The Board of Directors of the Ibadan Electricity Distribution Company has terminated the appointment of the Managing Director of the Ibadan Electricity Distribution Company, Mr. Kingsley Achife, effectively ending his tenure.
This was disclosed via an internal memo dated May 31, according to The Punch.
The board declined to renew Achife’s contract, naming Francis Agoha as the Acting Managing Director of the IBEDC effective from May 31.
The memo read partly, “Dear colleagues, the Board of Directors of the Ibadan Electricity Distribution Company wishes to inform the staff that it has decided not to renew the contract of the current Managing Director, Engineer Kingsley Achife.
“The Board expresses its deepest gratitude to Engineer Kingsley Achife for his contributions to the company and for laying the foundation for the ongoing turnaround.
“In light of this decision, the Board is pleased to announce the appointment of the most senior executive, Engineer Francis Agoha as the Acting Managing Director of IBEDC. Engineer Francis Agoha will assume leadership responsibilities with immediate effect and will work closely with the Board to ensure a smooth transition.”
The IBEDC board has reaffirmed its dedication to providing reliable electricity services to its customers and stakeholders.
“We are confident that this change in leadership will accelerate our journey towards sustainable growth, improved performance, and a successful transition,” the memo from the management added.
The board’s decision was made without providing a reason, but it may have been influenced by recurrent performance concerns from the distribution company among its counterparts.
In March, the Minister of Power, Adebayo Adelabu, summoned the outgoing managing director of IBEDC, among others, to a crucial meeting.
Adelabu highlighted that despite the ministry’s efforts to boost power generation, certain distribution companies like IBEDC were falling short in effectively distributing the power supplied.
He also noted that vandalism of power infrastructure was worsening the situation in regions such as Abuja, Benin, Port Harcourt, and Ibadan.
On Thursday, Achife led IBEDC in a defense hearing against a sanction issued by the Nigerian Electricity Regulatory Commission in February 2024 for non-compliance with estimated billing. During the hearing, Achife expressed his commitment to learning from the process and his opposition to overbilling customers.
However, NERC Vice Chairman and hearing panel chairman, Musiliu Oseni, stated that NERC had only approved IBEDC’s request to hold the hearing because the appeal was filed beyond the sixty-day limit allowed for contesting regulatory judgments.
He stressed that a joint NERC and IBEDC team would work towards a resolution.
IBEDC spokesperson, Busolami Tunwase, indicated that a statement would be released later, declining to provide further details.
