Soetan Exits As Ikeja Electric Names Acting CEO

Ikeja Electric (IE) has announced the appointment of Mrs Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective July 1, 2026.

The company said the appointment is part of efforts to strengthen its leadership structure and position the organisation for its next phase of growth, innovation and service excellence.

The appointment follows the transition of Mrs Folake Soetan, who has served as Chief Executive Officer since 2020 and is set to take on broader strategic responsibilities across the energy sector.

Chairman of Ikeja Electric, Kola Adesina, commended Soetan for what he described as her transformational leadership and lasting impact on the company.

“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 led improvements in operational performance, strengthened stakeholder confidence and positioned the company for sustainable growth in Nigeria’s evolving electricity market.

Reflecting on her time as CEO, Soetan said it had been an honour to lead the company and work with 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 said.

The Board said it approved Onyelucheya’s appointment based on her leadership experience, institutional knowledge and strategic vision.

Adesina described her as a leader with the capacity to build on the company’s existing foundation.

“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 said.

Onyelucheya, a senior corporate executive and financial leader, has over 20 years of experience in business strategy, financial control and operational growth.

She has held senior roles in banking and energy, with experience in process digitisation, automation, revenue assurance and organisational turnaround.

She holds a BSc in Accounting from Nnamdi Azikiwe University and an MSc in Finance and Financial Law from the University of London. She is also an alumna of Harvard Business School.

Speaking on her appointment, Onyelucheya thanked the Board for the opportunity and pledged to strengthen service delivery.

“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 said the leadership transition reflects Ikeja Electric’s commitment to continuity, operational excellence and reliable energy service delivery.

He added that the company would continue to improve customer experience, expand energy access and support sustainable development