The Abuja Electricity Distribution Company (AEDC) has formed a new board led by the chairman, Victor Osadolor, a top official of the United Bank for Africa (UBA) and Atiku Abubakar Tambuwal, a former Deputy Managing Director (DMD) at the Transmission Company of Nigeria (TCN).
The announcement is coming a few days after the Bureau of Public Enterprises (BPE) announced the interim management led by Bada Akinwumi as the Interim Managing Director (IMD), a former MD of TCN, a public firm.
Osadolor is Chairman of UBA Pensions, and a Non-Executive Director of African Finance Corporation (AFC). The Director-General of BPE, Alex Okoh is also a member of the board on behalf of the 40 per cent stake of the federal government.
Other board members aside from Tambuwal are Sam Adikamkwu, a former Chief Legal Adviser at UBA and Muyiwa Akinyemi, an accountant and currently Group Executive UBA.
There had been a shareholders’ crisis in which the Minister of Power, Engr. Abubakar Aliyu, intervened last week to stop a staff union strike action over welfare payments.
The minister also clarified that UBA moved to take over AEDC over the failure of the shareholders to pay up loan obligations.
Addressing the staff in Abuja on Monday, the chairman, Mr Osadolor said: “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.”
The appointments were approved by the Nigerian Electricity Regulatory Commission (NERC) and BPE at a meeting of Dec 9, 2021.
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