Nigerian Electricity Regulatory Commission, NERC, said it is set to sanction Market Operator, MO, for operating unilateral bank account.

NERC’s Head, Public Affairs, Dr. Usman Abba- Arabi, in a statement stated that already a Notice of Commencement of Enforcement Action had been issued on the Market Operator for the unilateral bank account.

According to the state ment, the notice gave the erring MO seven days ultimatum to take remedial actions by winding down operation of the unilateral bank account and report compliance, failure which it faces disciplinary action from the Commission.

MO is a division of the Transmission Company of Nigeria,

TCN, which issues market settlements and invoices due to the market participants and service providers in the Nigerian Electricity Supply Industry, NESI. TCN, which is currently under contract management of Manitoba Hydro of Canada, is a licensee of NERC.

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