How Port Harcourt DisCo’s MD, 3 others allegedly embezzled N4.3bn

The Managing Director of Port Harcourt Electricity Distribution Company (PHED), Mrs Ochuko Amah, Governing Board Chairman, Olice Kemenenabo, Chief Financial Officer, Efemena Elutabe, and Matthew Edevbie have been accused of embezzling funds.

A source within the PHED alleged that Amah received N1.5 billion, while Edevbie and Kemenenabo got N2.3 billion and Elutabe N500 million respectively.

Reacting to the allegation, PHED in a statement signed by Mrs Olubukola Ilevbare, its Head of Corporate Communications, on Tuesday in Port Harcourt, described the claims as fabrications by mischief makers.

“This publication is sponsored by some disgruntled elements and should not be given any iota of attention.

She said that Amah, who became managing director on March 8, was untroubled by the allegations but remained focus to achieving her five-point agenda to enhance staff welfare package.

“Others are to promote participatory leadership, enhance stakeholders’ satisfaction, boost revenue, reduce Aggregate Technical, Commercial, and Collection (ATC & C) losses and reward outstanding employee performance.

“Since February till date, PHED’s revenue has doubled, with Collection Efficiency rising from 68 per cent to 85 per cent in four months.

“The ATC & C (an industry benchmark in scoring the DisCos) losses crashed from 43 per cent to 28 per cent, a feat never been achieved in the company’s history.

“Management also secured the Governing Board’s approval for salary increases and introduced a welfare programme themed ‘Celebrating Our Wins,’ to celebrate high-performing teams, individuals and regions monthly.”