Lenders Appoint Receiver for Major Nigerian Power Firms, Notice Shows

Lenders appoint receiver for major Nigerian power firms, notice shows

A Nigerian receiver has been appointed by lenders to KEPCO Energy Resources and its subsidiary, Egbin Power, two major players in the power sector, adding to worries about the industry's financial health, a notice in local media said.

Nigerian Power Crisis: Ikeja Electric Denies Receivership

Conflicting reports over the potential takeover of three major Nigerian power companies have sparked concerns about the stability of the country’s electricity…

Egbin Power, Ikeja Electric, FIPL Not In Receivership, Says Management

The management of Egbin Power Plc, Ikeja Electric Plc (IE), and First Independent Power Limited (FIPL), on Wednesday denied media reports claiming the companies have been placed under receivership.…

Ikeja Electric, Egbin Power, First Independent Power Deny Being Under New

By Aduragbemi Omiyale The managements of Egbin Power Plc, Ikeja Electric Plc, and First Independent Power Limited have refuted reports that they have been taken over by a bank due to the loans they secured for operational use. It was reported on Wednesday that these energy firms were now under a new management controlled by […]

Concern Over Ikeja Electric Receivership - InsideBusiness - Business News in Nigeria

The report of the Ikeja Electric receivership highlights the persistent challenges of the power sector, which has become a troubling conundrum. These challenges stem from flawed privatisation processes, ageing equipment, limited technical and financial capacity of the power distribution firms, problematic pricing and tariff structures, coupled with affordability concerns among the citizenry and an unsustainable subsidy regime. The result has bee…

Ikeja Electric Plc and others deny being in Receivership, cite Court warning against ‘adverse actions’

The management of Egbin Power Plc, Ikeja Electric Plc (IE), and First Independent Power Limited (FIPL) has denied being in receivership, adding that the court has warned against “adverse actions” by a party.  The post Ikeja Electric Plc and others deny being in Receivership, cite Court warning against ‘adverse actions’  appeared first on Nairametrics.