The Port Harcourt Electricity Distribution Company has denied allegations of ₦4.3 billion misappropriation involving its chief executive officer and other directors.
According to the News Agency of Nigeria, in a statement on Tuesday in Port Harcourt, the PHEDC Head of Corporate Communications, Olubukola Ilevbare, described the claims as fabrications by mischief makers.
It was reported that a source within PHED had accused Managing Director Ochuko Amah, Governing Board Chairman Olice Kemenenabo, Chief Financial Officer Efemena Elutabe, and Matthew Edevbie of embezzling funds.
The source alleged that Amah received ₦1.5 billion, while Edevbie and Kemenenabo got ₦2.3 billion and Elutabe ₦500 million, respectively. However, Ilevbare described the allegations as misleading and urged the public to ignore them.
“Some disgruntled elements sponsor this publication and should not be given any attention.
“It is, therefore, not surprising that the claims originate from a nameless blog with no credibility.
“This malicious news is a calculated but failed attempt to blackmail the company and to mislead members of the public.”
Ilevbare said that the company would have ordinarily not responded to the “baseless” claims but felt compelled to clarify the situation to counter this misinformation.
She said that Amah, who became a managing director on March 8, was untroubled by the allegations but remained focused on achieving her five-point agenda to enhance the staff welfare package.
Others are to promote participatory leadership, enhance stakeholders’ satisfaction, boost revenue, reduce Aggregate Technical, Commercial, and Collection (ATC & C) losses, and reward outstanding employee performance.
“Since February, PHED’s revenue has doubled, with Collection Efficiency rising from 68% to 85% in four months.
“The ATC & C (an industry benchmark in scoring the DisCos) losses crashed from 43% to 28%, a feat never been achieved in the company’s history.
“Management also secured the Governing Board’s approval for salary increases and introduced a welfare program themed ‘Celebrating Our Wins,’ to celebrate high-performing teams, individuals and regions monthly.”
