Eko Electricity Distribution Company Board in Turmoil Over CEO Sacking

Eko Electricity Distribution Company Board in Turmoil Over CEO Sacking
Eko Electricity Distribution Company Board in Turmoil Over CEO Sacking

The Eko Electricity Distribution Company (EKEDC) is currently embroiled in a leadership crisis that has caused a rift among the board members. The company’s Managing Director/Chief Executive Officer, Dr. Tinuade Sanda, was recently replaced by Mrs. Rekhiat Momoh, leading to a clash within the board.

The decision to remove Sanda from her position was based on a directive from the Nigeria Electricity Regulatory Commission (NERC), which mandated that all staff working for the utility must be employed directly by the company. This directive led to the release of all seconded staff from WPG Ltd, including Sanda.

However, a Director and Chairman of the Legal & Regulatory Committee, Mr. Babor Egeregor, disputed the chairman’s decision, stating that NERC did not order the removal of any staff except those involved in alleged fraud and negligence. He accused the chairman of acting in bad faith and seeking revenge against Sanda for uncovering the fraud within the company.

Egeregore emphasized that Sanda had significantly improved EKEDC’s performance during her tenure and questioned the legitimacy of Momoh’s appointment as Acting MD/CEO. He stressed the importance of due process and corporate governance within the company.

In response to the allegations, the EKEDC spokesperson clarified that Sanda was not sacked but asked to step aside temporarily for structural management realignment. Momoh’s appointment was intended to prevent a leadership vacuum within the company.

The NERC has promised to address the ongoing crisis at Eko Disco officially, indicating that further developments may unfold in the near future. The situation highlights the complexities and power struggles that can arise within corporate environments, even in the energy sector.

Tags:

Recent News

Russian central bank makes major change — RT Business News

Russia Cuts Key Interest Rate to 20% as Inflation Slows Down

Naira depreciates against dollar across official, black markets after Easter holidays

Eid al-Adha: Naira appreciates massively against dollar across official, black markets

Nigeria to earn $7m daily revenue from fertiliser export - Dangote

Petrol not expensive in Nigeria – Dangote

Scroll to Top