PanNigerianNews 
The Federal Government has approved the takeover of Ibadan Electricity Distribution Company (IBEDC) and restructured the board.
This was contained in a statement jointly signed on Tuesday by the Executive Chairman of the Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba, and Director-General of the Bureau of Public Enterprises (BPE), Alex Okoh.
In January, Asset Management Corporation of Nigeria (AMCON) took over the assets of IBEDC for defaulting on a loan facility.
With the takeover of Ibadan DISCO by AMCON, the BPE has obtained approval from Nigerian Electricity Regulatory Commission (NERC) to appoint Kingsley Achife as the interim Managing Director.
In a temporary capacity the leadership of AMCON will be a placeholder Board for the Ibadan franchise (Ahmed Kuru – Chair, Eberechukwu Uneze — Member, Aminu Ismail — Member).
Oluwaseyi Akinwale will represent the interest of Government on the Board alongside the DG of BPE.
The government also approved Fidelity Bank’s takeover of Kano Electricity Distribution Company (KEDCO), Ibadan Electricity Distribution Company (IBEDC), Benin Electricity Distribution Company (BEDC), Kaduna Electric, and Port Harcourt Electricity Distribution Company (PHED).
