LAGOS — Geregu Power has missed coupon and principal payments on its N40 billion bond issued in 2022, ThisDay has learnt. Company sources said the money was meant to buy the Geregu II power plant, a deal that never closed. The company's former chairman sold his majority stake in December 2025, and Abdulaziz Yari is now chairman. The new management has said it is reviewing the bond and will ensure an orderly resolution.