AMCON Appoints A New Receiver Manager For Ibadan DisCo

22 Jan AMCON Appoints A New Receiver Manager For Ibadan DisCo

The Assets Management Corporation of Nigeria (AMCON) has appointed Kunle Ogunba as a new Receiver Manager (RM) for the Ibadan Electricity Distribution Company (IBEDC) Ltd.

The Chief Operating Officer (COO), 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.

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.

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.