Privatisation default: Abuja DisCo’s new Board Chair assures staff of job security, welfare
…Board members, interim management assume office
The new board Chairman of Abuja Electricity Distribution Company (AEDC) Mr Victor Osadolor has assured staff of welfare and job security.
Addressing the staff earlier, the Chairman, Victor Osadolor reiterated: “I want to assure you that the new Board of Directors is committed to the well-being of our employees. May I please request that all employees and stakeholders remain steadfast and support the interim management as they embark on the transformation of the business for our collective benefit. I thank you all for the sacrifices and commitment thus far as we begin this refreshing chapter of our corporate journey.”
Information reaching Nigerian NewsDirect confirmed that last week, the new board and interim management of Abuja Electricity Distribution Company assumed office. The board is made up of Victor Osadolor as Chairman. Osadolor is currently Chairman of UBA Pensions, a Non-Executive Director of African Finance Corporation (AFC), and former Deputy Managing Director of the United Bank for Africa (UBA). He is a seasoned finance and business turnaround expert with over three decades of corporate experience. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and an honorary life member of the Chartered Institute of Bankers of Nigeria (CIBN).
Alex Okoh is also a Member of the Board, and is currently the Director General of the Bureau of Public Enterprises (BPE). He is currently a member of the Presidential Economic Advisory Council, and has over three decades of corporate experience in general management, leadership, banking and organisational development. During his career in the banking sector, he served in a variety of leadership roles, including corporate banking, operations, treasury, as well as initiating and designing transformative projects and processes.
Other members of the board include Atiku Abubakar Tambuwal, Sam Adikamkwu; a legal practitioner and former Chief Legal Adviser at the United Bank for Africa (UBA); and Muyiwa Akinyemi, seasoned accountant and a current Group Executive at the United Bank for Africa (UBA).
The Interim Management is led by Bada Akinwumi, who will serve as the Interim Managing Director. Other members of the interim management are: Sani Usman, Interim Chief Business Officer; Babajide Ibironke, Interim Chief Finance Officer; Donald Etim, Interim Chief Marketing Officer; and Femi Zacheus Interim Chief Technical Officer.
We gather that these appointments follow approval by the Nigeria Electricity Regulatory Commission (NERC) and the Bureau of Public Enterprises (BPE) conveyed on 9 Dec 2021, confirming the interim management as fit and proper to provide leadership to Abuja DISCO.
