BusinessEKEDC Debunks Sack of MD/CEO Tinuade Sanda

EKEDC Debunks Sack of MD/CEO Tinuade Sanda

GTBCO FOOD DRINL

March 27, (THEWILL)- The board of Eko Electricity Distribution Company (EKEDC) has debunked media reports that its Managing Director/Chief Executive Officer (MD/CEO), Dr Tinuade Sanda, has been relieved of her duties.

The EKEDC’s statement followed reports making the rounds that the company’s board had approved the sack of Dr Sanda based on a directive from the National Electricity Regulatory Commission (NERC).

In a statement made available to THEWILL and signed by the Director, Chairman Legal & Regulatory Committee, Mr. Babor Egeregor, the company said the purported sack of Dr Sanda was false and that the company did not and had no cause to take such an action.

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The statement titled ‘Rebutal in Re: FG Sacks Eko DISCO Managing Director’ read:

“It has come to my notice that by a letter dated 26th of March 2024, the Chairman of Eko Electricity Distribution Company (EKEDC), Mr. Dere Otubu purportedly terminated the Contract of Employment of Dr. Tinuade Sanda, the MD/CEO of EKEDC, allegedly in compliance with Orders/Directives issued by the Nigerian Electricity Regulatory Commission (NERC).

The said Order of the NERC, herein displayed, are unambiguous, incapable of, and unyielding to plural interpretations. There was nowhere in the Order where NERC requested the removal of any staff either seconded to or hired by EKEDC *EXCEPT* those connected to the alleged fraud and negligence i.e., Wola Joseph Condotti, Sheri Adegbenro, and Aik Alenkhe.

In fact, NERC’s directives were issued to compel the Board of EKEDC, following picketing by the Union and unrelenting Staff protests, to act appropriately in the face of a determined position of a majority of the Board members to cover up the alleged use of ghost workers together with the alleged fraud and protect Wola Joseph Condotti especially.”

Continuing, the statement revealed that the purported disengagement letter was issued in bad faith and served as a vengeful revenge against Dr Sandas for exposing alleged wrongdoings of Mr Dere Otubu, the author of the sack letter.

“Mr. Dere Otubu’s letter, therefore, was done in bad faith and in vengeful revenge against the MD/CEO for escalating the alleged fraud and issuing queries against one of his protégés, whom he has desperately swore to protect by all means.

“As a matter of fact, the Ag DG of the BPE, representing the Government on the Board of EKEDC, vehemently rejected the attempt to cover up the alleged crime and insisted on compliance with the punishment prescribed in the Conditions of Service.

“Rather than comply with the Orders of NERC, a recourse to subterfuge was hatched with the purported termination and the publication of different misleading headlines such as ‘FG Sacks MD of EKEDC’, ‘Tinuade Sanda relieved of her position as MD, Eko Distribution Company’.”

There are no doubts about a deliberate agenda and unconcealed mischief to misread the Orders of the NERC to malign Dr. Sanda’s reputation for daring to escalate and issue queries to Wola Joseph Condotti for alleged fraud through the use of ghost workers for 3 years, and continuous payment of salaries to exited staffs despite personally receiving their resignation letters.

“Similar queries were issued to Sheri Adegbenro, the Chief Audit and Compliance Officer and Aik Alenkhe, the Chief Human Resources Officers respectively for their failure and gross negligence to audit and detect fraudulent payments on pay roll for over 3 years.”

The company said, “We are also aware of a purported press release appointing Mrs Rekiat Momoh as the Ag MD/CEO.”

Emphasising on the position of the company, Mr Egeregor stated that the board of EKEDC had never met nor decided on the purported sack of Dr Sanda and did not consider the appointment of an acting MD/CEO..

“The board of EKEDC, on which I sit has neither met nor decided on the purported appointment of Mrs.Rekiah Momoh as Ag.MD/CEO , except Mr.Otubu and his close circle of colleagues have transformed themselves into “the board”. I and all well-meaning members of the EKEDC board, I believe, should vehemently distance themselves from this contrivance.

“The Board is not a one man show, and matters are to be collectively deliberated on and approved by Board members. Mrs Momoh is the Chief Commercial Officer of EKEDC and remains so.

“Mr.Otubu and his co-travelers have chosen to cherry pick the exhaustive interaction with NERC where one of the Commissioners wondered why no one was yet to be tried or in prison for these grievous allegations and how to recover lost funds part owned by the federal government. They are more focused on settling scores with our performance driven MD/CEO, Mrs Tinu Sanda

“At EKEDC, we are known for due process and legality, and anything that would take away from our avowed commitment to due process and corporate governance would be resisted.

“Therefore, let it be known that Dr. Tinuade Sanda remains the MD/CEO of Eko Electricity Distribution Company and has since her assumption of office as the MD/CEO, turned EKEDC around for good, with very great milestones and achievements which every sector player recognises.

“She made EKEDC the number one distribution company in Nigeria. The Investors, Board, and Management of EKEDC believe firmly in her leadership and look forward to many more record setting and breaking moments.”

About the Author

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Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.

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Sam Diala, THEWILLhttps://thewillnews.com
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.

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