Nigeria’s House of Representatives has mandated eleven power distribution companies to reimburse N55.42 billion to the Central Bank of Nigeria (CBN) following an investigation that deemed the nation’s primary metering initiative a significant failure. The resolution, which was passed on Thursday, grants the implicated companies a period of seven months to complete the repayment process. This decision was made after the House reviewed and endorsed the conclusions presented by a dedicated committee that examined the efficacy of the metering program.
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