January 21, (THEWILL) – The Assets Management Corporation of Nigeria (AMCON) has appointed Kunle Ogunba Esq as a new Receiver Manager (RM) for the Ibadan Electricity Distribution Company(IBEDC) Ltd.
The Chief Operating Officer (COO), Engineer John Ayodele confirmed the development in a memo to members of staff.
IBEDC distributes electricity to consumers in Oyo, Osun, Ogun, and Ondo as well as some parts of Ekiti and Kwara States.
According to findings by THEWILL, The DisCo, owned by late Oil mogul, Captain Hosa Okunbo and Tunde Ayeni fell under receivership by a September 8, 2021, Federal High Court judgement.
The judgement granted preservative orders in favour of AMCON.
Following the development, AMCON had in the last quarter of 2021, appointed Giwa Osagie (SAN) as Receiver Manager for the IBEDC.
THEWILL further learnt that Osagie, recused himself, a development that may not be unconnected to the fact that he, as an indegene of Edo State and particularly, from Benin would not want to be associated with selling assets of a deceased brother (Okunbo) from the same locality.
However, in a memo, dated January 20, 2022, IBEDC explained that AMCON has appointed a new Receiver Manager to oversee the company.
Ayodele disclosed that the receiver arrived on Thursday, January 20 to take charge formally, hinting that he already held a meeting with the management staff.
He however, allayed fears over the development and assured staff of job security.
The memo reads: “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, (being the Receiver/Manager of Integrated Energy Distribution and Marketing Limited); 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.
“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.”
