..says directive will be counterproductive
By Olanrewaju Adesanya
SUNRISE NEWS, Lagos, Sept. 3, 2020 The National Union of Electricity Employees (NUEE) has poked the proposal by the Central Bank of Nigeria that banks take over electricity bills collection from Electricity Distribution Companies (DisCos),describing it as ill timed and counterproductive.
In a statement signed by the body’s General Secretary Comrade Joe Ajaero, NUEE flays CBN’s move on the grounds that it was not a regulatory body and therefore cannot issue such directive as it clearly lacks the required expertise to so do.
“The CBN directive is a subtle attempt to take over jobs in the Power Sector which will be resisted. You can’t work in the Financial Sector of the economy and collect your pay from the Power Sector. Enough of this usurpation.
“Today, in the face of Global Economic down turn occasioned by the COVID-19 Pandemic, CBN’s directive would further increase the unemployment index which the current Administration is working assiduously to prone down.
“Our attention has been drawn to the Central Bank of Nigeria (CBN) Circular dated 21st August, 2020 and signed by its Director of Banking Supervision–Bello Hassan; asking Banks to take over Electricity Bills Collection from Electricity Distribution Companies (DisCos)
“The implementation of this directive at this period is not only ill-timed but counter productive owing to the operational and overhead cost challenges this portends.
“The CBN is not a regulatory body for the Power Sector and has very minute knowledge about its operations; and cannot be in a position to issue directives in a sector where it lacks expertise.
“Since the privatization of the Nigerian Power Sector in November 1, 2013, not much has been done towards ensuring that Electricity Consumers in Nigeria are issued prepaid meters to properly account and justify payments being made for energy consumed rather than the estimated billing system which has further placed huge financial burden on Nigerians.
“The implementation of this directive will not ensure job security and will no doubt throw thousands of Electricity workers into the Labour market thus increasing hardship and hunger on family members of those affected.
NUEE maintained that, “Rather than increase hunger in the Country, we advise that the Federal Government and its Organs saddled with the responsibility of policy formulation; concentrate on metering every electricity consumer in the country rather than asking them to keep paying for electricity not consumed.
“Should the CBN proceed with this ill-timed agenda, then it should be ready to not only have its workers work in the Financial Sector but also work in the Electricity Industry, they should add Engineering and Electrical skills to CBN staff and not just revenue collection alone. Monkey dey work Baboon dey chop, economy would no longer be tolerated.