AEDC’s interim MD, Akinwumi, tenders quit notice | Dailytrust

AEDC’s interim MD, Akinwumi, tenders quit notice

Abuja Electricity Distribution Company (AEDC)
Abuja Electricity Distribution Company (AEDC)

There are indications that the interim managing director of the Abuja Electricity Distribution Company (AEDC), Engr Bada Akinwumi, has issued a 30-day notice to quit office, while the acting MD of Jos DisCo, Hashim Bakori, resigned from his duty two weeks ago, Daily Trust reports.

Engr Akinwumi’s planned exit is coming just three months after he was appointed along with other management officials to head AEDC in what was described as a takeover of the DisCo by UBA, the lender, over disputed acquisition loan settlement by KANN Consortium, the core investor.

Indications emerged that on March 23 (Wednesday), Akinwumi, a former CEO of the Transmission Company of Nigeria (TCN), issued the one-month resignation notice to the board, stating that he had up to April 23, 2022, to head AEDC.

The letter reads in part: “You are, therefore, please requested to take this as a formal notification that I shall be exiting the service of the company on the 23rd of April, 2022.”

The AEDC interim board was constituted in December last year and is led by Victor Osadolor as chairman.

According to a management official who said he was not authorised to speak, “The board has accepted the resignation of the interim MD; there is no decision yet on a successor.”

Meanwhile, the acting MD of Jos Electricity Distribution (JED) or Jos DisCo, Engr Ibrahim Hashim Bakori, has resigned his appointment. Bakori who left on March 14, 2022, has since been replaced by the executive director, finance and accounts, of the DisCo, Mamman Lafia Umar, in acting capacity.

Bakori joined the company in August, 2020, after the takeover of the firm by a new core investor under the chairmanship of Babangida Inuwa.

In the letter on March 15, 2022, by the board accepting the resignation of the acting MD, with Inuwa saying: “Though Engr Hashim will be exploring other undertakings outside of the company, I am certain that we will stay connected with him and continue to leverage his experiences in enhancing the organisation’s performance. Please, join me in wishing him success in his future endeavours.”

It was also learnt that more heads of the private-led power firms may be exiting soon over issues of corporate governance and state of the power sector, and also for political reasons.

Another official noted that the resignation spree about the seemingly bad state of the power sector was demoralising and indicative that government would need to take a serious look at the sector.

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