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Home Economy

FG orders banks to sell off disco shares

..,.Govt explains sack of core investors Targets 22,000mw.

TrackUpNews by TrackUpNews
December 14, 2022
in Economy
Reading Time: 1 min read
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14 December 2022

Banks holding majority stakes in six electricity distribution companies (DisCos) yesterday got a marching order from the Federal Government to divest within 12 months.

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Minister of Power, Abubakar Aliyu, who gave the ultimatum, said the government was monitoring the operations and divestment process of the six DisCos to ensure compliance with the core objectives of restructuring the power firms.

Report says the banks have been mandated to find serious investors to sell their 60 per cent equity in the Abuja, Kano, Kaduna, Benin, Ibadan and Port Harcourt DisCos

Tags: BankDiscofgSales of shares
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Track Up News is an online news publishing site aimed at disseminating newsworthy information to the public with high sense of objectivity.

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