HOUSE OF REPRESENTATIVES INAUGURATES COMMITTEE TO INVESTIGATE N200BN CBN LOAN TO DISCOS.

The House of Representatives has inaugurated a 19-member committee to investigate the disbursement and utilization of the N200 billion Central Bank of Nigeria (CBN) loan for the National Mass Metering Programme (NMMP) to Electricity Distribution Companies (DISCOs). 

Exercising its powers under Sections 88(1) and (2) of the 1999 Constitution to conduct the investigation, the House cited concerns over transparency and accountability in the management of public funds.

The House charged the committee, chaired by Uchenna Okonkwo, to examine the programme's implementation, including the release of funds and the installation of meters, as well as the repayment of the loan by DISCOs and the handling of the fund by managers. 

The investigation followed concerns over discrepancies in the programme's funding and implementation, including the release of N55.4 billion instead of the announced N59.280 billion for the pilot phase. 

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