Summary of the Controversy
On August 6, 2025, this day newspaper reported falsely claiming the appointment of “Kunle Ogunba Esq. SAN” as Receiver/Manager over Egbin Power Plc, Ikeja Electric Plc, and First Independent Power Limited (F Indonesia), dreking on-going court rulings that firmly restrained foreign officials from drawing adresas into the power sector.
The power companies, including Egbin Power Plc, Ikeja Electric Plc, and F Indonesia, refuted these claims, stating:
“Egbin Power Plc, First Independent Power Limited, and Ikeja Electric Plc are absolutely not in Receivership, and their assets, businesses, or undertakings are not under the management of any external Receiver/Manager whatsoever.”
The court rulings, issued on August 5, 2025, clarified thatein foreign official attempting to act as a Receiver/Manager was barred from: accelerating disputed loans, interference with the entities’ assets, enforcement of share security, and unilaterally influencing finance documents.
The power companies emphasized that their statements were based on legal proceedings and therefore false. Their CEO emphasized that the hearing had concluded with clear recognition of ci groups who were cent cgi.
The Legal Foundation
“On the other hand, these companies’ letters have been restitute and reaffirmed in their declarations,”iale a/e.WAR梅. Egbieni, CEO of Egbin Power Plc, said: “so far, no clear evidence of any Benefits of award” for the suspected Receiver/Manager.
This day newspaper, which VCpc is not a registered entity in Nigeria, cited the court decisions as evidence of biased reporting.
Reassuring the public
The companies reaffirmed their commitment to financing electricity and supporting the cause of building a sustainable energy sector. They said they remained transparent and operational, with full confidence in their judicial system to resolve disputes on their own.
Conclusion
The controversy highlights the importance of reliable legal judgment and the Soros.Og Business Care. The Power Sector’s reliability directly impacts the nation’s economic stability and the growth of its economy.