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Tinuade Sanda’s Devoted Leadership At Eko Electricity Distribution Company (EKEDC)

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Tinuade Sanda’s Devoted Leadership At Eko Electricity Distribution Company (EKEDC)—-Under my leadership as MD/CEO of Eko Electricity Distribution Company (EKEDC), my team and I worked diligently to address various challenges and make significant progress in our operations. My role involved fostering a collaborative environment and providing strategic guidance, which contributed to our achievements and the setting of new benchmarks.

In 2022, I assumed office and encountered significant hurdles, including ATC&C losses at 29.87% and a CE of 82.69%. To address these challenges, my team and I adopted proactive strategies, encouraged collaboration, and remained steadfast in our commitment. By March 2024, we had made substantial progress, reducing ATC&C losses to 1% and improving CE to 99.25%, thereby establishing new operational efficiency benchmarks.

Under my leadership, EKEDC reached a milestone with its highest-ever monthly collection of N17.1 billion in January 2024, achieved without requiring a tariff increase. This accomplishment underscored the team’s financial acumen and strategic planning. Additionally, operational metrics showed notable improvement, with Energy Delivered totaling 261,785,052.50kWh and Energy billed at 236,050,490.21kWh.

Notably, I initiated the fast-delivery mass metering program (Mobile MAP Initiative) within 72 hours, resulting in the distribution of over 80,832 meters and a noticeable enhancement in customer service and satisfaction. Upon assuming office, I inherited the challenge of managing substantial loans, such as CBN Meter, operating expenditure (OPEX), and capital expenditure (CAPEX) loans. By prioritizing careful financial management, I successfully facilitated their repayment, thereby easing the financial burden on the company and contributing to a more stable financial environment.

By prioritizing a zero-tolerance policy for mediocrity and corruption, while also focusing on effective communication and strategic engagement, this contributed to EKEDC’s strong market remittance performance in Q3, 2023. Additionally, my commitment to excellence was recognized with prestigious awards, such as The Peak Performer CEO Of the Year (2023) and Vanguard’s Energy Icon of the Year (2023).

While rumors have been circulating, alleging that my appointment as MD/CEO had been terminated due to poor performance, it is important to clarify that this is a misrepresentation and not an accurate reflection of my performance as I have consistently received accolades from the board, recognizing my leadership as well as my management team’s strong performance.

For instance, on March 6, 2024, I received commendations from the Chairman, Human Resources & Corporate Services, Tunji Owolafe, following my correspondence about EKEDC’s compliance with market obligations, where he praised the performance of my team. He wrote in an email, “Dear MD, this is very good news, congratulations and well done to you and your team.” I had previously received similar accolades from Dr. Tunji Owolafe and the Board Chairman, Dere Otubu, on December 5th and 6th, 2023, for the strong November performance. Chairman Otubu wrote, “Congratulations to you and your team for the good performance in November.” These emails serve as evidence of the positive feedback I have received.

Under my leadership as MD/CEO of Eko Electricity Distribution Company (EKEDC), I encountered challenges beyond the operational realm. Despite my remarkable achievements and contributions to the company, I faced cyberbullying and slanderous attacks against my character.

What initially began as an investigation into fraudulent activities and ghost worker issues within the executive management team escalated into a malicious campaign aimed at discrediting me. Instead of addressing legitimate concerns, some individuals chose to propagate unfounded rumors and engage in cyberbullying tactics.

These attacks not only targeted me personally but also sought to undermine my professional reputation and leadership capabilities. The dissemination of false information and baseless accusations not only created unnecessary distractions within the company but also posed challenges to maintaining a focused work environment.

In the face of these unfounded rumors, I have consistently demonstrated transparency, integrity, and a strong commitment to excellence under my leadership. I remain dedicated to maintaining these core values, which have been the foundation of my leadership approach.

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Kyari Reacts To Senate Arrest Warrant, Says He Notified Committee of Medical Trip Abroad

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Kyari Reacts To Senate Arrest Warrant, Says He Notified Committee of Medical Trip Abroad

 

….Denies Dodging Probe, Pledges to Appear After Treatment

By Adesina Adeleja

 

Former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has described the Senate Committee on Public Accounts’ decision to issue an arrest warrant against him as “deeply shocking.”

In a formal letter addressed to the committee chairman, Kyari clarified that he had earlier informed the panel of his inability to appear due to medical treatment abroad.

“I refer to the news of the arrest warrant issued against me during the proceedings of your esteemed Committee today, 10th June, 2026. I am deeply shocked by the issuance of the warrant,” Kyari wrote.
He referenced a letter sent to the committee on May 11, 2026, in which he notified lawmakers that he was receiving medical care outside the country. In that correspondence, Kyari expressed his willingness to honour the committee’s invitation upon his return to Nigeria and offered to provide written responses to any urgent questions through his legal representatives.

“I also expressed my willingness to honour the Committee’s invitation as soon as I return to Nigeria,” he stated. “I wish to reiterate that I remain very willing and ready to honour the invitation of the Committee and to appear before it once I return to the country.”

Kyari firmly denied any attempt to evade the Senate’s invitation, noting that he had not received any fresh summons before the warrant was issued.

“However, I wish to respectfully state that I have neither received nor sighted the said invitation,” he said. “Had the invitation reached me, I would have gladly honoured it.”

The former NNPCL boss explained that his current medical condition has made it impossible for him to appear in person. He urged the committee to channel any questions or requests for clarification through his legal team to ensure prompt responses while he continues treatment abroad.

Kyari assured the Senate of his full cooperation and respect for the legislative oversight process. He pledged to appear before the committee personally as soon as his health permits.

Defence of Tenure

In the letter, Kyari also defended his leadership of the national oil company, stating that his team transformed NNPCL from a loss-making entity into a profitable commercial organisation. He added that all transactions during his tenure were properly documented and remain available for scrutiny at the NNPCL.
“I remain deeply grateful to my country for the opportunity afforded me to serve with utmost diligence and commitment,” he said.

Background

The Senate Committee on Public Accounts issued the arrest warrant after Kyari failed to appear at its sitting. The panel is investigating financial records and transactions of the NNPCL, including allegations surrounding over ₦210 trillion.

The motion for the warrant was moved by Senator Victor Umeh and seconded by Senator Adams Oshiomhole.

Kyari’s latest response appears aimed at dispelling suggestions of deliberate non-cooperation, attributing his absence primarily to health reasons and possible communication gaps regarding subsequent invitations. He has maintained that he has nothing to hide and remains committed to assisting the investigation.

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

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Alpha Morgan Bank Delivers Historic N1.9 billion PBT in First 10 Months of Operations

 

Alpha Morgan Bank has announced a landmark financial performance, recording Profit Before Tax of N1.9 billion in just 10 months of operations, a result that stands as a major milestone in Nigeria’s banking industry and reinforces the Bank’s emergence as one of the country’s most remarkable new-generation financial institutions.

With this performance, Alpha Morgan Bank did not only break-even within an exceptionally short period, but also delivered what is believed to be a record-setting early-profit performance in the Nigerian banking sector, underlining the strength of its strategy, the discipline of its execution and the confidence the market has placed in its business model.

The Bank’s strong debut performance was supported by robust growth across key financial and operating indicators. Highlights of the 10-month financial statement include customer deposit of over ₦103BN, gross earning of ₦13.1 billion, net interest margin of 67%, non-performing loan ratio of 0%.

The performance was driven largely by strong synergy in customer acquisition and branch expansion, a deliberate focus on growth in demand deposits, creation of quality risk assets and balance sheet efficiency. These achievements were further supported by robust operational processes powered by sound technology and systems, management depth and expertise, experience and strategic oversight provided by the Bank’s Board.

Speaking on the performance, the Managing Director, Ade Buraimo, described the result as a significant validation of the Bank’s vision, business model and execution capacity.

“This is more than a financial milestone; it is a strong statement of what is possible when vision, discipline, sound execution, and market opportunity come together. From inception, Alpha Morgan Bank was built to be a commercial bank that is solution-driven and committed to delivering value at scale. To record a PBT of N1.9 billion in our first 10 months of operations is both historic and deeply encouraging. It reflects the dedication of our people, the trust of our customers and the solid foundation we have laid for long-term growth.”

 

 

 

About Alpha Morgan Bank

Alpha Morgan Bank is a customer-centric, innovative, and solutions-driven commercial bank, with a clear commitment to delivering “Satisfying Banking.”

Alpha Morgan Bank commenced operations in March 2025 with the rare distinction of regulatory approval for 14 branches across the country. This early footprint, combined with disciplined market execution, has enabled the Bank to build momentum across key business segments in record time.

Alpha Morgan Bank focuses on:

  • Human-Centred Technology: Digital tools designed for intuitive, everyday relevance and not vanity metrics.
  • Transparent Operations: From pricing to service promises, every process is clear, accountable, and customer friendly.
  • Customer-Centric Innovation: Continuously developing solutions and services driven by customer insights to deliver meaningful value and enhance satisfaction.

More than a financial institution, Alpha Morgan Bank positions itself as a partner in progress. Its vision is to drive possibilities, enable dreams, and reemphasize what it means to experience Satisfying Banking in Nigeria.

More about Alpha Morgan Bank on www.alphamorganbank.com

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