The Assets Management Corporation of Nigeria has taken over the Ibadan Electricity Distribution Company.
Our correspondent gathered that the development was announced to workers of the electricity distribution company by the Chief Operating Officer, John Ayodele, in a memo dated January 20, 2022.
Ayodele, according to the memo, explained that the company was insolvent hence the takeover.
The development was said to have triggered panic among the workers but the chief operating officer assured them that their jobs were secure.
The memo read, “Further, to the judgement wherein the Federal High Court on September 8, 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 Ogunba SAN to act as receiver/ manager nominee in the receivership action.
“Based on the foregoing the receiver/manager came in today January 20, 2022 (Thursday) 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.”
Efforts to get the Manager, Branding and Communications, IBEDC, Mr Frank Williams, were unsuccessful as calls did not connect to his phone and he had yet to reply to the messages sent to him on the matter. (Punch)
