Geregu Power appoints Mohammed Jaoji as acting CEO amid bond default concerns
Geregu Power Plc has appointed Engr. Mohammed Sani Jaoji as its Acting Chief Executive Officer, as the power generation company seeks to strengthen leadership amid growing concerns over its bond default. The post Geregu Power appoints Mohammed Jaoji as acting CEO amid bond default concerns appeared first on Nairametrics .
Geregu Power Plc has appointed Engr. Mohammed Sani Jaoji as its Acting Chief Executive Officer, seeking to bolster leadership amid bond default concerns. The appointment, disclosed on Monday, takes effect from August 17, 2026, pending approval from the Nigerian Electricity Regulatory Commission (NERC). This marks the second CEO change in seven months, following Sean Manley's tenure which concluded on August 14, 2026.
Jaoji boasts over three decades of experience in Nigeria's power sector, having held various technical and leadership positions. He holds a Bachelor of Engineering degree in Mechanical Engineering and is a registered member of COREN. Credit rating agency Agusto & Co downgraded Geregu Power and its bond following the default on the N40.09 billion Series 1 Senior Unsecured Bond, due to missed payments and weakened earnings.
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