Indications have emerged that the Canadian firm
may not be able to fully take over Manitoba Hydro International yet. This is
because of the inability of the President to constitute a board for TCN, a
requirement that is vital to the execution of the three-year management
contract for the transmission company won by Manitoba.
The delay in the constitution of the TCN board by
President Goodluck Jonathan, it was gathered, was a key reason delaying the
management takeover of TCN by Manitoba.
Before the President ordered that the management
contract initially awarded to Manitoba for $23m for a three-year period be
revalidated, it was gathered that Jonathan had approved the contract in
principle.
The Canadian company had in July signed the
management contract with BPE for the management of TCN beginning from September
1, 2012.
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