Abdulaziz Yari has been appointed chairman of the board of Geregu Power Plc, less than 24 hours after billionaire investor Femi Otedola exited the power generation company.
The changes were disclosed to the Nigerian Exchange Limited (NGX) and approved at a board meeting held on Monday, following a change in the ultimate beneficial ownership of the company’s issued share capital.
Yari, a former governor and senator, assumed the role of board chairman with immediate effect.
The company said his appointment reflects a distinguished career spanning education, politics and public administration, including service in the National Assembly.
As part of the board reconstitution, Abdulkadeer Njiddah was appointed as a non-executive director. Geregu Power described Njiddah as an accountant and finance professional with extensive experience across academia, public sector governance and the power sector.
Usman Mohammed was appointed as an independent non-executive director. He is a chartered accountant with over 30 years of experience in the power sector, particularly in utility reform, financial management and infrastructure delivery.
Mohammed Jaafaru also joined the board as an independent non-executive director. He currently serves as the chief operations officer of Advance Link Petroleum Limited and has expertise in operations, corporate governance and business process automation.
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In addition, Neka Adogu was appointed as an independent non-executive director. The company noted that Adogu is a financial services professional with over 22 years of experience and previously held senior leadership positions at Access Bank Plc.
Mahmud Magaji, a Senior Advocate of Nigeria (SAN), was also appointed as an independent non-executive director.
Geregu Power described him as a seasoned legal practitioner with experience across several areas of law and service on key judicial and professional bodies.
Meanwhile, the board accepted the resignation of Femi Otedola as chairman, alongside Akin Akinfemiwa, chief executive officer; Julius Omodayo-Owotuga, deputy chief executive officer; and other board members including Christopher Adeyemi, Olawunmi Otedola, Anil Dua, Doron Grupper, Paul Gbededo and Andrew Gamble, with immediate effect.
