UBA, Polaris takeover of AEDC, IBEDC becomes popular template for discourse at lenders’ Boardroom Commercial banks in Nigeria are now perfecting plans to takeover electricity distribution companies in the country as N860 billion debts burden weigh down on lenders. Platforms Africa reports that the banks provided funds to the 11 electricity distribution companies for the acquisition of majority shares in government’s power utilities during the November 1, 2013 privatisation exercise. The owners of the 11 discos, according to the Bureau of Public Enterprises (BPE), had paid the Nigerian Government $1.26billion…
Read MoreDisCos Fret As Banks Perfect Assets’ Takeover Over N860bn Debt
