Geregu Power Plc has fully settled its outstanding bond obligations, with the company's chairman, Senator Abdul'aziz Abubakar Yari, assuring bondholders, shareholders and other stakeholders of the Board's commitment to meeting its financial obligations.

The settlement marks a significant step in the company's efforts to strengthen investor confidence, safeguard shareholder value and reinforce its commitment to sound corporate governance.

Speaking on Thursday, Yari, Marafan Sokoto, said the Board remained determined to ensure that all obligations to bondholders and trustees were honoured.

"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.

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The chairman assured stakeholders that the Board would continue to take necessary measures to protect the interests of bondholders and shareholders while maintaining the company's financial obligations.

Geregu Power also said it was working with relevant parties to resolve legacy administrative matters predating the current Board, stressing that the process would not affect its ability to meet its bond obligations.

Yari further reaffirmed the Board's support for the federal government's Renewed Hope Agenda, particularly its efforts to transform Nigeria's power sector.

He said Geregu Power would continue to contribute to the sector through reliable and efficient electricity generation, adding that the company remained committed to supporting Nigeria's economic growth and development.

The company said it would issue formal confirmation of the settlement upon completion of the payment process and continue to keep bondholders, trustees and other stakeholders informed of material developments.

Geregu Power said it remained focused on sustainable and efficient power generation while strengthening its relationship with investors and other stakeholders.