By Elijah Olusegun
Geregu Power Plc’s failed to comply with its gender diversity policy as its board and management comprised respectively 83.3 percent and 100 percent male in 2025.
The leading gas powered generation company (GENCO) made this 2025 disclosure in the Nigeria Code of Corporate Governance 2018 report it filed March 30.
The 12-member board who retired last December were all male, except one director Olawunmi Otedola, whose father Femi Otedola chaired the board.
Even the management remains 100 percent all male.
The NCCG Code Principle 2 states: the effective discharge of the responsibilities of the Board and its committees is assured by an appropriate balance of skills and diversity (including experience and gender) without compromising competence, independence and integrity.
The GENCO compliance report, however, insisted, the board has a diversity policy.
“The board currently has a female director, and consequently subsequent appointment to the board will address the need to appoint a female director for ender balance,” the 2025 governance report stated
But the new board it constituted last December again all male, and their chairman is former Zamfara Gov. AbdulAzizi Yari.
The corporate governance code states no specific percentage of female a board should; it however indicate a gender balance as part of best practices.
