The Bureau of Public Enterprises (BPE) has named *Mr. Bada Akinwumi as Interim Managing Director (MD)* of the Abuja Electricity Distribution Company (AEDC) Plc.
Other members of the Interim Management named on Thursday evening were:
Sani Usman, *Interim Chief Business Officer*.
Babajide Ibironke, *Interim Chief Finance Officer, Donald Etim, *Interim Chief Marketing Officer* and Femi Zachaeus, *Interim Chief Technical Officer*.
AEDC has of recent been having significant challenges that led to the sack of its management team.
The Minister of Power Engr. Abubakar Aliyu clarified in a statement that the company has been facing significant operational challenges arising from a dispute between the core investor (KANN CONSORTIUM ) as owner of 60 percent equity and the UBA as lenders for the acquisition of the majority shareholding in the public utility.
The situation has led to deteriorating service due to lack of access to intervention lending to a point whereby the legitimate entitlement of workers are been owed. This also led to service disruption.
He further explained that the changes in the shareholding and appointment of an interim management for AEDC have been approved by the Nigerian Electricity Regulatory Commission ( the industry regulator ) and the Bureau of Public Enterprises (BPE) as co-shareholders of AEDC.