This was made known in a statement issued by the Head, Corporate Communications, Abdulazeez Abdullahi, on Friday.
According to the statement, Yahaya assumed the role of Managing Director about 18 months ago, during a critical period for Kaduna Electric.
The statement read, “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 said 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.
“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,” it added.
In his personal message to staff mrmbers, a copy of which was obtained by our correspondent, Yahaya said it was time to move on after fulfilling corporate reform and turnaround-spanning infrastructure revamp in the company.
He wrote, “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.”
PUNCH Onlie reports that the company is expected to commence a search for the vacant leadership role in the coming days and steer the company through the next phase of its development.
