The management of Ibadan Electricity Distribution Company (IBEDC) has sacked Kingsley Achife as its Managing Director.
The IBEDC also announced the appointment of Francis Agoha as the Acting Managing Director of the company, effective May 31, 2024.
The latest development was contained in an internal memo dated May 31.
The memo read: “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.
“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.”
The DisCo, however, gave no reason for the decision not to renew Achife’s contract.
