The FG who holds 40 percent shares in the power firms has been dragged to court on May 14 by 10 DisCos at the federal high court in Abuja.
The applicants are Abuja, Ibadan, Eko, Ikeja, Kaduna, Kano, Jos, Benin, Enugu and Port Harcourt electricity distribution companies.
The DisCos asked the court to stop the Nigerian Electricity Regulatory Commission (NERC) from conducting a forensic audit of their operations.
Other respondents are the national economic council, attorney-general of the federation (AGF) and Transmission Company of Nigeria (TCN).
The court papers reads;
An order directing that the grant of leave shall operate as a stay of any further action(s) or proceedings by the respondents, their officers, employees, servants, agents, privies, related parties and any other person acting through or on behalf of the respondents, howsoever described, from, in any manner whatsoever, (i) acting in connection with the notice of forensic audit issued by the 1st respondent or such similar letter(s), notice(s) or instrument(s), and (ii) conducting a forensic audit of the applicants’ operations pending the hearing final determination of this action and/or further direction by this honourable court.
The 1st respondent is now taking steps to conduct the forensic audit and compel the applicants to inter-alia present their financial, administrative and relevant technical records, books, accounts and other documents including the applicants’ minutes of meetings to the forensic auditors appointed by the 1st respondent to conduct the forensic audit.
The applicants are apprehensive that the 1st respondent will impose sanctions on the applicants and their directors, if the applicants fail to comply with the notice of forensic audit and/or co-operate with the forensic auditors appointed by the 1st respondent.
The applicants’ could not bring this application before the expiration of the notice period in the notice of forensic audit because of the ravaging COVID-19 pandemic and the lockdown restrictions and other measures put in place by the government to curb the spread of the virus.
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