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KANN, AEDC Board Members Bicker Over Ownership

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The Board Chairman of Abuja Electricity Distribution Company (AEDC), Ambassador Shehu Malami, has denied the purported change of ownership of the company as infighting on ownership of the DisCo persists among the directors and shareholders.

Ambassador Malami insisted that there was no change of board of KANN (being the 60% shareholder of AEDC) nor that of AEDC.

According to the Chairman in a statement, “For the records the Board of AEDC is the only authorised body that can appoint or remove its directors, and has made no such decision in recent time.

“As a matter of fact, the last meeting of AEDC Board was held on 22nd October 2020, and at that meeting there was no such appointment or removal of any director by the Board of AEDC.

“Since then, there has not been any other meeting of AEDC Board known to me as its Chairman, or known to any of the directors on the Board of AEDC that represent 70% majority holding.”

Ambassador Malami further noted that an attempt to change the composition of the Board and shareholders of KANN at the CAC amounted to “brazen illegality packaged and processed at the CAC, in utter disregard to the ongoing court processes.”

The full text of the statement signed by the Chairman reads below:

Press Release by Chairman of the Board of AEDC

The Board of AEDC is alarmed by the publication of a purported change of its ownership, and its Board of Directors.

The general public is hereby advised to disregard such act of brazen illegality by what appears to be an act from one of the shareholders of KANN (KANN being the 60% shareholder of AEDC).

For the records the Board of AEDC is the only authorised body that can appoint or remove its directors, and has made no such decision in recent time. As a matter of fact, the last meeting of AEDC Board was held on 22nd October 2020, and at that meeting there was no such appointment or removal of any director by the Board of AEDC. Since then, there has not been any other meeting of AEDC Board known to me as its Chairman, or known to any of the directors on the Board of AEDC that represent 70% majority holding.

We have also learnt that there was another attempt to change the composition of the Board and shareholders of KANN at the CAC. This act hinged upon brazen illegality packaged and processed at the CAC, in utter disregard to the ongoing court processes.

I would like to state here that the Board of both KANN and AEDC remains unchanged. The Board of each of the companies is responsible to appoint or remove its directors, and this has not happened.

As the subsisting Chairman of both Board of KANN and AEDC I hereby urge the staff of AEDC and the general public to disregard all communications to the contrary.


Ambassador Shehu Malami CON, OFR
Chairman of the Board of AEDC and Also Chair of the Board of KANN

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