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Friday, January 21, 2022 / 03:45 PM / by Bisi Oladele of The Nation / Header
Image Credit: Punch
The Assets Management Corporation of Nigeria (AMCON)
has taken over the Ibadan Electricity Distribution Company (IBEDC) Ltd over
insolvency.
The Chief Operating Officer (COO) Engineer John
Ayodele disclosed this in a memo to members of staff intimating them of the
development, The Nation gathered.
Ayodele, in the January 20 memo, said the company fell
under receivership by a September 8, 2021 Federal High Court judgment.
The judgment, he said, granted preservative orders in
favour of AMCON.
He explained the government corporation has appointed
a lawyer to serve in the receivership action.
He disclosed that the receiver arrived on Thursday
January 20 to take charge formally, hinting that he already held a meeting with
the management staff.
Ayodele, however, allayed fears over the development
and assured staff of job security.
The memo reads: "Further, to the judgement wherein the
Federal High Court on the 8th of September 2021 granted preservative orders in
favour of Asset Management Corporation-AMCON, (being the Receiver/Manager of
Integrated Energy Distribution and Marketing Limited); the court has appointed
Mr Kunle Oqunba Esq.SAN to act as Receiver/ Manager Nominee in the receivership
action.
"Based on the foregoing the Receiver/Manager came in
today 20th January 2022 to the IBEDC Headquarters to take charge formally and
subsequently met with the Management team. Therefore, I hereby wish to inform
all staff that there is no cause for alarm.
"We are assured of job security which entails our
position/ duties in the company, being entitlements to our salaries and other
benefits etc.
"On behalf of the Management I urge us all to kindly
go about the efficient discharge of our duties to ensure a speedy and mutually
beneficial resolution.
"I wish us all the best, while | appeal that we
continue to remember IBEDC in our prayers".
IBEDC distributes electricity to consumers in Oyo,
Osun, Ogun and Ondo as well as some parts of Ekiti and Kwara States.
Credit:
The post; AMCON
Takes Over IBEDC first appeared in TheNation on January 21, 2022.
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