Home Business Transmission Company of Nigeria’s CEO Accused of Procurement Violations Worth Billions
BusinessFinance

Transmission Company of Nigeria’s CEO Accused of Procurement Violations Worth Billions

713

The Managing Director and CEO of the Transmission Company of Nigeria (TCN), Engr. Sule Ahmed Abdulaziz allegedly violated the Public Procurement Act of 2007, according to a document from the Bureau of Public Procurement (BPP). Contracts worth N5,677,692,943.26 were reportedly awarded in violation of procurement regulations.

The BPP’s response to TCN’s request for “NoObjection” for 285 contracts revealed that 33 contracts violated the Procurement Act by not qualifying as emergencies. TCN was directed to formally request these projects through Direct Procurement, ensuring firms meet eligibility requirements. Due Process “No Objection” was denied for 33 contracts, while approval was granted for 252 contracts meeting emergency procurement criteria.

The BPP cautioned against future misuses of procurement methods, emphasizing potential severe sanctions. TCN’s public relations officer, Ndidi Mbah, did not respond despite receiving the BPP’s document, and no official TCN response was provided at the time of reporting.

Read: AI-Driven Disinformation, the Most Immediate Threat to Global Economy- WEF

About The Author

Written by
Ikenna Churchill

Culture storyteller

Related Articles

Ghana's March Inflation
BusinessNews

Ghana Slashes Interest Rate by 3% as Inflation Drops and Cedi Strengthens

Ghana’s central bank has cut its benchmark interest rate by 3 per...

BusinessNews

Manufacturers Warn FG: Don’t Confuse Nominal GDP Growth with Real Economic Progress

The Manufacturers Association of Nigeria (MAN) has cautioned against interpreting the nominal...

FinanceNewsOpinion

NBS Releases Rebased GDP, But Tinubu’s Government Still Fails to Deliver Real Growth

The National Bureau of Statistics (NBS) has officially released Nigeria’s rebased Gross...

FinanceNews

Niger Unveils Major Tax Overhaul with New General Tax Code Effective in 2026

Niger has adopted a new General Tax Code, scheduled to take effect...