Ibadan Electricity Company Removes Achife As Managing Director, Appoints Successor

Ibadan Electricity Company Removes Achife As Managing Director, Appoints Successor

The Ibadan Electricity Distribution Company’s Board of Directors has decided to terminate Mr. Kingsley Achife’s tenure as the Managing Director of the company………..CONTINUE READING

Achife’s contract renewal was denied, and Francis Agoha was appointed as the Acting Managing Director of IBEDC, effective May 31, as stated in an internal memo dated the same day.

In the memo addressed to staff members, the Board expressed gratitude to Achife for his contributions and announced Agoha’s appointment to ensure a seamless transition in leadership.

While the reason for Achife’s removal wasn’t explicitly stated, it may be linked to performance concerns raised about the Disco among its peers.

The Minister of Power, Adebayo Adelabu, had summoned Achife and others to a meeting in March, expressing dissatisfaction with the distribution company’s performance despite efforts to increase power generation.

Achife had recently led IBEDC in a defence hearing against a sanction by the Nigerian Electricity Regulatory Commission (NERC) for non-compliance with estimated billing regulations issued in February 2024. However, the hearing panel chaired by Musiliu Oseni indicated that the appeal was filed beyond the allowable timeframe.

The IBEDC spokesperson, Busolami Tunwase, stated that a formal statement would be released later, declining to provide further details

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