Court stops IBEDC’s shares transfer over ownership battle

The dispute over the sale of Ibadan Electricity Distribution Company Limited has remained unresolved, as the Federal High Court in Lagos has scheduled May 16, 2025, for the hearing of a lawsuit filed by 86 Gardens Limited against Archlight Nigeria Limited and two others over the alleged transfer of its shares to another company.

Ahead of the hearing of the suit, Justice Musa Kakaki granted an interim injunction preventing Archlight Nigeria…