Eko DisCo Fires Female CEO, Immediately Appoints Another Woman

Eko DisCo Fires Female CEO, Immediately Appoints Another Woman

  • Eko DisCo, a major electricity distribution company in Nigeria, has announced the removal of its chief executive officer, Tinuade Sanda
  • The firm relayed the decision to the CEO in a letter signed by its chairman, following a directive from NERC
  • The company subsequently announced the appointment of an acting CEO to fill the vacuum with immediate effect

Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.

Tinuade Sanda, the managing director/chief executive officer of the Eko Electricity Distribution Company (EKEDC or Eko DisCo), has been removed from her position with immediate effect.

The decision was communicated through a letter signed by Dere Otubu, the chairman of the DisCo.

Tinuade Sanda fired as CEO of EKEDC
The letter instructed Tinuade Sanda to transfer her responsibilities to the highest-ranking official within EKEDC under her purview. Photo credit - EKEDC, ThisDay Live
Source: UGC

NERC's directive to recall secondees of WPG

It was stated that this action was taken following a directive from the Nigerian Electricity Regulatory Commission (NERC).

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In the directive issued by NERC, the distribution company was instructed to recall all current secondees from WPG Ltd who were implicated in revenue losses for EKEDC, thereby necessitating the withdrawal of all WPG staff seconded to Eko DisCo.

It's important to note that WPG Ltd, the primary investor, is the entity responsible for seconding her to Eko Disco.

It would be recalled that in a similar move, NERC dissolved the board of Kaduna DisCo after the company failed to meet its financial obligations and was indebted to the tune of N110 billion.

Eko DisCo informs Sanda of appointment termination

In a correspondence dated March 21, 2024, entitled "Implementation of NERC directive on seconded staff," and directed to Sanda, it was outlined that NERC has instructed the EKEDC to guarantee that all personnel engaged with the utility are employed directly by the company.

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They must adhere to the relevant service terms applicable to the utility's employees and receive compensation through the utility's payroll system.

According to Vanguard, Otubu stressed the necessity for EKEDC to comply with the directive, citing the authority granted to NERC by the Electricity Act of 2023.

The letter partly read:

“In compliance with the aforementioned directive, all seconded staff from WPG Ltd are being released by Eko Electricity Distribution Plc and returned to WPG Ltd.
"Accordingly, you are hereby relieved of your role, office, and position at Eko Electricity Distribution Plc effectively immediately, and returned to your employer, WPG Ltd.”

Furthermore, the letter instructed Sanda to transfer her responsibilities to the highest-ranking official within EKEDC under her purview.

This is coming a week after Legit.ng reported how Sanda led the minister of power, Adebayo Adelabu, on an inspection tour of the company's facilities, where she disclosed that government MDAs owed an outstanding N36 billion.

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EKEDC appoints Rekhiat Momo as acting CEO

Following the redeployment of Sanda back to WPG Ltd, Eko DisCo has revealed the appointment of Mrs. Rekhiat Momoh as the acting CEO, effective Tuesday, March 26, 2024.

According to Premium Times, the announcement highlights Mrs. Momoh's extensive experience spanning over 31 distinguished years in the power sector.

Throughout her career, she has progressed through various roles within the sector, starting from the days of NEPA, PHCN, and presently Eko Disco.

Her outstanding contributions have been recognized with numerous awards, commendations, and medals.

Trained as a marketer, Mrs. Momoh holds an MBA from Lagos State University and is a fellow of esteemed organizations such as the Nigeria Institute of Management and the National Institute of Marketing of Nigeria, among others.

She has actively participated in numerous leadership and management courses and training programs, both domestically and internationally.

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NERC fines 11 DisCos N10 billion

In related news, Legit.ng earlier reported that NERC imposed a penalty of N10.5 billion on the 11 electricity distribution companies (DisCos) operating in the country.

NERC said this was due to their failure to adhere to the regulations concerning the capping of estimated bills for customers without meters.

The commission clarified that the DisCos would be required to reimburse approximately 10% of the excess charges they levied on their customers between January and September 2023.

Source: Legit.ng

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