Ibadan DisCo dismisses MD, appoints new acting head

The board of directors of the Ibadan Electricity Distribution Company (Ibadan DisCo) has dismissed Kingsley Achife from his position as the company’s managing director.

The company communicated the decision in an internal memo dated May 31, saying that it chose not to renew Achife’s contract, appointing Francis Agoha as the acting managing director of Ibadan DisCos, effective May 31.

The statement read, “Dear colleagues, the board of directors of the Ibadan Electricity Distribution Company wishes to inform the staff that it has decided not to renew the contract of the current managing director, Kingsley Achife”.

“The Board expresses its deepest gratitude to Kingsley Achife for his contributions to the company and for laying the foundation for the ongoing turnaround,” it added.

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The statement also stated that the board appointed Francis Agoha, the most senior executive, as the acting managing director of IBEDC, effective immediately, to work closely with the Board for a smooth transition.

The Ibadan DisCos board emphasised its commitment to providing reliable electricity services to its customers and stakeholders.

“We are confident that this change in leadership will accelerate our journey towards sustainable growth, improved performance, and a successful transition,” the memo from the management added.

Faith Esifiho

Faith Esifiho is an Energy correspondent at BusinessDay, covering Nigeria's electricity sector, oil and gas industry, and energy policy. She reports on power outages, electricity tariffs, gas sector reforms, and the broader challenges facing the country's energy transition. She specializes in data-led reporting and human-angle stories that examine how energy policies affect everyday Nigerians and also tracks trends in the power sector, analyses regulatory changes, and investigates the impact of subsidy reforms and pricing policies.