By Bassey Udo
Barely 72 hours after the Transmission Company of Nigeria (TCN) issued a a disconnection notice to the Abuja Electricity Distribution Company (AEDC), the electricity distribution company on Monday announced the immediate replacement of its acting Managing Director.
In the latest management changes, Engr. Chijioke Okwuokenye, who until his appointment was the Chief Operating Officer of the company, was named the new Managing Director in acting capacity.
On Friday, the TCN, through the electricity Market Operator, Ali Buukar Ahmad issued Order No: TCN/ISO/MO/2024/002 against the AEDC for alleged non-compliance with the conditions of the market rules and market participation agreements.
Consequently, the TCN announced a formal suspension notice to the company for the offence, in addition to its failure to provide the Market Operator (MO) with an adequate Bank Guarantee in line with section 15.3.3 of the Market Rules.
The sanction followed a previous notification of AEDC’s Default of the Market Rules via request for Fulfilment of Prudential Requirement of February 13, 2024.
By implication, the TCN said AEDC would have to be disconnected from the national grid on July 28 as punishment.
The sanction came days after the Federal Inland Revenue Service (FIRS) sealed AEDC’s headquarters over alleged non-payment of certain taxes due to the Government. The latest appointment after Ojelabi was appointed acting Managing Director in January this year, makes Okwuokenye the fourth Managing Director by AEDC since it was taken over by Transcorp Power more than eleven months ago.
Announcing the management changes on Monday, AEDC’s spokesperson, Adefisayo Akinsanya, said Okwuokenye appointment was part of the transformation agenda of the company.
She said in his new role, Okwuokenye, who until his appointment oversaw strategic support units and embedded generation projects in his capacity as the Chief Operating Officer, would “drive the positioning of AEDC as the foremost, customer-focused electricity distribution company in the Nigerian power sector.
“Okwuokenye brings to the role a wealth of experience and expertise in the power sector, as well as a passion for the attainment of the vision for the Nigerian electricity supply industry,” Akinsanya said.
Quoting the Chairman of AEDC Board of Directors, Dr. Stanley I. Lawson, Akinsanya said, “Chijioke Okwuokenye is an experienced leader who has been a part of the company’s transformation agenda and is well-suited to drive its corporate turnaround. I am confident that, with his technical and commercial background, he will continue to drive value for all AEDC stakeholders”.
Other appointments announced on Monday included those of Olumide Jerome, who would succeed Okwuokenye as the Chief Operating Officer.
Prior to his appointment, Jerome served as one of the company’s Chief Business Officers. He will drive efficiency and operational excellence across the company as part of his new responsibilities.
