Geregu Power Plc: Why Yari’s Board Appointment Does Not Excite Us -Northern Group

As reactions continue to trail the appointment of Senator Abdulaziz Yari as the new Chairman of the Board, Geregu Power Plc; a northern group has dropped a bombshell while lending its voice to the public debate.

The group, ‘Mai Kare Talakawa’ (MKT), majorly based in Sokoto, north western state, said it would never stand for the interest of the people, especially the downtrodden, instead of joining the bandwagon of praise singers of those who unite to enrich themselves.

In a statement signed on Monday by the Spokesperson, Mallam Yusuf Mohammed, the group queried the way and manner Senator Yari became rich.

According to the group, Senator Yari, aside being a Commissioner, two term Governor and currently, a Senator from Zamfara State, has no known strong business base, apart from the MA’AM Energy and the mining activities he has severally being linked to.

Aside the issue of conflict of interest in oversight functions as a serving Senator, Mohammed described the acquisition of controlling shares in Geregu as “outlandish”, adding that, “Senator Yari buying Geregu Power shares has no direct benefit for the common people on the street of Zamfara.

It would be recalled that, Geregu Power Plc, located in Ajaokuta, Kogi State, appointed Senator Yari as chairman of its board of directors, following the resignation of the business billionaire, Femi Otedola, penultimate Monday, as announced on the Nigerian Exchange (NGX).

The acquisition has since elicited public criticism, owing to the status of the new Chairman of board and controversies surrounding his tenure as Governor of Zamfara State and his constant dates with Nigeria security and law enforcement agencies.