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    MarketForces Africa » MarketForces News » IBEDC Recorded 8,000 Energy Theft Cases in 10 months – MD

    IBEDC Recorded 8,000 Energy Theft Cases in 10 months – MD

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiNovember 26, 2024 News No Comments2 Mins Read
    IBEDC Recorded 8,000 Energy Theft Cases in 10 months – MD
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    IBEDC Recorded 8,000 Energy Theft Cases in 10 Months—MD

    Ibadan Electricity Distribution Company (IBEDC) says it recorded 8,000 cases of energy theft, including meter bypass and illegal meter tampering, between January and October within its network.

    IBEDC’s acting managing director, Mr. Francis Agoha, stated this in a statement issued on Tuesday in Ota.

    Agoha said that the development had resulted in financial losses running into hundreds of millions of naira.

    He said that consequent upon the challenge, IBEDC had partnered with the Special Investigative and Prosecution Task Force (SIPETO) to curb energy theft within its network.

    According to him, IBEDC is committed to identifying, investigating, and prosecuting individuals involved in energy theft.

    “IBEDC has zero tolerance for energy theft, highlighting the severe consequences for offenders.

    “Also, energy theft is a significant challenge that impacts our ability to provide reliable service to our customers.

    “We are, therefore, intensifying our efforts through partnerships like this to ensure that those who engage in such practices face the full force of the law,” he said.

    Agoha said that the partnership with SIPETO to check energy theft would not only enhance its capacity to detect and prosecute offenders but also send a strong message that energy theft would not be tolerated.

    According to him, energy theft undermines the integrity of the company’s operations and deprives it of the resources needed to improve service delivery.

    The acting managing director urged customers to refrain from any form of energy theft, warning of the severe penalties, including imprisonment, as stipulated by Electricity Act.

    He, however, assured customers that SIPETO patrols were active, vigilant, and investigating reported cases thoroughly.

    “For more information or to report instances of energy theft, customers are encouraged to contact IBEDC’s customer service line or visit the company’s website: www.ibedc.com,” Agoha said. #IBEDC Recorded 8,000 Energy Theft Cases in 10 Months—MD #


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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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