The Asset Management Corporation of Nigeria (AMCON) has formally takeover the Ibadan Electricity Distribution Company (IBEDC). Mr Kunle Ogunba SAN, has been appointed as the Receiver/Manager.

AMCON is acting on the judgment of a Federal High Court on September 8, 2021, which granted orders in favor of AMCON as Receiver/Manager of Integrated Energy Distribution and Marketing (IEDM) Limited, IBEDC’s core investor, over default in Loan Service Agreemen