NLC Alleges Systematic N20 Billion Looting Scheme at TCN

​​​​​​The Nigeria Labour Congress (NLC) has raised an alarm over an alleged plot to embezzle ₦20 billion within the Transmission Company of Nigeria (TCN). In a strongly worded statement, the labor union claimed to have uncovered documents suggesting that the funds were being diverted under the guise of questionable projects and consultancies.

​​​The NLC leadership has called for an immediate and transparent investigation into the financial activities of the TCN. According to the union, the alleged looting is particularly egregious given the persistent failures in the national power grid and the economic hardship faced by Nigerian workers.

​​​​​​​TCN management has yet to provide a detailed rebuttal to these specific allegations, but the NLC has vowed to mobilize its members if the government fails to act. The union argues that the "rot" in the power sector is fueled by systemic corruption that prevents any meaningful progress in electricity distribution.

​Anti-corruption activists have joined the call for a forensic audit of the TCN’s accounts. They argue that the power sector has swallowed trillions of naira over the decades with little to show for it in terms of stable supply, and the NLC’s allegations must be taken seriously to prevent further waste of public funds.

​​​​The Federal Ministry of Power is under pressure to respond to these claims. As the NLC threatens to take further action, the spotlight remains on the TCN to prove its financial integrity and demonstrate that resources meant for infrastructure are not being siphoned by a few individuals.