Industry News

Tinuade Sanda remains MD/CEO, Eko Disco

Tinuade Sanda, MD/CEO of Eko Disco

By Tunji Faleye

Despite a letter from Eko Electricity Distribution Company (EKEDC) Chairman Dere Otubu dated March 26, 2024, purportedly terminating Dr. Tinuade Sanda’s employment contract as MD/CEO, she remains in her role amid a dispute over the Nigerian Electricity Regulatory Commission’s (NERC) directives.

This was contained in a release written and signed by Mr. Babor Egeregor, Director, Chairman Legal & Regulatory Committee, Eko Electricity Distribution Company which was made available to the media.

It was stated in the release that the controversy arose when Mr. Otubu’s letter cited NERC’s directives as the basis for Sanda’s termination, alleging compliance with orders to remove staff connected to fraud and negligence. However, NERC’s directives did not include removing Sanda, except for those specifically named, such as Wola Joseph Condotti, Sheri Adegbenro, and Aik Alenkhe.

In response, it was argued that Otubu’s actions were unjust, driven by personal vendetta, and an attempt to protect his protégés. They accuse him of misinterpreting NERC’s orders to tarnish Sanda’s reputation, especially after she escalated the alleged fraud issues and issued queries against Condotti, who was implicated in fraudulent activities.

Furthermore, there are concerns about the purported appointment of Mrs. Rekiat Momoh as the Acting MD/CEO, with Sanda’s supporters claiming that the board of EKEDC, apart from Otubu and his close associates, has not met or decided on her appointment. They emphasize that the board should collectively deliberate and approve such appointments, highlighting that Momoh remains the Chief Commercial Officer of EKEDC.

Egeregor said in the release that the board should focus on addressing the issues raised by NERC, including the recovery of lost funds and ensuring accountability, rather than targeting Sanda. They praise Sanda’s leadership, citing her achievements in turning around EKEDC and making it the leading distribution company in Nigeria.

According to the release, Sanda remains in her role as MD/CEO, with the support of investors, the board, and management of EKEDC, who express confidence in her leadership and anticipate further success under her guidance.

The release has highlighted the tensions at EKEDC between the board and management, with Sanda’s supporters accusing the chairman of acting unilaterally and undermining due process. The outcome of this dispute will likely impact EKEDC’s operations and the broader energy sector in Nigeria.

Kindly like and share your comments.

Leave a Response