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The management of Benin Electricity Distribution Company (BEDC) refuted rumors circulating in the public domain about the dissolution of its management and board, affirming their continued presence and commitment to the company’s success. In a statement signed by the acting Head of Corporate Affairs, Evelyn Gbiwen, BEDC clarified the misinformation and assured stakeholders of the integrity of its leadership.
Addressing the erroneous publication titled “Poor Power Supply: FG Moves to take over BEDC, Sack Management,” BEDC emphasized the falsity of the news and assured both internal and external stakeholders of the ongoing stability within the company’s leadership structure. The statement underscored the commitment of the current board and management to BEDC’s growth and operational excellence.
Contrary to speculations, BEDC highlighted its achievements under the current leadership, including a notable increase in revenue collection from N4.9 billion in July 2022 to over N7.6 billion as of February 2024, alongside a significant reduction in technical, commercial, and collection losses. This progress, according to BEDC, reflects the dedication and hard work of the entire management and staff.
Acknowledging the collective efforts of the workforce, BEDC affirmed its decision to implement salary increments, promotions, and other incentives as recognition of staff contributions. Additionally, the current Board of Directors reiterated its commitment to facilitating the divestment of 60% shares of the company to investors while ensuring optimal operations.