Emmanuel Addeh in Abuja
The directive by the Central Bank of Nigeria (CBN) to Nigeria’s deposit banks to take over the collection of revenues from the power Distribution Companies (Discos) has begun to yield positive results, THISDAY checks revealed at the weekend.
The Discos posted a record N44.5 billion revenue collection in September 2020, the highest ever recorded by the power distributors, a month after the apex bank gave the directive, it was learnt.
Before the September record, in August 2020, the month the order was given, data released by the Discos in its third-quarter summary of Key Performance Indicators (KPIs), indicated that another record was posted, with the collection of just a little less than N44 billion, another record before September.
Austin Atakpu, the Managing Director, TCS Paymeters Ltd., manufacturers of prepaid meters, says metering of houses in the country is a gradual process and not automatic.