Geregu Bond: Yari Vows to Protect Bondholders

…Says debt predates current ownership
 
Chairman of the Board of Directors of Geregu Power Plc, Senator Abdul’aziz Abubakar Yari, has announced his decision to personally provide the funds required to address the company’s immediate outstanding bond obligation, as part of measures to protect bondholders, preserve investor confidence, and safeguard the interests of the company and its shareholders.
In a statement personally signed by him, Senator Yari emphasised that the bond in question was issued and the underlying arrangements were made under the former owners and management of Geregu Power, before the current ownership and Board assumed responsibility for the company.
He disclo...