Billionaire investor Femi Otedola publicly dispelled reports of a rift between himself and Senator Abdulaziz Yari, posting a photo alongside the former Zamfara State governor at his residence in Monaco on August 23, 2026.
The high-profile meeting follows media speculation—led by reports in local press including THISDAY—concerning friction between the two figures after a ₦40.09 billion bond default involving Geregu Power Plc. Yari’s firm, MA’AM Energy Limited, acquired controlling interest in Geregu Power from Otedola in a $750 million transaction in December 2025.
The public display of unity coincides with Senator Yari’s reported appointment as Director-General of the Presidential Campaign Council.
Background on the Geregu Bond Default & Settlement
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FMDQ Default Flag: Earlier in August 2026, the FMDQ Securities Exchange updated the listing status of Geregu Power’s Series 1 ₦40.09 billion bond to reflect a credit default on its scheduled 8th coupon payment and 4th principal repayment tranche.
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Yari’s Intervention: Senator Yari stepped in personally to clear the outstanding debt service shortfall, submitting funds directly to bond trustees to cure the default while clarifying that he expects reimbursement under terms associated with the initial corporate handover.
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Rebuttal of Press Narrative: Media reports had suggested that the debt dispute caused severe personal and commercial friction between Otedola and Yari. Otedola’s social media post directly addressed those claims, confirming a warm personal relationship and signaling ongoing alignment across business and political interests.
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