Four officials linked to the defunct Power Distribution Services (PDS) Ghana Limited, the company that took over the operation of the Electricity Company of Ghana (ECG) under a concession arrangement, were last week arrested by the Bureau of National Investigations (BNI) for their alleged involvement in the transfer of GH₵850 million from ECG’s CalBank account.
The funds were allegedly transferred during arbitration proceedings in London between ECG and PDS, following the termination of the concession by the previous administration due to a faulty demand guarantee presented by PDS.
Minister of State in charge of Government Communications, Felix Kwakye Ofosu, revealed this on Monday, May 4, in a statement posted on X.
The four individuals are Philip Ayensu, Viraj Phat, Sophia Korkor, and Justice Menka-Premoh.
According to the minister, all four suspects have since been granted bail while investigations continue.
“The Bureau of National Investigations (BNI) arrested the following persons affiliated with PDS last week as part of investigations into the transfer of large sums of money believed to belong to ECG,” the statement read.
“The quartet have since been granted bail pending further investigations,” the minister’s post added.
Speaking on Accra-based Citi Eyewitness News on Monday, Benjamin Alfa Aidoo, Spokesperson for the Attorney-General and Ministry of Justice, stated that the four individuals have been officially charged but granted bail.He, however, declined to provide further details of the ongoing investigation, saying:
“The investigation officers want to understand the full circumstances under which these funds left these accounts. They need to call various persons who they believe may have played a role in the depletion of these accounts.”
He added:”These four individuals were initially invited for questioning, granted bail, and further investigations will follow.”
When asked how much money was transferred, Aidoo confirmed it was GH₵850 million belonging to ECG, which had been in their CalBank account.
He further explained the context of the case: “During a transitional arrangement, reconciliation was supposed to be done for the transfer of assets and liabilities. Pending that arrangement, PDS took the matter to arbitration, and it was expected that arbitration would preserve the status of both assets and liabilities for both parties. After ECG won the arbitration and returned to the account, they could not locate these funds. It appears these funds were intentionally depleted, and that is the focus of the ongoing investigation.”
Meanwhile, attempts to reach Mr. Phillip Ayensu, one of the officials of PDS has proved futile, as his phone was switched off.
Hichilema added that achieving the country’s target of 10,000 megawatts of electricity is critical, especially as sectors such as mining, agriculture, and tourism continue to demand more power.
He revealed that the mining sector alone would require about 8,000 megawatts to meet the target of producing three million tonnes of copper.
Meanwhile, Copperbelt Energy Corporation (CEC) board chairperson London Mwafulilwa described the commissioning of the 136-megawatt Itimpi II Solar Plant as a historic milestone, not only for the Copperbelt but for Zambia and the region.
“This project is not simply a corporate milestone; it is a national statement that Zambia can lead Africa’s clean energy transition,” Mwafulilwa said.
The board chairperson disclosed that the project had a direct impact on livelihoods, creating over 2,500 jobs during construction and more than 100 permanent positions for engineers and technicians.
CEC Chief Executive Officer Owen Silavwe noted that the 136-megawatt solar plant, built over 14 months, is currently the largest of its kind in the country and will generate about 275 gigawatt-hours of electricity annually.
“At a time when it matters most, this project will help close the national power supply gap and support key sectors such as mining and manufacturing,” Silavwe said. 
What the band structure reveals
Bands D and E — the tariff categories serving the poorest Nigerians — are priced at just ₦35–37/kWh. These rates are 84–85% below the global average. At this level, no Distribution Company (DisCo) can generate the revenue needed to maintain infrastructure, let alone upgrade it. The result is a self-fulfilling cycle: the lowest-paying customers receive the worst service, reinforcing the very poverty the low tariff was meant to address.
The argument for reform
Artificially suppressed tariffs do not protect vulnerable Nigerians — they guarantee that the grid never improves enough to reach them reliably. A cost-reflective tariff structure, paired with targeted subsidies for genuinely low-income households, would unlock private investment, drastically reduce Nigeria’s dependency on the generator economy, and begin to close the gap between what the grid charges and what it costs to actually deliver power.
The numbers make the case with brutal clarity: Nigerians are already paying for electricity — just to the wrong system
Adetayo Adegbemle is a public opinion commentator/analyst, researcher, and the convener of PowerUpNigeria, an Electric Power Consumer Right Advocacy Group, based in Lagos. (Twitter: @gbemle, @PowerUpNg) 
Following the fire, the Energy Minister and his deputy visited the site and assured Ghanaians that engineers would work around the clock to restore the plant to full operation. He kept the public updated on the restoration exercise.
In his latest update, the Energy Minister said: “In the face of a major system disruption, and against all odds, our engineers, technicians, and emergency teams worked around the clock to restore power and stabilise the grid.
“Through their tireless work, discipline, and commitment to country, power has been restored and system stability secured,” he added.
Dr. Jinapor also expressed appreciation to the leadership and staff of GRIDCo, VRA, the Electricity Company of Ghana (ECG), and all supporting agencies whose coordination made the power restoration possible.
Drawing inspiration from the engineers’ efforts, he said, “This moment shows that even under pressure, Ghana can rely on the strength and skill of its people.”
“May God bless our engineers, our energy sector, and our nation,” he concluded.
Meanwhile, addressing Ghanaian workers during May Day celebrations held at Jackson Park in Koforidua on Friday, May 1, 2026, the President said the facility is now fully operational after engineers successfully resolved the technical challenges caused by the incident.
“Just yesterday, I was in Akosombo, here in the Eastern Region, to inspect the damage at the Volta River Authority electricity generation station following the devastating fire in the switchyard control room,” he said.
He continued: “I know many of you are concerned about the disruptions to electricity supply caused by the Akosombo fire, but I want to share the good news that GRIDCo and VRA engineers, working together, have been able to bypass the burnt-out control room and have restarted all six turbines at the Akosombo Generating Station.”