Nigerian power distribution company Ikeja Electric Plc has found new ways to recover monies owed to it by its customers.In West Africa, Ikeja Electric has introduced an innovative strategy dubbed Debt Discount Initiative that will make it easier for its customers to pay off their outstanding bills, reports local media.

The company explained that the initiative is planned specifically for unmetered Non-Maximum Demand (NMD) customers to provide an avenue that will support customers who are financially constrained.

The corporation further explained that this programme will offer various percentage discount options, enabling customers to pay off their outstanding bills and meet their financial obligations to the company.

Ikeja Electric’s head of corporate communications, Felix Ofulue, commented: “We decided to introduce this scheme as a form of financial support to our customers who are willing to pay down on outstanding amounts owed us. By providing this discount to them, we also share part of the cost of the consumed energy."

Ofulue added: “The three tier scheme provides a 10% discount for customers who owe between N50,000 ($155) and N100,000 ($310); 15% discount for those owing above N100,000 ($310), but less than N200,000 ($621); and 20% discount for customers who owe above N200,000.

Customers must apply at Ikeja Electric offices

He, however, stated that customers will be required to apply to the company, clearly stating whether they wish to participate in the outright or instalment debt discount exercise.

Equally, interested customers are encouraged to visit various service centres, undertakings or business units closest to them for more details with regard to their application.

Ofulue noted: “So far, the response has been good and a further testimony to the fact that many of our customers are responsible citizens who, given the right circumstances, will rather pay than owe [debt].

The company's efforts at easing transactions and payment options for customers was recently recognised at the 2016 Efficiency Awards, organised by the Nigeria Interbank Settlement Scheme (NIBSS Plc) where Ikeja Electric bagged the prestigious Cashless Driver Merchant Award.