A prominent northern advocacy group has publicly condemned the recent appointment of former Zamfara State governor, Senator Abdulaziz Yari, as the Chairman of the Board of Geregu Power Plc. The group, Mai Kare Talakawa, based in Sokoto, stated it will not participate in celebrations surrounding the high-profile corporate appointment, citing deep concerns over the source of Yari's wealth and potential conflicts of interest.
Wealth Accumulation and Questions of Morality
In a strongly-worded statement issued on Friday, January 16, 2026, and signed by its spokesperson, Mallam Yusuf Mohammed, the group directed pointed questions at the scale of Senator Yari's financial capacity. The statement highlighted that Zamfara State, which Yari governed for eight years, remains one of the poorest states in Nigeria.
The group argued that apart from his links to MA'AM Energy and mining ventures, Yari has no widely known business empire that could explain his ability to finance such a significant acquisition. "For just being a public officer from a poor state like Zamfara State, he was able to amass so much wealth for that kind of acquisition," the statement read.
Mai Kare Talakawa directly connected Yari's tenure to the current woes of Zamfara, stating he "left our youth with no jobs for 8 years as Governor, thereby exposing the citizens of Zamfara State to poverty and youth restlessness which is the insecurity in Zamfara State today." The group framed this wealth accumulation as conflicting with both moral and religious expectations for a public servant.
Conflict of Interest and Ongoing Security Concerns
The northern coalition raised a red flag on what it termed a clear conflict of interest, noting that Senator Yari remains a serving federal lawmaker with oversight responsibilities. The group described his reported acquisition of controlling shares in a major power generation company as excessive and detached from the pressing needs of ordinary citizens in his constituency.
"Senator Yari using over one trillion naira (N1tr) to buy Geregu Power shares has no direct benefit for the common people on the street of Zamfara," the statement asserted. It further warned that such moves could "further impoverish the people and aggravate insecurity, due to ongoing activities of illegal miners."
Mai Kare Talakawa also referenced ongoing investigations involving the senator by the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC), and the Department of State Services (DSS). The group expressed disappointment that instead of seeing asset recovery for the people of Zamfara, they are witnessing further high-value acquisitions.
Background of the Geregu Power Transaction
The controversy stems from a major corporate shake-up at Geregu Power Plc, located in Ajaokuta, Kogi State. The company announced Yari's appointment following the resignation of billionaire businessman Femi Otedola from the board chairmanship.
This change was precipitated by Otedola's sale of his majority stake in Geregu. Legit.ng had earlier reported that Otedola sold his stake to MA'AM Energy Ltd for a sum of N1.08 trillion. The transaction was financed by a consortium of banks led by Zenith Bank Plc.
It is crucial to note that the deal did not involve a direct sale of Otedola's shares in the generation company itself. Otedola had held a 95% stake in Amperion, which in turn controlled Geregu through a 77% shareholding. The transaction involved the sale of all of Otedola's shares in Amperion to MA'AM, meaning Otedola retains a minority stake in Geregu Power Plc.
In its concluding remarks, Mai Kare Talakawa urged Senator Yari and other northern elites to reflect on the escalating poverty and insecurity plaguing the region. The group echoed recent concerns voiced by Islamic scholar Sheikh Ahmad Abubakar Gumi regarding excessive spending by the political class while foundational social problems continue to deteriorate.
