

smallsmall:


You are 'coy' and deceitful!

First, you said 40% is a majority Share in the Company.
But you did not make reference to the remaining 60% and how it is absurd that 40% can Veto 60%!

Then you tried to acknowledge that the Fed Govt is still in charge of the DISCOS, with their 40% Share and therefore, the DISCOS cannot be described as a "Privatised, Public Ownership".

In summary, you are as deceitful as the Mannequin you represent.

You lack information.


It is written on their site that AEDC is a franchise and that KANN Utility Limited is the 60% equity holders in AEDC, while the Federal Government of Nigeria holds 40% equity.

https://www.abujaelectricity.com/who-we-are/

2 companies owns Kann utility limited

KANN Utility Company Limited is jointly owned by Xerxes Global Investments Limited, a local firm; and CEC Africa Limited (CECA). That means, the 60% is shared between the 2 companies

Who is funding AEDC?

The central bank.

WHO WANTS CHANGES OF THE BOARD OF AEDC

Since last year, CEC Africa, a core investor of AEDC Want changes to the board composition of AEDC.

thebosstrevor1:


You lack information.


It is written on their site that AEDC is a franchise and that KANN Utility Limited is the 60% equity holders in AEDC, while the Federal Government of Nigeria holds 40% equity.

https://www.abujaelectricity.com/who-we-are/

2 companies owns Kann utility limited

KANN Utility Company Limited is jointly owned by Xerxes Global Investments Limited, a local firm; and CEC Africa Limited (CECA). That means, the 60% is shared between the 2 companies

Who is funding AEDC?

The central bank.

WHO WANTS CHANGES OF THE BOARD OF AEDC

Since last year, CEC Africa, a core investor of AEDC Want changes to the board composition of AEDC.

It says UBA, Tony Elumelu

The federal government should extend this to PHED people in the south-south are groaning because estimated billing.Don't shy away from your responsilities

You sacked (unduly) him for daring to ask for his pay yet you are fighting curuption?

The norm now is to choke people and when they complain (protest) they get arrested and punished for embarrassing the old man.

THIS GOVERNMENT IS A DISASTER. ALL OF BUHARI'S IDEAS ARE TURKISH ISLAMIC ORIENTED.

[quote author=Buharifan post=108324908]Sai Baba!

We fellow Nigerians on Nairaland here say carry go Baba Buhari till 2023 and beyond.

Baba good at cleansing the system of bad eggs.

Meanwhile, who remembers years back when politicians ride on Baba's back to win election such as one below:

After riding on his BACK to victory, he went ahead to SET UP BOKO HARAM that was subsequently used to blackmail the country to surrender the reigns to INCOMPETENCE PRO MAX.