The Board of Directors of the Ibadan Electricity Distribution Company, IBEDC, has terminated the appointment of the firm’s Managing Director, Mr Kingsley Achife.
The company also named Francis Agoha as the Acting Managing Director, effective from May 31.
The development was announced in an internal memo dated May 31, 2024, signed by IBEDC management.
“The Board 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.
“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.
“The Board remains committed to delivering reliable electricity services to our customers and stakeholders. We are confident that this change in leadership will accelerate our journey toward sustainable growth, improved performance and a successful transition,” the memo noted.
IBEDC terminates MD, Achife’s appointment, names replacement