Ikeja Electric Appoints Ogochukwu Onyelucheya as New Acting CEO

Ikeja Electric has appointed Mrs. Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective July 1, 2026, marking a new leadership chapter for Nigeria’s largest electricity distribution company by customer base.

The appointment was announced in a statement issued by the company’s Head of Corporate Communications, Kingsley Okotie, and reported by the News Agency of Nigeria (NAN).

Onyelucheya succeeds Mrs. Folake Soetan, who has led Ikeja Electric since 2020 and is widely credited with driving operational transformation, innovation, and customer-focused reforms during her tenure.

According to the company, the leadership transition is designed to strengthen executive leadership, deepen innovation, improve customer experience, and accelerate sustainable growth across its operations.

Board Expresses Confidence in New Acting CEO

Chairman of Ikeja Electric, Kola Adesina, said Onyelucheya’s appointment comes at a pivotal stage in the company’s growth journey and reflects the Board’s confidence in her ability to lead the next phase of transformation.

“Ogochukwu brings leadership experience, strategic clarity, and execution discipline. We are confident in her ability to build on the foundation already laid,” Adesina said.

He added that her leadership would support the company’s drive to improve operational efficiency, strengthen innovation, enhance customer-focused initiatives, and deliver long-term value for stakeholders.

Accepting the appointment, Onyelucheya described the opportunity to lead Ikeja Electric as both an honour and a responsibility.

“Taking responsibility for building on the strong foundation at Ikeja Electric is a privilege,” she said.

She pledged to build on the company’s achievements by improving service delivery, strengthening customer trust, and ensuring sustainable business performance.

“We will remain focused on sustainable performance and delivering greater value,” she added.

Ogochukwu Onyelucheya Brings More Than 20 Years of Experience

Onyelucheya assumes the leadership role with more than two decades of experience across Nigeria’s banking and energy sectors.

Throughout her career, she has led strategic planning, financial management, operational transformation, process digitisation, automation initiatives, and revenue assurance programmes. Her experience spans corporate finance, business transformation, operational excellence, and strategic execution.

She holds a Bachelor’s degree in Accounting from Nnamdi Azikiwe University and a Master’s degree in Finance and Financial Law from the University of London. She is also an alumnus of Harvard Business School, further strengthening her credentials as a finance and business leader.

The Board said her extensive leadership experience and strategic expertise position her well to guide Ikeja Electric through its next phase of growth and operational excellence.

Tribute to Outgoing CEO Folake Soetan

The company also paid tribute to outgoing Chief Executive Officer Folake Soetan, acknowledging her significant contribution to the transformation of Ikeja Electric over the past six years.

According to Chairman Kola Adesina, Soetan played a critical role in strengthening the organisation’s resilience, improving operational efficiency, driving innovation, and building greater confidence among customers, regulators, investors, and other stakeholders.

“Folake has been instrumental in transforming Ikeja Electric into a more resilient organisation,” Adesina said.

Reflecting on her tenure, Soetan expressed gratitude to the Board, employees, customers, and partners for their support throughout her leadership.

“It has been an honour to lead Ikeja Electric and work with a committed team,” she said, adding that she looks forward to continuing to contribute to the broader development of Nigeria’s electricity and energy sector.

Leadership Change Comes Amid Industry Challenges

The executive transition comes at a critical period for Ikeja Electric and Nigeria’s electricity distribution industry.

Earlier this year, the Federal Competition and Consumer Protection Commission (FCCPC) sealed the company’s headquarters in Alausa, Lagos, over alleged violations of consumer rights under the Federal Competition and Consumer Protection Act (FCCPA) 2018.

At the time, the FCCPC said the enforcement action was intended to protect consumers and ensure regulatory compliance across the electricity distribution sector.

As Onyelucheya assumes leadership, industry stakeholders will be watching closely to see how Ikeja Electric advances operational efficiency, strengthens customer service, navigates regulatory expectations, and delivers on its long-term growth strategy.