L – R shows Mr. Julius Owotuga, Deputy Chief Executive Officer, Geregu Power Plc; Mr. Haruna Jalo-Waziri, Managing Director/CEO, Central Securities and Clearing System (CSCS) Plc; Mr. Faruk Umar, Director, Nigerian Exchange Limited (NGX); Mr. Jude Chiemeka, Divisional Head, Capital Markets, NGX; Mr. Akin Akinfemiwa, Chief Executive Officer, Geregu Power Plc; Erelu Angela Adebayo, Director, NGX; Dr. Olufemi Oyenuga, Chief Digital Officer, NGX; Mr. Temi Popoola, Chief Executive Officer, NGX; Mr. Femi Otedola, CON, Group Chairman, Geregu Power Plc; Mr. Umaru Kwairanga, Group Chairman, Nigerian Exchange Group plc; Mr. Anil Dua, Director, Geregu Power Plc; Mr. Doron Grupper, Geregu Power Plc; Mr. John Lee, Geregu Power Plc; Mr. Paul Gbededo, Geregu Power Plc; Ms. Olawunmi Otedola, Director, Geregu Power Plc and Mr. Chris Adeyemi, Director, Geregu Power Plc, during a Closing Gong ceremony commemorating its first Annual General Meeting as a listed company on NGX today in Lagos.
NGX commends Otedola, Geregu for corporate governance, power sector leadership
Nigerian Exchange Limited (NGX) has commended the Chairman of Geregu Power Plc, Mr Femi Otedola, and the firm’s Board for instituting best practices in corporate governance and playing a leading role in the country’s power sector.
This was at the Closing Gong Ceremony commemorating the first Annual General Meeting of Geregu as a listed company on the Exchange. Since its listing on NGX, Geregu has added more than N800bn in market capitalisation to NGX as the market continues to price up its shares amid strong revenue generation and dividend yields.
The Chief Executive Officer, NGX, Mr Temi Popoola highlighted the contributions and value that Geregu had brought to the capital market since its listing and also noted the quality of corporate governance exhibited by the firm. “Geregu was one of the first set of listed companies to file their annual reports on the Exchange. It has also contributed significantly to the volume of trades done on the market since its listing,” he said.
On his part, Mr Otedola appreciated NGX for the platform provided to listed companies for their capital raising activities, and also the transformation of the Exchange through its demutualisation period. “We promise to sustain our partnership for many years to come and reiterate our commitment to best practices of corporate governance,” he added. The CEO, Geregu, Mr Akin Akinfemiwa also restated the company’s dedication to positioning itself to be more valuable to shareholders and the business community at large.
The Group Chairman, Nigerian Exchange Group (NGX Group) Plc, Alhaji Dr Umar Kwairanga commended Mr Otedola for his longstanding contributions to the capital market. He also expressed optimism that the listing of Geregu as the first power-generating firm and its experience in the capital market would encourage other players in the sector to come and list on NGX.
Mr Abubakar Mahmoud, SAN, OON, Chairman, NGX, represented by Erelu Angela Adebayo, Director, NGX, on her part said, “It is our hope that NGX and Geregu Power would continue to work together, to sustain our partnership, and consolidate our shared values for improved outcomes that will be beneficial to the market and the Nigerian economy.”
