IBEDC Appoints New Chairman and Reconstitutes Board

The Ibadan Electricity Distribution Company (IBEDC) announced the reconstitution of its board of directors after the resignation of three nominees from the Asset Management Corporation of Nigeria (AMCON). Tund J.

Afolabi has been appointed as the new chairman of the board. The newly constituted board includes members such as Ayodeji Ariyo Gbeleyi, Michael Magaji, Taiwo Afolabi, Oladapo Afolabi, Tund Fayinka, Oluwaseyi Akinwal, and Adeolu Ijos.

This transition marks a significant milestone in the company's corporate journey, signaling a renewed strategic direction focused on stability and sustainable growth. Afolabi assured customers that there would be no service disruptions during this transition and emphasized the commitment of the new core investor to maintain capital investment and improve service delivery.

He also pledged that there would be no job losses as a direct result of the transition and highlighted the board's commitment to regulatory compliance and strengthening governance frameworks.