The Federal Government may recoup its money from debtor power distribution companies by calling on their bank guarantees.
This, it was gathered, had been brought before Vice President Yemi Osinbajo, who is the Chairman of the National Council on Privatisation.
Mid last month, the Federal Government ordered the power distribution firms to remit the outstanding amounts for capacity and energy invoiced against them since February before the close of business on July 24, 2015.
But two weeks after the expiration of the ultimatum, the affected power distribution companies have yet to comply with the directive.
Impeccable sources at the Federal Ministry of Power and the Nigerian Bulk Electricity Trading Company Plc told our correspondent on Thursday in Abuja that the Federal Government had through the NBET written to the Discos and their various banks notifying them of the intention to call on their respective bank guarantees.
A top management official of the NBET said the decision had not been implemented because the vice president recently held a meeting with operators in the sector and the issue was discussed.
