The Transmission Company of Nigeria said on Sunday that it had suspended Kano Electricity Distribution Company from the Market Operator-administered market.

The TCN said the suspension was due to “an event of default” that was not remedied.

It said on its Twitter handle that KEDCO failed to increase its security cover in accordance with the market rules.

The TCN said the intake of KEDCO from the grid had been restricted through a disconnection order to the Transmission Service Provider as some facilities would be disconnected.

According to the TCN, security cover when so required of an amount established by the Market Operator to serve as a form of guarantee of payment for all amounts due from the participant to the MO.