Ojelabi Emerges Abuja Electric Acting-MD 

404

Victor Ojelabi has been appointed acting managing director of Abuja Electricity Distribution Company following a major shake-up of its top cadre.

Other appointments are Godfrey Aba, the Chief Technical Officer, Leticia Ejendu, the new Chief Business Officer (CBO), Ibem Idika, as Head, Human Resources, Irene Nwankwo, the Chief Internal Auditor, while Mimi Angyu and Sasi Jaja will operate in an acting capacity, Branding and Corporate Communication and Regulatory and government relation respectively pending the resumption of the substantive heads for those positions.

Ojelabi, who, until the new appointment is the chief internal Auditor of AEDC, is the sixth managing director and chief executive officer in the last 10 years.

Before the emergence of Ojelabi, were Neil Croucher, Ernest Mupwaya (longest serving), Akinwumi Bada, and Engr. Adeoye Fadeyibi, Chris Ezeafulukwe (who allegedly resigned from his appointment).

The new appointments came in a memo signed by the chairman, and board of directors of the company, Stanley Lawson, to all staff of the company.

“Victor has been charged to drive the Board approved turnaround plan to reposition AEDC as the leading distribution company in Nigeria,” the memo stated.

The exercise is a major realignment and appointment of fresh hands and those with in-depth knowledge of the workings of the organisation/ network, said Ojelabi in a statement.

“In furtherance of the implementation of the Board-approved AEDC Turnaround Plan, please be advised of the following key updates in our dear company, as we move to reposition AEDC as the clear market leader in the Nigerian electricity distribution.

 Ojelabi expressed excitement about the turnaround of AEDC and urged everyone to remain committed and dedicated as we work towards making AEDC the leading distribution company in Nigeria.

 AEDC began operations and business of power distribution in November 2013 as of one 11 electricity distribution companies licensed to operate in the post-privatisation era.

Within its period of existence, the company has faced challenges in areas of financial management, dearth of governance structure and the sector’s risks volatility and regulatory risk exposures, while its fortunes have also dwindled, struggling to meet financial obligations to service providers and contractors.

Very recently, the company was under receivership and was eventually taken over due to its inability to pay for backlogs of debts believed to have been accumulated due to a lack of prudential cost recovery, financial leakages, human elements, and resource wattages amongst others.

Comments are closed.