The Bureau of Public Enterprises (BPE), has listed names of persons to temporarily pilot the affairs of the Abuja Electricity Distribution Company (AEDC), following the suspension of the management which resulted from an ownership tussle between the United Bank for Africa Group and KANN Utility Company Limited, over some stake in the Distribution Company.
In a statement issued on Thursday for the approval of the newly appointed members of the AEDC interim management team, the BPE quoted an earlier statement by the Chairman of the Nigerian Electricity Regulatory Commission (NERC), Mr. Sanusi Garba: “It (the approval) is pursuant to the earlier fit and proper review of your (BPE’s) pool of nominees and in the context of business continuity framework of the Nigerian Electricity Supply Industry.”
The new interim management team as listed by the BPE, now constitutes the following people with their respective offices: Bada Akinwumi, Managing Director; Sani Usman, Chief Business Officer; Babajide Ibironke, Chief Finance Officer; Donald Etim, Chief Marketing Officer; and Femi Zacchaeus, Chief Technical Officer.
The agency further detailed the reasons for the joint decision by NERC and itself, to suspend the company’s management and set up an interim team to take over its responsibilities.
Both agencies maintained that their intervention was necessary at the point, including that of the Federal of the Minister of Power, as the DisCo was failing in executing its obligations to the consumers, its workers and players in the industry.
They explained that the failure led to the the industrial action against the company by the Nigerian Union of Electricity Employees which resulted in a collapse of service delivery to customers under its network, from Monday December 6.
“During the course of the intractable crisis, the AEDC not only struggled to meet its obligations to the market under the terms and conditions of its licence but was also unable to meet its obligations to key stakeholders in the organisation including staff,” they said.