Tag: AMCON takes over Ibadan disco

  • AMCON takes over Ibadan disco

    AMCON takes over Ibadan disco

    —

    by

    Starnews NG
    in

    The assets of Ibadan Electricity Distribution Company (IBEDC) have reportedly been taken over by the Asset Management Corporation of Nigeria (AMCON) for defaulting on a loan facility. Integrated Energy Distribution and Marketing (IEDM) Limited, the core investor of IBEDC, and other investors own 60 per cent of the utility company while the government controls 40…