House of Representatives panel has queried the Bureau of Public Enterprises (BPE) and the Abuja Electricity Distribution Company (AEDC) for their role in the sale of assets belonging to the Transmission Company of Nigeria (TCN).
The ad-hoc panel probing the sale of power assets chaired by Rep Ahmed Idris (APC, Plateau), said that based on available records, the power assets were grossly undervalued before the deal.
The panel also raised eyebrow on the award of the management contract to Manitoba Hydro-Electric International Company Limited, a Canadian company, instead of its Nigerian subsidiary, Manitoba Hydro-Electric Nigeria Limited.
Thus, the committee demanded BPE and AEDC to produce all documents on the value of all the power assets sold.
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