The Asset Management Corporation of Nigeria (AMCON) has given details of how it executed the takeover of Integrated Energy Distribution and Marketing (IEDM) Limited, the core investor of Ibadan Electricity Distribution Company (IBEDC), following a default in a loan servicing agreement executed with Polaris Bank. Platforms Africa reports that the agency conveyed the change of baton in the electricity firm in a public notice, where it also disclosed that it had appointed Mr. Osayaba Giwa-Osagie (SAN) to take over the entire undertakings, assets of IEDM including shares and interests in…
Read MoreHow IEDM Default in Polaris Bank Loan Caused Asset Takeover in IBEDC, 25 Banks – AMCON
