By Tina Amanda
The Port Harcourt Electricity Distribution Company (PHED) has strongly denied accusations of misappropriating N4.3 billion, labeling the claims as baseless and an attempt to tarnish the company’s leadership.
In an official statement, PHED addressed allegations circulating on social media, which accused the company’s Technical Partner, Engr. Matthew Edevbie, Board Chairman, Engr. Olice Kemenanabo, and other senior officials of financial misconduct.
The company highlighted that these claims aim to discredit individuals who played a pivotal role in removing corrupt officials from the management team earlier in April 2024.
“The Board and Management of PHED have been made aware of these unfounded allegations. These claims are nothing more than fabrications designed to undermine the credibility of key figures who have been instrumental in addressing past challenges.
“These claims suggest that N4.3 billion was misappropriated by Technical Partner Engr. Matthew Edevbie, Board Chairman Engr. Olice Kemenanabo, and other management staff.
“These accusations are entirely unfounded, malicious, and designed to undermine the credibility of the Chairman, Technical Partner, and key management personnel who have been instrumental in addressing past issues.”
PHED reiterated its commitment to transparency and maintaining the integrity of its leadership.
 has strongly denied accusations of misappropriating N4.3 billion,){kind=link}