UPDATED: Osinbajo Confronted With Corruption Allegation On Brekete Family Live Radio

A potential grand corruption running into billions of Naira has been uncovered in the Nigeria Bulk Electricity Trading (NBET) Plc by Nigerian Human Rights Radio, ‘Brekete Family’.

The revelation was made during Vice President, Prof. Yemi Osinbajo’s visit to the Human Rights Radio and Television station on Monday at Kaura District in Abuja.

Brekete Family President, Ordinary Ahmad Isah, alleged that no less than N2 billion is being looted monthly at NBET through over-invoicing of electricity being distributed to power consumers.

NBET, which is ‘the manager and administrator’ of the electricity pool in the Nigerian electricity supply industry (NESI), is currently being headed by Dr. Marilyn Amobi.

Speaking to Osinbajo during the programme, Ordinary Ahmad said in pidgin English, “Your Excellency Sir, the kind stealing wey dey go on for the Nigeria Bulk Electricity Trading (NBET), if you hear am you no go believe.

“This na one organization wey be say so far them don give two law firms $1.5 million dollars for legal advice. No be say the money na for case o, $1.5m for legal advice. Them carry N30 million Naira give two other chambers again for legal advice. For this same Nigeria Bulk Electricity Trading company them dey thief N2 billion every month. I have the documents here sir.

“How them dey do am?…naim make we ordinary people dey complain about this government when AEDC charge us money for power consumption. Ashey this money wey we dey pay na part of the fraud wey they happen for [NBET].

“Your Excellency sir, you know how them dey do this stealing? Them dey over-invoice [GENCOS]. And because there is an understanding between them, the over-invoicing dey flow. Every month two billion Naira.

“At the end of [every month] them dey overcharge the masses through companies wey them license. You know say na them dey buy electricity in bulk from GENCOS come give distribution companies.”

The Brekete Family President explained that NBET allegedly overpays some GENCOS that they have an arrangement with by overcharging power consumers and going to receive their share of the overcharged sums from behind.

He said, “I have documents wey full carton as evidence, including emails wey Marilyn Amobi, wey be the MD of that company, they exchange with people.”

Mr Ahmad told the Vice President that it took him more than six months to arrive at his conclusion and evidence of alleged corruption against NBET and its management.

The Brekete Family president added that alleged loot that has been perpetrated in the agency since its inception in July 2010 could fund the yearly budgets of eleven states in the country.