The Ibadan Electricity Distribution Company (IBEDC) has announced a leadership change, appointing Engineer Francis Agoha as the new Acting Managing Director, effective from May 31.
This decision follows the board’s choice not to renew the contract of the outgoing Managing Director, Engineer Kingsley Achife.
In an internal memo dated May 31, the board stated “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,” the memo read.
Engineer Francis Agoha, the most senior executive, has been appointed as the Acting Managing Director. The board noted that Agoha will assume leadership responsibilities immediately and work closely with the board to ensure a smooth transition.
Though the board did not provide specific reasons for not renewing Achife’s contract, it is speculated that the decision may be related to performance issues.
Recently, Achife led IBEDC in a defence hearing regarding a sanction from the Nigerian Electricity Regulatory Commission (NERC) on non-compliance with estimated billing. Despite the hearing, the appeal was filed beyond the allowed timeframe, as noted by NERC’s Vice Chairman, Musiliu Oseni.
The IBEDC spokesperson, Busolami Tunwase, mentioned that a detailed statement would be released later, refraining from providing further details at this time.
