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No basis for takeover of BEDC, says management

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No basis for takeover of BEDC, says management

No basis for takeover of BEDC, says management

… assures customers, stakeholders of continuing operations

By Olorunfemi Adejuyigbe

 

No basis for takeover of BEDC, says management

 

The management of Benin Electricity Distribution Company (BEDC) Plc has said there is no legal basis for the takeover of the company following the purported activation of the call on its collateralised shares by Fidelity Bank.

The purported activation seeks to take over the respective Boards of Kano Electricity Distribution Company, Kaduna Electricity Distribution Company and BEDC Electricity Plc (the DisCos) over the inability to repay the loans obtained to acquire majority stakes in the DisCos in furtherance of the 2013 privatisation exercise.

 

 

 

 

 

 

The company said in a statement released in Benin today that, “The referenced report also alleges that certain parties have been appointed as Board Members, Independent Directors and Managing Directorof BEDC Electricity Plc. We understand these appointments have been communicated to the Bureau of Public Enterprises (BPE) and the Nigerian Electricity Regulatory Commission.”

However, the management of BEDC stated unequivocally that, “There is no contractual, statutory or regulatory basis for such.” The statement added that, “For the avoidance of doubt, the shares of BEDC have not been given as security to Fidelity Bank or to any other party.”

 

 

 

 

 

 

 

 

According to the statement, “As we understand it, Vigeo Holdings Limited (VHL – a non-shareholder of BEDC) obtained credit facilities from Stanbic IBTC Bank Limited, Fidelity Bank Plc, and Keystone Bank Plc (the VHL Lenders).

“We further understand that the said credit facilities (and any enforcement action in relation thereto) have in the meantime become subject of litigation in a Court action instituted by VHL and other plaintiffs (the VHL Action) with Suit No: FHC/L/CS/239/22 – Vigeo Holdings Limited and 4 Ors v. Stanbic IBTC Bank Limited, and therefore, subjudiced.”

 

 

 

 

 

 

 

 

The management of BEDC Electricity Plc warned that, “Any attempt by Fidelity Bank and/or BPE to intervene in BEDC in the manner being reported will be illegal, unlawful and will be resisted.”

Consequently, the company urged its customers, investors and partners in the electricity business to ignore the trending reports while assuring them of continuing smooth operation and that it remains, “Focused on its mission to ensure delivery of quality and reliable electricity to the good people of Edo, Delta, Ondo and Ekiti States.”

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PMF president,Bishop Anthony implores Christians to use Easter celebration to foster the unity of Nigeria

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The president of Pentecostal Ministers Forum of Nigeria,PMF bishop Chidi Anthony has advised Christians in Nigeria to use the solemnity of the forthcoming Easter celebration to intensify and amplify national unity by embracing peace and fostering the spirit of love and togetherness which the Christian religion has always advocated for.

Speaking to newsmen today in Lagos, Bishop Anthony enunciated that Christianity is a religion of peace and Christians should use the Easter celebration to assert this to the entire nation “Easter is a sacred celebration because it marks the remembrance of the death of our Lord Jesus Christ,he came to pay the ultimate price for the redemption of our sins, Christians are supposed to be sober during this period, it should not a period of fighting, it should not a period of killing, it should not be a period of tension and enmity in the country, it should be a period of peace, love, endurance and perseverance which will ultimately lead to peace and unity in the country

Christians should also use the forthcoming Easter celebration to alleviate , mitigate and assuage the tension in the country by adhering strictly to the principles of reconciliation “As I said that Easter is a period of sober reflection, it’s a period of reconciliation with our God so we have to make peace with people around us,Easter should be seen as a period of national reconciliation because Christianity preaches peace and we must portray that as Christians,this will definitely help to build a better and indivisible nation ”

Lastly, Christians should show love by giving palliatives, money and others at this period because doing this helps to alleviate the sufferings and hardship in the country and this will help to foster the unity of the Nigerian nation, Easter period should be used for this .

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Christian police fellowship of Nigeria bestows award of excellence on PMF president, Bishop Anthony

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Bishop Chidi Anthony is the founder of Kings In Christ Power Ministries International and the president of Pentecostal Ministers Forum of Nigeria,PMF.

He is one of God’s generals that has impacted many as he propagates the gospel of our Lord Jesus Christ; uniting and fostering unity and togetherness among ministers of God through Pentecostal Ministers Forum of Nigeria which he happens to be the president, young ministers have benefited immensely from the organisation as PMF offers financial support to it’s members that are in need.

Christian Police fellowship of Nigeria decided to honour bishop Chidi Anthony for his marvelous and magnificent impact in the Christendom .CPFN bestowed an award on him yesterday at the police College,Ikeja.Bishop Anthony was there with his lovely wife,Rev.Nkiru Anthony to receive the award,his exhilaration was very conspicuous and he said “I’m really elated receiving this award today,I want to encourage people to keep doing good and impacting lives positively,you don’t know who is watching and taking note of you,I actually never envisaged receiving an award,I never knew that they were contious of my good works, I’m really enraptured,I want to show utmost gratitude to CPFN for the award and pray that God will continue to bless them ”

Finally,he advised churches in Nigeria, especially the popular ones with massive congratulations to help their members in this critical period of the nation because Christianity is about love and care ,he enunciated that you can’t preach Jesus to a hungry soul,you need to feed him first if you really want him to listen and accept Christ

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Uromi killing:stop going to other states with guns prophet Ikuru warns the Northern

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By Collins Nkwocha

 

The prophetic hall of fame and Ambassador of peace, prophet Godwin Ikuru of Jehovah Eye Salvation Ministry has castigated the Northern people, especially the Fulanis for always travelling and entering other states with arms.

 

The prophet of the nation who outrightly condemned the killing of Northern people in Uromi also enunciated that it’s wrong for the Northern people to invade other states with arms based on the tensed security threat the nation is facing at the moment “I want to condemn the killing in Uromi because nobody has the right to take another person’s life,they should have been handed over to the security operatives, the killing in cruel and barbaric,but it’s wrong for the Northern people to keep invading other states with arms, the rate of insecurity in the nation is high, anyone seen with a gun is dreadful and harmful,Fulani Herdsmen have perpetuated so much heinous and callous act for people to be apprehensive of their presence,my in Law was a victim of their heinous act,they assaulted her in her farmland,their presence with arms is really terrifying and it’s making farmers to desert their farmlands, prompting food scarcity ”

 

The prophet of the nation advised the government to take a proper look at the possession of arms by these men and reiterated that the North is big enough for thousands of hunters and herdsmen to explore “travelling to other states with arms is not good, the North has got the largest landmass in the country,why leave the North to other states with little Landmass , the North is very massive, it’s very obvious that their is hidden agenda,why will someone leave a river to look for fish in a swimming pool, the government need to look at these area critically,arms should be prohibited, anyone that is not a security operative shouldn’t be seen with arms ”

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