CBN Directs DMB-Led Electricity Market Collections

50% electricity tariff increase

By CBN In line with a directive of the Power Sector Coordination Working Group to improve payment discipline in the Nigerian Electricity Supply Industry (NESI), and thereby boost the overall quality of electricity generation, transmission and distribution, all Deposit Money Banks are required to immediately implement the underlisted actions in collaboration with their customer Electricity Distribution Companies (DisCos). Banks providing Bank Guarantees to Nigeria Bulk Electricity Trading (NBET) Plc and the Transmission Company of Nigeria (TCN) on behalf of DisCos, would take full responsibility for: The collections of the concerned…

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