The managing director of IBEDC, Kingsley Achife, disclosed in a statement on Wednesday in Ibadan that the upgrade would take effect on August 1.
The suspect usually approaches his victims on the pretext of being a staff of the Benin Electricity Distribution Company (BEDC).
A power expert, Kola Balogun, says the first phase (Phase zero) of the National Mass Metering Programme (NMMP) can create 500,000 jobs.
The company said the process of installing prepaid meters was ongoing and not discontinued as being insinuated by some persons.
The Nigerian Electricity Regulatory Commission (NERC) says over one million Nigerians have received prepaid meters.
