The Eko Electricity Distribution Company (EKEDC) Plc says the directive terminating the appointment of Tinuade Sanda from her role as managing director (MD) and chief executive officer (CEO) has been nullified, The Cable reports.
Babor Egregor, EKEDC’s chairman, legal and regulatory committee, board of directors, made the clarification in a statement on March 27.
According to EKEDC, this follows subsequent clarification issued by the Nigerian Electricity Regulatory Commission (NERC) dated March 27.
The DisCo added that an earlier directive by the regulator on March 21 “was misunderstood and unilaterally acted upon by the Chairman of the Board without recourse to the Board or the appropriate committees of the Board saddled with the responsibility for such oversight”.
The “erroneous and unilateral action” the DisCo said, caused the chairman of its board to release a press statement recalling Sanda and other management staff to WPG Ltd, its parent company, without due process and against the directive of the NERC correspondence.
“The purported removal of the Managing Director/Chief Executive in a clear breach of the code of corporate governance is hereby reversed, null and void,” Eko DisCo said.
Based on the NERC clarification, the DisCo said all contracts of employment of anyone working for EKEDC (as well as WPG Ltd, its core investor and others) must be subject to and regulated by its condition of service.
“The legal fulcrum and basis for the purported recall of the seconded staff has been vitiated and now non-existent since the basis of the recall of the seconded staff was the initial misinterpretation of the previous NERC resolution/orders,” the company said.
However, EKEDC said the “express recall and termination of the contract of employment of staffers/employees whose actions led to a loss of revenue to EKEDP. The staff in question, Wola Joseph-Condotti, Sheri Adegbenro and Aik Alenkhe, had been subjected to Disciplinary Committee proceedings – the outcome of which has been contested by some Board members.”
The aforementioned staff, according to the company, were accused of fraud and negligent actions through ghost workers and exited staff, which occasioned financial losses to Eko DisCo.
STAFF FACING DISCIPLINARY COMMITTEE WILL NOT RESUME
“As a responsible corporate entity, EKEDP shall be providing full co-operation with the appropriate law enforcement agencies including the Nigerian Police, the Economic & Financial Crimes Commission (EFCC) and the leadership of the Nigerian Body of Benchers and relevant members of the Legal Practitioners Disciplinary Committee for further actions on the alleged fraud perpetuated by the afore-mentioned persons,” the company said.
“We once again thank our Regulator, NERC, for providing this clarification, the NESI stakeholders, and the public for their kind concerns, as well as the employees of EKEDP and WPG Limited for their patience through all of this.”
Meanwhile, EKEDC said the Bureau of Public Enterprises (BPE) also serves as a federal government representative on the EKEDC board of directors.