Connect with us

General News

Yari assures investors of board’s financial commitment as Geregu Power settles bond obligations 

Published

on

Abu Umar 

The former Governor of Zamfara state and the Senator representing Zamfara West Senitorial District, Dr. Abdul’aziz Abubakar Yari who is also the Chairman, Geregu Power PLC has assured investors and stakeholders of the company on the Board’s determination to uphold it’s financial commitment as the company settled its outstanding bond obligations in full.

The development marked a significant step in the company’s continued efforts to strengthen investors’ confidence, preserve shareholders’ value and maintain high standards of corporate governance.

Geregu Power confirmed that payment of its outstanding bond obligations was effected in full on August 19, 2026.

Speaking on the development, Senator Abdul’aziz Abubakar Yari, Marafan Sokoto, said the Board was committed to ensuring that the company meets its obligations to bondholders and trustees.

“Our Board is fully committed to meeting Geregu’s financial obligations to its bondholders and trustees. I am pleased to confirm that payment has just been effected in line with our obligations,” he said.

Senator Yari assured stakeholders that the Board would continue to take all necessary measures to protect the interests of bondholders and shareholders.

The company also said it was working constructively with relevant parties to resolve legacy administrative matters that predated the current Board, noting that the process would not affect its capacity to meet its bond obligations.

The Geregu chairman further reaffirmed the Board’s support for the transformation of Nigeria’s power sector under the Federal Government’s Renewed Hope Agenda.

He said the company would continue to play a significant role in supporting the nation’s power sector through reliable power generation.

Geregu Power said it would issue formal confirmation of settlement upon completion of the payment process and continue to provide bondholders, trustees and other stakeholders with updates on any tangible developments.

The company remains focused on delivering sustainable and efficient power generation as part of its contribution to Nigeria’s economic growth and development.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General News

Panel recommends dismissal of NSCDC commandant, other officers, compensates victims’ families

Published

on

By Our Reporter

The Chairman of the Independent Investigative Committee on the death of some Niger miners in the state, Jonathan Kure, has recommended that one point four billion be paid to the families of 33 victims and 44 survivors.

Speaking in Abuja while presenting the report of the committee on Tuesday, Kure said the deaths were avoidable as the victims, including 14 minors, were held in inhuman conditions.

The committee also recommended summary dismissal of the state commandant of the Niger State Command of the Nigeria Security and Civil Defence Corps and all other officers who were directly involved in the detention and eventual death of the miners.

The committee equally recommended institutional reforms for the Nigeria Security and Civil Defence Corps in order to strengthen the leadership of the corps.

The Minister of Interior, Olubunmi Tunji-Ojo, who received the report, promised to implement the recommendations of the committee in order to ensure justice for all affected persons.

Tunji-Ojo also directed the commandant of the Corps to immediately suspend all officers who cleaned up the detention centre in order to destroy evidence.

Continue Reading

General News

Again, Tinubu seeks Senate approval for $20.5bn, €1.04bn foreign loans

Published

on

By Our Reporter with agency report

President Bola Tinubu has sought the approval of the Senate for a 2026–2027 supplementary external borrowing plan of $20.52 billion dollars and 1.05 billion euros.

Tinubu’s request is contained in a letter addressed to Senate President Godswill Akpabio and read at plenary on Tuesday.

Tinubu said the proposed borrowing plan would be utilised on critical sectors of the economy, including infrastructure, agriculture, healthcare, education, water supply, security, employment generation and financial management reforms.

He said the funds would help address the country’s infrastructure deficit and bridge the financing gap required to implement critical development projects.

The president said that the projects and programmes under the plan were selected following technical and economic evaluations, with consideration on its anticipated contributions to Nigeria’s socioeconomic development.

“These initiatives aim to generate employment, promote skill acquisition, foster entrepreneurship, reduce poverty and enhance food security, all of which improve the livelihood of the Nigerian child,” he said.

Tinubu said most of the projects and programmes would be implemented across 36 states and the Federal Capital Territory. (FCT).

He said substantial investment in infrastructure remained necessary to support economic growth and address longstanding development challenges.

“In light of the need for significant infrastructure investment in the country and the vast financial resources needed to address this gap.

“It has become essential to pursue prudent external borrowings to close the financing shortfall,” the President said.

He said the funds would primarily be channelled into critical infrastructure projects, particularly in the power, transportation and healthcare sectors.

Tinubu urged the Senate to give the borrowing plan urgent consideration, adding that approval would enable the government to meet its obligations to Nigerians through timely disbursements and effective project implementation.

Senate President Godswill Akpabio, in his remarks, said that the borrowing plan had been previously featured in the approved borrowing plan of the federal government.

He thereafter referred the request to the Senate Committee on Local and Foreign Debts for further legislative inputs with collaboration from the Committees on Appropriations and Finance.

“The borrowing plan is attached, but of course, this was even earlier approved in our budget, and also the external borrowing plan was approved as far back as 2025 to 2027,” Akpabio said. (NAN)

Continue Reading

General News

Full list of 2026 Ballon d’Or winners

Published

on

England captain Harry Kane has been crowned the 2026 men’s Ballon d’Or winner, beating Lamine Yamal and Kylian Mbappé to claim the prestigious individual award.

Kane received the award at the Palladium Theatre in London, United Kingdom, on Monday, becoming the first English player to win the men’s Ballon d’Or since Michael Owen in 2001.

The 33-year-old striker enjoyed a remarkable 2025/26 season, scoring 73 goals for club and country. His goals played a key role in helping Bayern Munich secure the German Bundesliga title and reach the semi-finals of the UEFA Champions League.

Kane also captained England at the 2026 FIFA World Cup in North America, where the Three Lions finished with a bronze medal.

Meanwhile, Barcelona and Spain legend Alexia Putellas won the women’s Ballon d’Or for the third time, joining fellow Spaniard Aitana Bonmatí as the only players to have achieved the feat.

Putellas’ latest triumph further underlines her status as one of the most decorated players in women’s football.

Earlier in the ceremony, Arsenal and England forward Bukayo Saka received the Socrates Trophy in recognition of his humanitarian and charitable activities.

Saka was honoured for his charity work, which has supported surgeries for children in Nigeria and other African countries.

Full List of 2026 Ballon d’Or Winners

1- Men’s Ballon d’Or: Harry Kane
2- Women’s Ballon d’Or: Alexia Putellas
3- Best Young Talent of the Year: Lamine Yamal and Vicky López
4- Best Goalkeeper Trophy: Cata Coll and Unai Simón
5- Women’s Best Striker of the Year: Charlyn Corral
-6- Men’s Best Striker of the Year: Harry Kane
7- Best Men’s Coach: Luis de la Fuente
8- Best Women’s Coach: Pere Romeu
9+ Men’s Best Club: Paris Saint-Germain
10+ Women’s Club of the Year: FC Barcelona
11- Socrates Trophy: Bukayo Saka

Continue Reading

Trending