Oyo seals IBEDC, says DISCO owes N400m

Ibadan Electricity Distribution Company Management has said it cut power supply to the Oyo State Secretariat over the issue of its huge indebtedness.

IBEDC in a statement on Wednesday said the state government is yet to pay N450m owed to the firm for electricity supply.

According to the Chief Operating Officer, Mr John Ayodele, the Oyo State Government owes IBEDC N450m for over a period of three years.

He said the company, as part of efforts to get the outstanding amount paid, initiated several engagements through correspondences and physical meetings, but all the efforts yielded no result.

However, the Oyo State Board of Internal Revenue has given reasons why it sealed offices of the Ibadan Electricity Distribution Company over a tax default in excess of N400m.

– Punch