Vice President Kashim Shettima has cautioned members of the National Council on Privatisation, NCP, to conduct all transactions with credibility, stating that he would not wish to be called upon in future to account for any financial impropriety.

Shettima, who also serves as chairman of the NCP, gave the warning on Wednesday during the 2nd NCP Meeting for the year 2025, held at the Presidential Villa, Abuja.

He highlighted the risk of litigation, stressing the need for rigorous oversight on all transactions to prevent financial losses to the nation.

While interacting with officials, he said, “our legal committee must ring-fence every one of these transactions.

“We are almost always vulnerable to arbitration and being shortchanged. Every transaction must be subjected to microscopic scrutiny so that ten years down the line, we will not be called upon to offer explanations as to how we conducted the transaction.”

While presiding over the meeting, the Vice President reviewed several major privatisation initiatives, including the divestment of shares in Ibadan Disco by acquisition lenders, the delineation of assets and liabilities for the Transmission Company of Nigeria, and a review of the concession agreement for Zungeru Hydroelectric Power Plc.

The council also received updates on the World Bank’s $500 million Distribution Sector Recovery Programme, DISREP, as well as updates on various dispute settlements involving power sector entities and the Bureau of Public Enterprises.

https://dailypost.ng/2025/07/02/shettima-urges-national-council-on-privatisation-to-conduct-all-transactions-with-credibility/