New TCN CEO Lifts Suspension on Payments

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The new interim Managing Director/CEO, Transmission Company of Nigeria (TCN), Usman Gur Mohammed, has ordered a partial lift of the suspension of payments in the areas of the company’s operations.

In a circular dated February 10,  he directed that the ban be lifted on the following areas: “2016 FGN appropriation, Imprest of outstations, payments of medical and staff salaries, payments of Eurobond, AFD (African Development Bank) loans.” He directed officers to continue to process and refer to the undersigned on other critical operational matters as they arise.

The circular with ref No: TCN/TCEO/0001/vol 001/2017, that was addressed to the Managing Director of Market Operator (MO) and Managing Director Transmission Service Provider (TSP), was copied to all the General Managers of the MO and TSP. Mohammed had in a letter dated February 3 directed the TCN to temporarily put on hold all payment accounts of the company with immediate effect.

Source: EnergyMix

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