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Fidelity Bank’s Unlawful Takeover Of BEDC Suffers Setback, As Court Restrains Imposter Directors

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Fidelity Bank

 

-Company Assures Stakeholders Of Restoration Of Board, Management

An Unlawful attempt by Nneka Onyeali-Ikpe-led Fidelity Bank to forcefully take control of the Benin Electricity Distribution Company Plc (BEDC) has suffered a massive setback.

Recall that in a bid to recoup it’s loan to an associate organisation related to BEDC, Fidelity Bank had attempted to collaterise the shares of the company in BEDC, with Henry Ajagbawa, K. C. Akuma, Adeola Ijose, Charles Onwera and Yomi Adeyemi attempting a hostile takeover as the new management of BEDC.

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Efforts by BEDC to to diplomatically resolve the issue fell on the deaf ears of the management of the financial institution, thus forcing the distribution company to seek legal redress.

It is on record that attempt by a court ballif to serve
Henry Ajagbawa, K. C. Akuma, Adeola Ijose, Charles Onwera and Yomi Adeyemi was violently rebuffed, as the parties chose the path of violence and even stopped the operation of BEDC, while preventing patrons from accessing it’s office.

An update of latest developments as contained in a statement sent to www.theoctopusnews.com, confirmed that the matter has since become an issue of litigation, as BEDC seek to nip Fidelity Bank’s unlawful interference in it’s affairs once and for all.

In the statement sent to this news platform, BEDC assured the general public of the restoration of governance and operational control of the company by the legitimate board and management of the company.

A statement issued in Benin by the Head of Legal Services of BEDC, Mr. Lucky Ayomoto said, “This is to assure the general public that BEDC Electricity Plc remains under the governance and operational control of its legitimate and statutorily recognised Board of Directors and Management.”

Further, he added that, “As the public is already aware, the circumstances surrounding the unfortunate misadventure by Henry Ajagbawa, K. C. Akuma, Adeola Ijose, Charles Onwera and Yomi Adeyemi (who at some point, unlawfully misrepresented themselves as Directors of BEDC Electricity Plc.), are subject of a pending court action at the Federal High Court, Abuja in Suit No. FHC/ABJ/CS/1113/2022, where the court, amongst other things, restrained the Defendants (including Henry Ajagbawa, K. C. Akuma, Adeola Ijose, Charles Onwera and Yomi Adeyemi) from parading themselves as Directors of BEDC Electricity Plc.

“We hereby use this medium to assure the general public, both local and international, together with our wonderful customers, that normalcy has since returned to BEDC under the lawful control and management of its legitimate Board of Directors and Management.”

Mr. Ayomoto further said that, “The public is hereby advised that anyone who transacts with Henry Ajagbawa and his collaborators does so at his or her own risk, as they have no authority to transact or enter into any legal relations for and on behalf of BEDC Electricity Plc.”

Also, Mr Ayomoto assured BEDC customers of quality and improved service delivery, adding that their satisfaction is paramount to the company.

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