The Board and management of the Port Harcourt Electricity Distribution Company, PHED, has described as fallacious, insinuations by an online medium that about N4. 3 billion was misappropriated by some top shots in the company.
PHED, in a statement, said purveyors of such news are only out to discredit the Technical Partner, the Board Chairman and the management team of the company.
PHED described the allegations as unfounded and malicious.
“The Board and Management of PHED have noted a false allegation circulating on social media, particularly an online publication called informantnline.com, which claims that N4.3 billion was misappropriated by Technical Partner, Engr. Matthew Edevbie, Board Chairman, Engr. Olice Kemenanabo, and other management staff.
“These accusations are completely unfounded, malicious, and intended to discredit the Chairman of the Board, Technical Partner, and other key management staff members who played crucial roles in addressing past issues that led to the removal of some management staff who were involved in various malfeasance in April 2024.
“While such baseless claims do not merit a detailed response to glorify the authors and their collaborators, the Board finds it necessary to clarify the situation. The governance structure of PHED is designed to prevent such misconduct, and we have full confidence in the integrity of Engr. Edevbie and Engr. Kemenanabo, whose professional conduct remains exemplary.
“We therefore urge the public and our critical stakeholders to disregard these false claims. We are, however, committed to investigating the source of this damaging misinformation and addressing it appropriately, ” the statement read.
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