Ikeja Electric has announced the appointment of Mrs. Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective July 1, 2026, as the electricity distribution company strengthens its leadership to drive growth, innovation, and improved customer service across its operations.
The appointment follows the transition of Mrs. Folake Soetan, who has led the company as Chief Executive Officer since 2020 and will now assume broader strategic responsibilities across the power and upstream businesses of Sahara Group.
In a statement issued by the Head of Corporate Communications, Kingsley Okotie, the Chairman of Ikeja Electric, Mr. Kola Adesina, commended Soetan for her transformational leadership and significant contributions to the company’s growth.
“Folake has been instrumental in transforming Ikeja Electric into a more resilient, customer-focused, and performance-driven organisation. Her leadership reflects the very essence of innovation, resilience, and impact,” Adesina said.
During her tenure, Soetan spearheaded major improvements in operational performance, enhanced stakeholder confidence, and positioned Ikeja Electric for sustainable growth within Nigeria’s evolving electricity market.
Reflecting on her time as CEO, Soetan described her leadership journey as an honour.
“It has been an honour to lead Ikeja Electric and work alongside a team committed to delivering value to customers and communities. As I take on this new role across Sahara’s Power and Upstream businesses, I look forward to supporting the Group’s vision of delivering sustainable, inclusive, and impactful energy solutions across Africa,” she stated.
The Board expressed confidence in Onyelucheya’s leadership capabilities, citing her proven track record in organisational transformation, operational excellence, and sustainable business performance.
Adesina said the new Acting CEO possesses the experience and strategic vision required to lead the company through its next phase of growth.
“Ogochukwu brings a compelling blend of leadership experience, strategic clarity, and execution discipline. We are confident in her ability to build on the strong foundation established at Ikeja Electric while driving innovation, efficiency, and customer-centric growth. She has our full support as she leads the business into its next chapter,” he added.
Onyelucheya is a seasoned corporate executive and financial expert with over two decades of experience in business strategy, financial management, and operational growth across the banking and energy sectors.
She has built a reputation for leading large-scale business transformation initiatives through process digitisation, automation, and the implementation of robust revenue assurance systems. Her expertise in identifying operational inefficiencies and strengthening business processes has consistently delivered improved organisational performance.
She holds a Bachelor of Science degree in Accounting from Nnamdi Azikiwe University, a Master’s degree in Finance and Financial Law from the University of London, and is an alumnus of Harvard Business School.
Speaking on her appointment, Onyelucheya expressed appreciation to the Board for the confidence reposed in her.
“Taking on the responsibility of building on the strong foundation at Ikeja Electric is a privilege for the incredible IE team and me. Our focus remains on delivering improved service, deepening customer trust, and driving sustainable performance as we continue to create value for all stakeholders,” she said.
Adesina noted that the leadership transition reflects Ikeja Electric’s commitment to continuity, operational excellence, and the delivery of reliable electricity services that improve customer experience, expand energy access, and support sustainable development.
He expressed confidence that under Onyelucheya’s leadership, the company would consolidate its achievements, strengthen stakeholder confidence, and continue creating value for customers, employees, regulators, investors, and host communities.
