Ibadan Electricity Distribution Company (IBEDC) has announced the dismissal of its Managing Director, Kingsley Achife, effective May 31, 2024.
The decision, communicated through an internal memo obtained by Punch, indicates that the Board of Directors chose not to renew Achife’s contract. Although specific reasons were not disclosed, the move is speculated to be related to ongoing complaints regarding the company’s performance.
Board Statement and Transition
The internal memo, addressed to the staff, expressed gratitude for Achife’s contributions and outlined the transition process:
“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.”
New Leadership
The Board appointed Engineer Francis Agoha as the Acting Managing Director, effective immediately. Agoha, the most senior executive within the company, is expected to ensure a smooth transition and lead the company towards sustainable growth and improved performance.
“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.
We are confident that this change in leadership will accelerate our journey towards sustainable growth, improved performance, and a successful transition.”
Commitment to Service
The IBEDC Board reiterated its dedication to providing reliable electricity services to its customers and stakeholders, emphasizing that the leadership change aims to enhance the company’s performance and operational efficiency.
The company’s commitment to its stakeholders remains a priority, as it continues to address performance issues and strive for excellence in service delivery.