Court Nullifies NERC’s Order Sacking Ibadan DisCo Board - THISDAYLIVE

Federal High Court in Abuja yesterday set aside the decision by the Nigerian Electricity Regulatory Commission removing the Board of Directors of the Ibadan Electricity Distribution Company otherwise known as Ibadan Disco.

Justice Taiwo in agreeing with the submissions of Olaniwun Ajayi who represented Ibadan Disco and its directors, held that the appointment and removal of directors must be in accordance with the provisions of the Companies and Allied Matters Act and ESPRA. In further agreement with Olaniwun Ajayi, the court held that Regulation 18 of the Electricity Industry Regulation 2014, which purports to give NERC the powers to remove directors was ultra vires, as it went beyond the remit of EPSRA.

NERC had, through its Order No NERC/181/2018 of June 19, 2018, suspended the Board of Directors and other key management staff of IBEDC on account of the company’s purported default in the recovery of an inappropriate shareholder loan of N6 billion granted to IEDMG Ltd by the utility.

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