Just in: FG sacks NBET’s MD, Dr. Amobi

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Finally, the Federal Government has sacked the Managing Director and Chief Executive of Nigerian Bulk Electricity Trading Company, PLC, NBET, Dr. Marilyn Amobi.

This is just as the government subsequently equally announced her replacement with the appointment of Dr. Nnaemeka Eweluka as the substantive MD/CEO for the Nigeria Bulk Electricity Trading Company, NBET.

In a statement by the spokesperson of Minister of Power, Aaron Artimas also posted on the ministry’s Twitter handle, said President Muhammadu Buhari has approved the appointment of Dr. Nnaemeka Eweluka as the substantive MD/CEO for the Nigeria Bulk Electricity Trading Company, NBET.

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The statement signed by Mr. Aaron Artimas, reads; “In furtherance of the reorganisation and realignments in the Power sector, the Minister of Power, Engr. Sale Mamman announces the appointment of a new Managing Director for the Nigeria Bulk Electricity Trading Company, NBET.

“He is Dr. Dr. Nnaemeka Eweluka, the Company’s General Counsel and Secretary. “He is to succeed Dr. Marilyn Amobi, as a substantive Managing Director and Chief Executive Officer, while the former MD is to hand over and proceed on terminal leave with immediate effect.”

The statement added that, “President Muhammadu Buhari had earlier approved the recommendation to this effect. It would be recalled that the Minister of Power, Engr. Sale Mamman had in19th of December, sacked the outgoing Managing Director of the Nigerian Bulk Electricity Trading Company, NBET, Dr. Marilyn Amobi, following allegations of embezzlement and other wrong doings. But the President, Muhammadu Buhari almost immediately reversed the sacking of Dr. Marylin Amobi.

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The memo reinstating her was issued from the office of the Secretary to the Government of the Federation, signed by the SGF, Boss Mustapha.

The SGF also disclosed that NBET has been moved from the Ministry of Power to the Ministry of Finance In reversing the decision of the Power Minister, Sale Mamman, who sacked the NBET MD on the 19th of December, 2019, the SGF directed Amobi to resume immediately, while also asking the acting MD, Nnaemeka Ewelukwa, appointed by the Minister, to step down.

The sacking of Amobi was the climax of the crises rocking the Nigeria energy sector, resulting in Mamman asking Amobi to step down with immediate effect in order to “restore sanity” in the management of the agency.

The NBET was incorporated on July 29, 2010 and serves as a special purpose vehicle to buy electricity from the Generation Companies, GENCOs, through the Power Purchase Agreements, PPAs, and sell to the Distribution Companies, DISCOs, through vesting contracts. Office of the Minister of Power (@PowerMinNigeria) tweeted at 6:08 PM on Mon, Jun 15, 2020:

President Buhari has approved the recommendation of the Hon. Minister of Power @EngrSMamman for the Appointment of Dr. Nnaemeka Eweluka as the substantive MD/CEO for the Nigeria Bulk Electricity Trading Company, NBET.

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