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A major management shake-up in Abuja Electricity Distribution Company (AEDC) has occurred.
The shake-up occurred following the board’s approval that the company should be repositioned.
According to a statement by the Acting Managing Director/ CEO of the company, Victor Ojelabi, the following officers have been appointed to various positions:
Godfrey Abah has been appointed Chief Technical Officer. He will be responsible for overseeing and managing all aspects of the company’s technical operations to ensure efficient operations and optimal network performance. His appointment takes effect immediately.
Leticia Ejendu has been appointed as the Chief Business Officer (CBO).
The business office is expected to be restructured to provide the right executive attention and drive for the districts; ensure end-to-end energy accounting and improve customer experience.
“We will now have three Chief Business Officers reporting to the MD/CEO directly.
She will oversee the other regions pending the appointment of the other two CBOs. Her appointment takes effect immediately.
Ibem Idika has been appointed Head, Human Resources. He will be responsible for developing, co-ordinating and implementing human resources (HR) policies across the company as well as implementation of the company’s talent strategy. He takes over from the acting Head, Human Resources and will be resuming immediately.
Irene Nwankwo has been appointed Chief Internal Auditor effective immediately. She will be responsible for evaluating the effectiveness of governance, risk management and internal control arrangements and playing a key role in promoting good corporate governance in the company. Her appointment takes effect immediately.
The following people will operate in acting capacity, pending the resumption of the substantive heads of the areas:
Branding and Corporate Communication – Mimi Angyu;
Regulatory and Government Relations – Sasi Jaja
Recall that Abuja Electricity Distribution Company ( AEDC) began operations and business of power distribution in the month of November, 2013 as one of 11 electricity distribution licensees granted licence to operate post privatisation era.
“Within 10 years, the company has recorded landmark achievements in the power sector in the areas of metering deployment, customers centricity and network expansion / improvements.
“However, these are not without its challenges in areas of financial management, dearth of governance structure and sector’s risks volatility and regulatory risks exposures.
Within 10 years, the company has been managed by five managing directors with the newly-appointed Acting Managing, Victor Ojelabi as the 6th MD /CEO.
The company has also experienced dwindling fortunes in revenue and cash flow with some service providers and contractors who have rendered various contractual services / completed various installation projects/ regular vendors services being owned in arrears of 2-3 years indebtedness without any hope of being paid soon.
Recently, AEDC was placed under receivership and was eventually taken over by a Nigerian due to inability to pay for backlogs of debts believed to have been accumulated due to lack of prudential cost recovery, financial leakages, human elements, resource wastages amongst others. As of 2018 / 2019 the monthly cash collection of AEDC was about N15 billion.
