By Modupe Gbadeyanka
The Transmission Company of Nigeria (TCN) has been directed to pay N47.6 million as fine for failing to submit 2013 and 2014 audited financial statements.
This order was given by the Nigerian Electricity Regulatory Commission (NERC).
Vanguard reports that the TCN, according to the regulatory agency, has up to two weeks to pay the fine, beginning from December 2, 2016, when the directive was signed.
The fine attracts five percent interest daily after the due date.
The document to this effect, with reference number NERC/Directive/160, was signed by the acting Chairman, Dr. Anthony Akah, and General Manager, Legal, Licensing and Enforcement, Mrs Olufunke Dinneh, respectively.
more recommended stories
Asian Shares Decline in Mute Trading Session
By Investors Hub Asian stocks ended.
European Stocks Extend Gains Ahead of Next Week’s Fed Meeting
By Investors Hub European stocks have.
US Equities Open Higher as Traders Shrug off US-China Trade War
By Investors Hub The major U.S..
S&P Sees “Very High Levels of Corruption” in Nigeria, Affirms Ratings
By Modupe Gbadeyanka Renowned rating agency,.