Ibadan Electricity Distribution Company allays workers' fears over AMCON takeover

The development was said to have triggered panic among the workers but the chief operating officer assures them that their jobs were secured.

The memo read, “Further, to the judgment wherein the Federal High Court on the 8th of September 2021 granted preservative orders in favour of Asset Management Corporation, AMCON, ; the court has appointed Mr Kunle Ogunba 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.

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AMCON takes over Ibadan Electricity Distribution Company over insolvencyThe Assets Management Corporation of Nigeria has announced the takeover of the Ibadan Electricity Distribution Company Ltd due to insolvency. Turning, turning the widening gyre ... Hope this will not affect power supply negatively as power has been switched off in my area since around 3pm today Them go soon carry this nepa give Colonian master
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