BEDC TAKEOVER: Osibudu Disappointed, describes Arrest Attempts As Illegal.

Crusaderhotnews 

Eben Enasco Reporting.

The Managing Director of Benin Electricity Distribution Company, BEDC, Funke Osibudu says she's gutted by the move to force her out of office despite the takeover bid currently being a subject of court litigation.

Her reaction is coming, following the recent attempts to arrest her by the new management team led by

Dr. Henry Ajagbawa, at the Head office of the distribution company in Benin City on Monday, in a bid to take over its operations.

Operations had resumed on Monday Morning shortly after the weekend when fiercely looking security operatives stormed the head office of the Benin Electricity Distribution Company at Akpakpava street.

With the present state of insecurity in the country, bystanders have anticipated seeing a shore-up of security operatives around the Electricity distribution office given the directive of the Inspector general of police, Usman Alkali Baba

But this was a distance from their beliefs when the managing director was seen led into a waiting vehicle.

However, the dissatisfied Funke Osibudu who spoke shortly after the incident described the arrest and take-over attempt as groundless

Accusing Dr. Henry Ajagbawa who was recently appointed to manage the Benin Electricity Distribution Company BEDC since Jul 2022, of flouting the restraining order of the court as well as posing a threat to her life in the new development.

When contacted on the arrest attempt, the State Police Commissioner Abutu Yaro acknowledge receipt of the operatives but noted that the police operatives from the force headquarters who attempted to carry out the arrest was misinformed of the present condition of the issue.

No less than five electricity distribution companies, DISCOs were announced for restructuring and further take over by the federal government on Wednesday, July 6, 2022, by Nigerian Electricity Regulatory Commission, NERC, including KADUNA ELECTRIC, KEDCO, IBEDC, PHED, and BEDC, over a reported inability to repay loans they obtained for assets acquired in the 2013 privatization exercise.