Geregu Power Names Acting CEO Amid N40.09 Billion Bond Default
• Fails to renew term for erstwhile head appointed in January Emmanuel Addeh in Abuja Geregu Power Plc has appointed Mohammed Jaoji as its Acting Chief Executive Officer, effective August
Geregu Power Plc has named Mohammed Jaoji as its Acting Chief Executive Officer, effective August 17, 2026, amid financial difficulties following a default on its N40.09 billion Series 1 Senior Unsecured Bond. The appointment comes as the company navigates liquidity constraints in the power sector, with the ratings agency Agusto & Co withdrawing its "A" rating due to insufficient reliable information on the power producer's creditworthiness.
Jaoji, a seasoned professional with over three decades of experience in Nigeria's power sector, succeeds Sean Manley, who ended his tenure as Interim Chief Executive Officer on August 14, 2026. Manley, who brought 30 years of experience in the power sector, including expertise with Siemens in thermal power generation and major infrastructure projects, was appointed Interim Chief Executive Officer in January 2026.
The board expressed confidence in Jaoji's ability to strengthen the company's operations and strategic direction during the transition, while also thanking Manley for his contributions and wishing him success in his future endeavors.
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