Kaduna Electric Announces MD’s Resignation
The Management of Kaduna Electric has disclosed the resignation of its Managing Director, Yusuf Yahaya.
This was disclosed in a statement issued by the Head, Corporate Communications, Abdulazeez Abdullahi, on Friday.
According to the statement, “Kaduna Electricity Distribution Company (Kaduna Electric) hereby announces the resignation of Yusuf Usman Yahaya as Managing Director/Chief Executive Officer of the Company.
“Yahaya was appointed in July 2022 in furtherance of concerted efforts by stakeholders- Nigerian Electricity Regulatory Commission, Bureau of Public Enterprises, Central Bank of Nigeria and Lender- African Export-Import Bank and Fidelity Bank- for an intervention in Kaduna Electric alongside select electricity distribution companies in Nigeria.
“Kaduna Electric wishes to convey its gratitude to Engr. Yusuf Usman Yahaya for his leadership and management in initiating the much-needed corporate turnaround of the company and extends our best wishes in his next endeavours.”
Abdullahi noted that the appointment coincided with an intervention by key stakeholders, including the Nigerian Electricity Regulatory Commission, the Central Bank of Nigeria, and lenders such as the African Export-Import Bank and Fidelity Bank.
It stated that, “Since his appointment, Yahaya has led and executed a decisive ongoing turnaround programme as to effect critical people and organizational reform, accomplish commercial growth, and enhanced service delivery to our customers aided by extended investments in network and energy management infrastructure."
In his personal message to staff mrmbers, a copy of which was obtained by a correspondent, Yahaya expressed that it was time to move on after fulfilling corporate reform and turnaround-spanning infrastructure revamp in the company.
“I am moving on from Kaduna Electric. When I was appointed about 18 months ago, it was at a time of critical lows at the company, and in response to which stakeholders – Nigerian Electricity Regulatory Commission, Central Bank of Nigeria, and Lenders – African Export-Import Bank and Fidelity Bank- had stepped in as part of an intervention across multiple Electricity Distribution Companies including Kaduna Electric.
“The intervention was intended for six months and we have stayed for much longer given unforeseen challenges around the intervention objectives and very difficult persistent circumstances.
“In the time since then, we have taken on the challenges by addressing corporate reform and turnaround spanning infrastructure revamp across our network in Kaduna, Kebbi, Sokoto and Zamfara States, enhancing commercial performance, improving the balance sheet of the company and delivering improved services to our customers. In the course of these, we also sought to enhance the terms and working conditions of our most prized asset employees," he wrote.