The Governor of Edo State, Monday Okpebholo has alleged that the 2023 presidential candidate for the Labour Party, Peter Obi is responsible for the electricity blackout witnessed across the state.
The governor who joined Edo residents to protest the prolonged blackout said the Edo State government has nothing much to offer its residents in terms of electricity.
Addressing the protesters, the governor noted that the Edo State government does not have much control or stake in the Benin Electricity Distribution Company (BEDC).
He further stated that the largest beneficiary and investor of the company is Fidelity Bank.
He said, “Its not government-owned property. Even though Edo State, Ondo, Ekiti, and Delta, we have a stake but it’s just very small, the percentage is very small. So we do not have control over BEDC.
“Fidelity Bank owns a half ledger share of BEDC, they have better stake in BEDC. Now, I don’t want to ask who owns Fidelity Bank or who are the owners of Fidelity Bank. I leave that to you to answer.
“Tomorrow, they will tell you I don’t have anything,” Okpebholo said referring to Obi who always capitalises on his frugality and lack of interest for material things.
Recall that Obi who served as the Chairman of Fidelity Bank is also perceived as an individual who was quite instrumental in the growth of the bank.
While there have been a series of speculations surrounding its owners, Obi in 2025 publicly stated that he does not own Fidelity Bank.
While critics have accused him of maintaining significant interests in Fidelity Bank, especially for depositing state funds there while he was governor, Obi clarified that the bank has over 500,000 shareholders
