..Saves Nigeria N92b
The Bureau of Public Service Reforms has awarded the Nigerian Electricity Liability Management Company a gold level rating following the outcome of Self Assessment Tool (SAT) as mandated by the Federal Government.
This is coming as NELMCO revealed how it has saved the Federal Government N92 billion naira through various innovations in the management of assets and liability of defunt power holding of Nigeria.
The Director General of Bureau Of Public Service Reforms , D.I Arabi while making the presentation in Abuja to the Managing director OF NELMCO, Adebayo Fagbemi said NELMCO submitted its operation to SAT and was adjudged exceptionally satisfactory on all indices.
According to Arabi, the BPSR deployed SAT in NELMCO corporate headquarters, Abuja in March 2020 after which the Self-Assessment report was generated, adding that “the BPSR also undertook a validated assessment, where key documents of NELMCO were verified.
“NELMCO performance was rated as consistently meeting expectations in all essential areas of responsibilities, at times exceeding expectations as the quality of work is generally good. The most critical organizational goals were met. BPSR were pleased and awarded NELMCO GOLD level Award- A Public Service Agency that ‘Meets Expectations’, the Director General said.
Extolling the SAT as a mechanism to check and improve performance of the organization, the DG said the Federal Government issued a directive vide circular BPSR/SGF/SAT/01/V.1 dated November 18th , 2019 making mandatory for the deployment of the SAT in all MDAs to further strengthen the process of delivering service to the citizens.
While noting that only NELMCO submitted itself for SAT in the power sector , Arabi expressed gratitude to the Managing Director of NELMCO, and his management team for the opportunity offered the BPSR to deploy the self-assessment tool at NELMCO in line with the Federal government Directives.
Responding, the NELMCO MD expressed appreciation to the Bureau of Public Service Reforms and the management if Federal Ministry of Power ,affirming that the award is a challenge for him and his team to work harder to support the realisation of Federal Government agenda in the power sector.
Recalling the mandate of the agency, Adebayo said NELMCO achieved a lot within the period of its existence , listing the agency achievements as including ensuring reconciliation and recoveries of funds from the market operator; recoveries of fund from the superannuation fund; valuation of transferred PHCN assets; recoveries of overtime containers; ecoveries of MDA debts; reducing 1,472 PHCN legal cases transferred to NELMCO to 490 after a nationwide due – diligence, saving the nation billions of naira.
Others include reducing cases to 420 through negations through out of court settlement; winning majority of her litigation, in favor of Federal Government of Nigeria; comprehensive legal audit of all cases ; execution legal search and due diligence of the non – core asset transferred to NELMCO to guide the non – core assets committee in the disposal of the assets; Implementation of Electronic Documentation Management Systems (EDMS).
The agency has also saved about 92 billion naira for Federal Government of Nigeria through triangular model verification of liability of PHCN; saved the PHCN successor companies from encumbrances and possible litigation arising from huge legacy debts, staff pensions, supplies and Third party liabilities among others.
Mr. Fagbemi said NELMCO “is to give comfort to the power sector as to characterization of liability and assets.”
