Onagoruwa holds forte as IBEDC pioneer MD resigns

THE pioneer Managing Director of the Ibadan Electricity Distribution Company (IBEDC), Fortunato Leynes, has resigned his appointment with the company.

  IBEDC is one of the survivor companies of the unbundled Power Holding Company of Nigeria (PHCN) after its privatization by the Federal Government. It handles electricity distribution in Oyo, Ogun, Osun, Ekiti, Kwara and part of Niger states.

  A statement by the company on Sunday said the resignation became effective on Friday, February 27.

  The statement signed by Mrs Angela Olanrewaju, Head of Corporate Affairs, read in part: “Engineer Fortunato Leynes resigned on the 9th of February 2015 and his contribution to the growth of the organisation is very much appreciated by the Board of Directors, Management and staff of IBEDC.”

  The statement added that, “Ms. Bolanle Onagoruwa has been appointed officer in charge pending the resumption of the succeeding MD/CEO. This is effective at the close of business on 27th February 2015.”

  Onagoruwa was a Director-General of Bureau of Public Enterprises.

  IBEDC, however, noted that the exit of Leynes would not affect its technical services agreement with Meralco- its technical partner in The Philippines from where Leynes had been seconded to the company.