The National Electricity Regulatory Commission (NERC) has
revealed that companies which won bids for state-owned power generation assets
put up for sale or concession would still undergo a “fit and proper” scrutiny. NERC’s
Chief Executive Officer, Dr. Sam Amadi, said the commission is looking into the
memorandum submitted by the companies to determine whether the local firms and
their foreign partners possess the technical and financial capacity to manage the
assets.
The commission’s head also disclosed that they are
conducting checks on the individuals involved in the transaction to find out if
they are “fit and proper” to run the unbundled companies on behalf of
Nigerians. Amadi added that the report would be sent back to the president
before the curtain is drawn on the exercise.
Chairman of the Technical Committee of the NCP, Mr. Atedo
Peterside, had echoed a similar sentiment during the opening of the financial
bids. He cautioned the jubilant representatives of the successful companies to
be mindful of the fact that their emergence as preferred bidders was still
subject to the approval of NCP and that they could still be denied the opportunity
of taking over the companies if they failed to pay their fees or if they were
found wanting in documentation during post-bid assessment.
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