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 has 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.
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