The Board and management of the Port Harcourt Electricity Distribution Company, PHED, have refuted claims that approximately N4.3 billion was misappropriated by top officials within the company.
In a statement, PHED dismissed the allegations as baseless and aimed at discrediting the company’s technical partner, board chairman, and management team.
“The Board and Management of PHED have become aware of false allegations circulating on social media,” the statement said.
“These claims suggest that N4.3 billion was misappropriated by Technical Partner Engr. Matthew Edevbie, Board Chairman Engr. Olice Kemenanabo, and other management staff.
“These accusations are entirely unfounded, malicious, and designed to undermine the credibility of the Chairman, Technical Partner, and key management personnel who have been instrumental in addressing past issues.”
PHED emphasized that the allegations are intended to malign those who have worked diligently to rectify previous misconduct within the company, including the removal of management staff involved in malfeasance in April 2024.
Rivers: PHED denies misappropriation of N4.3bn
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