Staff of the Northern Electricity Distribution Company (NEDCo) has demanded immediate removal of the Managing Director, Osmani Aludiba Ayuba, over non-performance.
One of the update statements signed by the chairman of Senior Staff Association, William K. Asare and VRA Divisional Union chairman, Fuseini Adjei, to all the staff, indicated that the current Managing Director is gradually collapsing the NEDCo.
According to the staff, meetings were held from 6th to 10th January, 2023 calling on the MD Osmani Ayuba to voluntarily resigned or be removed from office by the board of directors before the end of January 2023, but their demand has not been met.
For that matter, the worried staff today, 1st February 2023, hoisted red banners across all their operational areas including Tamale, Wa, Yagaba, Nandom, Techiman, Pusiga, Bolga among others places. Their service centers in the country are also included.
The staff said the Managing Director was appointed on 1st July 2019 to help turn around the finances of NEDCo but he has failed.
According to the staff, net financial loss of NEDCo instead of improving has deteriorated from GHS315, 398 million in 2018 to GHS392, 406 million as at September 2022 as the estimated net loss for 2022 is over GHS400 million which means NEDCo’s performance deteriorated by at least 24% over the period.
They stated that cash flow situation of NEDCo is worsening every day, as a result, NEDCo is unable to pay most of its suppliers and contractors.
They revealed that, as at September 2022, NEDCo was indebted to its major suppliers to the tune of GHS1.8 billion which NEDCo is currently struggling to raise letters of credit to procure critical materials and equipment required for its operation under the watch of Mr Ayuba.
For this and many reasons, the staff hoisted red banners in their offices across the country and threatened to withdraw their service.