Billionaire businessman, Mr. Tunde Ayeni, has taken back the control of the Ibadan Electricity Distribution Company (IBEDC) Limited from the Assets Management Corporation of Nigeria (AMCON).
Ayeni confirmed to The Star that the issue has been resolved. “We have resolved the issue,” Ayeni said on Saturday.
Ayeni’s Integrated Energy Distribution and Marketing Limited is the owner of IBEDC until Thursday January 20 when AMCON took over the control of the electricity firm through a receivership.
Chief Operating Officer (COO) of IBEDC, Engr. John Ayodele, in a memo to the staff, a copy of which was made available to The Star, confirmed that status quo ante is maintained. That IBEDC returns to its original owners prior to the firm coming under receivership on January 20.
The memo reads: “Further to the communication earlier sent on 20th January 2022, in respect of the above, kindly note that the investors have resolved on way forward with AMCON and status quo ante maintained.
“I am aware there had been a lot of misinformation in the press in respect of the above and hope the press will also give this prominence.
“On behalf of the Board and Management, I urge all of us to go about our normal duties while we count on your unflinching commitment and dedication to ensure our revenue collection for this month and excellent service to customers are not compromised going forward.”
IBEDC supplies electricity to Oyo, Osun, Ogun and Ondo consumers as well as parts of Ekiti and Kwara states.
The CEO had on Thursday told staff of the company coming under receivership.
The memo had read: “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 I appeal that we continue to remember IBEDC in our prayers.”
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