![\"\"](\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/01\/IBEDC.png\")
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The Assets Management Corporation of Nigeria (AMCON) has taken over the Ibadan Electricity Distribution Company(IBEDC) Ltd over insolvency.<\/p>\n
The Chief Operating Officer (COO) Engineer John Ayodele disclosed this in a memo to members of staff intimating them of the development.<\/p>\n
Ayodele, in the January 20 memo, said the company fell under receivership by a September 8, 2021 Federal High Court judgment.<\/p>\n
Advertisement<\/span><\/p>\n The judgment, he said, granted preservative orders in favour of AMCON.<\/p>\n<\/div>\n He explained the government corporation has appointed a lawyer to serve in the receivership action.<\/p>\n 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.<\/p>\n The memo reads: \u201cFurther, to the judgement wherein the Federal High Court on the 8th of September 2021 granted preservative orders in favour of Asset Management Corporation-<\/p>\n 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.<\/p>\n \u201cBased 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.<\/p>\n \u201cWe are assured of job security which entails our position\/ duties in the company, being entitlements to our salaries and other benefits etc.<\/p>\n \u201cOn behalf of the Management I urge us all to kindly go about the efficient discharge of<\/p>\n our duties to ensure a speedy and mutually beneficial resolution.<\/p>\n \u201cI wish us all the best, while | appeal that we continue to remember IBEDC in our prayers.\u201d<\/p>\n IBEDC distributes electricity to consumers in Oyo, Osun, Ogun and Ondo as well as some parts of Ekiti and Kwara States.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" 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. Ayodele, in the January 20 memo, said the company fell under receivership by a September […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[],"class_list":["post-918518","post","type-post","status-publish","format-standard","category-headlines"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/918518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=918518"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/918518\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=918518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=918518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=918518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Ayodele, however, allayed fears over the development and assured staff of job security.<\/span><\/h4>\n