Dr. Victor Ojelabi

Energy Management, Real Estate Development, Sales, Management and Consultancy

I was appointed as a demonstration of the confidence the Board has in me, recognizing my experience, extensive knowledge, drive, and passion for the company’s success and to drive the turnaround strategy that will position AEDC as the leading electricity distribution company in Nigeria. Key Achievements: • Repositioned and refocused AEDC by implementing a feeder management concept to ensure efficient and accurate energy management and accounting along electrical boundaries, rather than the traditional, less efficient geographical boundaries. • Streamlined organizational structure by eliminating duplicated roles, decentralizing departments, and strengthening critical functions. I identified and reassigned excess manpower from the Head Office to field operations, and Customer Relationship Officers (marketers) in high-metered areas were reskilled with revenue protection skills. • Enhanced metering and energy allocation: Introduced smart energy allocation, feeder profitability analysis, and comprehensive metering on all 33 kV feeders (incoming and outgoing). I led initiatives to recertify all feeder meters within the FCT, close the maximum demand customer metering gap, and ensure the recertification and recalibration of all maximum demand customers’ meters. • Reduced ATC&C losses: AEDC Aggregate Technical, Commercial, and Collection (ATC&C) losses were gradually reduced from 45% to the mid-30% range.

Supervised Operational Compliance, Audit and Risk Management. Audit & Risk • Defines the overall Internal Audit & Control Framework including Governance Approach, Procedures, Processes and Tools. • Defines the Code of Ethics for the organization to ensure all business operations are conducted with integrity. • Ensures compliance with the statutory requirements set down by the Regulators and the provisions of CAMA • Coordinates the development of Internal Audit and Control policies and procedures. • Conducts Risk Assessments and identifies/puts controls in place to mitigate identified risks. • Coordinates the development of a comprehensive Audit Plan used to outline the nature/scope of internal audit &control activities and ensures effective execution. • Identifies and recommends business process changes resulting in strengthened internal controls and operational efficiencies. • Participates in the execution of new company initiatives and provides guidance on internal controls and efficiencies. • Prepares timely annual audit reports for executive management, the Audit Committee, and the Board of Directors. • Contributes, as appropriate, in the year-end financial audit with the external auditor. Operational Compliance. • Primarily responsible for overseeing compliance within IBEDC, and ensuring compliance with laws, regulatory requirements, policies, and procedures, from policy development and monitoring to enforcement and implementation. • To help IBEDC to increase the efficiency in operations to eliminate/decrease ATC&C losses associated with distribution, energy accounting, billing, collection, and at the same time including control on employees, customers, and third-party control. • Implement, manage, and embed corporate governance and compliance framework for all IBEDCs operations and ensure that there are policies, processes, procedures, and risk management guidelines required to maximize shareholders and stakeholder values.

As the Chief Strategist and Principal, I supervised the sourcing of clients through networking. I focus on dimensioning and determining their needs and tailoring solutions, processes and procedures that suit their organizations. I also direct our engagement in residential real estate development and sales

I had the primary responsibility for the planning, implementation, managing and running of all the finance activities of the group, including business planning, budgeting, forecasting and negotiations. This extends to obtaining and maintaining investor relations and partnership compliance.