The Ibadan Electricity Distribution Company’s Board of Directors has removed Mr. Kingsley Achife from his position as managing director.
The IBEDC’s acting managing director, Francis Agoha, was appointed by the board on May 31 after it declined to extend Achife’s term.
Our correspondent saw a copy of an internal memo dated May 31 that contained information about Achife’s bag.
“Hello, colleagues The Ibadan Electricity Distribution Company’s Board of Directors would like to notify the employees that it has chosen not to extend the contract of Engineer Kingsley Achife, the company’s present managing director.
The Board would like to convey its sincere appreciation to Engineer Kingsley Achife for his services to the company and for helping to provide the groundwork for the current turnaround.
The Board is happy to inform that Engineer Francis Agoha, the most senior executive, has been appointed as the acting managing director of IBEDC in light of this decision. A portion of the memo stated, “Engineer Francis Agoha will take on leadership responsibilities immediately and will collaborate closely with the Board to achieve a seamless transition.
The IBEDC board declared that it is still dedicated to providing its stakeholders and clients with dependable electrical services.
The management memo also stated, “We are confident that this change in leadership will accelerate our journey towards sustainable growth, improved performance, and a successful transition.”
The board’s decision was made without a stated rationale, but it might not have been unrelated to complaints from the Disco’s peers regarding their performances.
Adebayo Adelabu, the Minister of Power, called a critical meeting in March that included the departing managing director of the IBEDC among others.
In spite of the ministry’s best efforts, according to Adelabu, some distribution companies—like the IBEDC—were unable to fairly distribute the power that was provided, and in places like Abuja, Benin, Port Harcourt, and Ibadan, the issue is made worse by vandalism of the power infrastructure.
The Nigerian Electricity Regulatory Commission issued an order in February 2024 regarding non-compliance with projected billing, which included a fine. On Thursday, Achife led the IBEDC to hold a defense hearing against the said sanction.
Achife declared throughout the court that he was against overcharging clients and that he was taking notes during the defence session.
But according to Musiliu Oseni, the vice chairman of NERC and head of the hearing panel, NERC only agreed to grant IBEDC’s request for the hearing since the appeal was submitted after the sixty-day window for submitting an appeal against any regulatory decision.
He stated that a resolution will be reached by the NERC and IBEDC team working together.
Busolami Tunwase, the IBEDC representative, declined to provide specifics but indicated a statement would be published later.
