Power Companies Clear the Air: “We Are Not in Receivership”

In a bid to put an end to circulating rumours, Ikeja Electric Plc, Egbin Power Plc, and First Independent Power Limited (FIPL) have firmly denied claims that they are under receivership.

This clarification came through a statement issued by Babatunde Osadare, the Chief Legal and Regulatory Officer of Ikeja Electric, on behalf of the management of the affected power firms. He emphasized that recent media reports suggesting the appointment of a Receiver/Manager — specifically Kunle Ogunba SAN — are completely false.

Osadare explained that no such appointment has been made and that the companies remain fully operational and in control of their affairs. He further highlighted that the court has issued a clear warning against any "adverse actions" by any party that could disrupt the operations or reputation of the companies.

According to him, these power firms are committed to delivering electricity to Nigerians and will not be distracted by misleading narratives.

This development serves as a reminder for the public and media outlets to verify sensitive claims before publication, especially those with the potential to cause confusion or alarm in critical sectors like power supply.

In simple terms, Ikeja Electric, Egbin Power, and FIPL are not in any form of legal takeover. Business continues as usual.