Eko Electricity Distribution Company (EKEDC) has announced the appointment of Michael Ogun as its new Chief Finance Officer (CFO), marking a significant internal elevation within the power distribution company’s leadership team.
The appointment, which takes effect in 2026, follows nearly a decade of progressive responsibility at EKEDC, where Ogun most recently served as Head, Corporate Reporting Strategy. In that role, he was instrumental in strengthening financial controls, enhancing reporting discipline, and embedding analytical rigour across the finance function—changes the company says improved both governance and strategic decision-making.
A Finance Leader Formed from Within
EKEDC described Ogun as a “transformative finance leader” whose career has been shaped by building financial credibility, pioneering analytical financial models, and driving digital modernisation. His promotion reflects a deliberate strategy by the utility to deepen institutional continuity at a time when Nigeria’s power distribution companies are under pressure to improve operational efficiency, attract investment, and meet regulatory expectations.
Before joining EKEDC, Ogun built a broad-based financial career spanning:
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Commercial banking at Oceanic Bank (now Ecobank)
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Investment banking experience with Simmons & Company in Aberdeen
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Corporate finance advisory at Meristem Capital Limited
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Asset and investment management leadership at Ibile Holdings Limited, wholly owned by the Lagos State Government
This mix of banking, advisory, and public-sector investment exposure has given him what EKEDC describes as a “360-degree view of finance,” covering capital structuring, treasury management, investment appraisal, and corporate governance.
Academic and Professional Foundation
Ogun holds a BSc in Finance from the University of Lagos and an MSc in Financial Management from Aberdeen Business School. He is currently completing an Executive MBA at Lagos Business School, further strengthening his strategic and leadership credentials.
Within EKEDC, his career progression has included roles in budgeting, financial planning, network investment appraisal, treasury, and corporate reporting—experience that positions him to oversee the company’s finances end-to-end as CFO.
Strategic Implications for EKEDC
His appointment comes as electricity distribution companies face mounting scrutiny over liquidity, capital expenditure discipline, and balance-sheet sustainability. EKEDC said Ogun’s blend of strategic vision, operational depth, and team leadership will be critical as the company advances its growth agenda and works to deliver sustained value to customers, regulators, and shareholders.
