The federal government says Fidelity Bank Plc has commenced plans to finalise the takeover of Benin, Kano and Kaduna electricity distribution companies Sanusi Garba, chairman, Nigerian Electricity Regulatory Commission and Alex Okoh, director-general, Bureau of Public Enterprises , said this in a statement on Tuesday.
“Today, we were informed by Fidelity Bank that they have activated the call on the collateralized shares of Kano, Benin, and Kaduna DISCOs and that they have initiated action to take over the Boards of these DISCOs and exercise the rights on the shares,” the statement reads. Also, KC Akuma, chairman; Adeola Ijose, member and Charles Onwera; member, were said to be new board members for Benin DisCo, while Abbas Jega, chairman; Ameenu Abubakar, member and Marlene Ngoyi, member; as board members of Kaduna DisCos.
“We have also received assurances that Fidelity Bank will participate fully in all the ongoing market initiatives aimed at improving the sector .”
Source: News Formal (newsformal.com)
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