Investment worth over $1.661billion from multilateral agencies’ is currently under threat due to the removal of the Managing Director of the Transmission Company of Nigeria , Usman Gur Mohammed, the Nigerian Power Consumers Forum , said yesterday.
General Secretary of the NPCF, Michael Okoh, who accused Mamman of turning a deaf ear and repeated such a costly mistake at TCN against a circular issued by the Secretary to the Government of the Federation , Boss Mustapha, on applying due process to sanction heads of agencies. According to him, Mohammed repositioned TCN and it is evident as multilateral donors flood to invest with cheaper loans in TCN. Under the four years management contract of MHINL, there was no single audit of the TCN, just as the company could not raise a single dollar of investment during the period.
The group added that more than 70 per cent of the bloated management structure had already been corrected as at when the minister removed him from office through a press release on May 19, and had also restored staff training, a scheme previously used in NEPA, but was cancelled under the previous management.
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