I further wish to recall that your tenure at the NBET (in Nigeria) suffered from significant distraction occasioned by negative publications in the print and electronic media. However, I am pleased that the Nigerian Electricity Regulatory Commission had conducted a public hearing relating to the purported fraudulent monthly payments of over N2 Billion, which was allegedly being made to an investor company in generation assets. The Commission found no evidence that such payments were being made; and consequently, cleared you and your management team of any act of financial impropriety, with the outcome widely published in the Nigerian print media

I wish to commend you on your leadership of the Nigerian Bulk Electricity Trading Company (“NBET”) from 2016 to 2020. You took over the agency in the wake of one of the most ambitious power sector privatisations experienced by any country; and you also had to contend with multiple macroeconomic and political challenges. You faced these challenges with courage and integrity; and you acted throughout with a welcome clarity of thought and purpose. The rigour that you brought to the management of NBET’s commercial operations – and your commitment to contractual sanctity – injected consistency and stability into the industry at a time when these qualities were greatly needed

The entire power industry misses the professionalism you brough to bear on your work in providing the payment services and comfort that kept the industry going. You also displayed a remarkable integrity that should serve as benchmark for public sector leadership. As a Chief Executive of one of the pioneer Independent Power Producing companies in Nigeria, I could not help noticing your wealth of experience that you brought to bear on your assignment. I am sure this will impact your future work especially in emerging markets

I had the pleasure of interacting with you, in the execution of ‘take-or-pay’ power purchase agreements and sovereign guarantees for German companies keen on investing in power generation; and on the Siemens AG project under the Presidential Power Initiative (PPI). Your vivid grasp of the theoretical foundation of the subject area, combined with your experiential strength, made you a critical reference for many of the issues raised during my engagements with the investors. Despite the distractions that you faced, you laudably stood out in the Nigerian Power Sector as an unabashed, incorruptible, purposeful, and August 2023 2 radical reformer. Through your determination to [always] conduct yourself ethically in the public interest, you saved the country billions of dollars. It is evident that your documented analysis and recommendations to the electricity sector, will influence government policies for generations. The positions that you advocated for, [in] all the matters that you dealt with, many of which I was fortunate to review, confirms the courage, commitment, and transparency that you upheld. I am glad that you remained focused; and you completed the 4 years of your appointment. Nigerians will remain kind to you for your commendable service to your country. I pray that you will be available to serve if you are called upon in the future, to contribute to the development of policies that will further promote growth in the Nigerian power sector

Marilyn is refreshingly frank yet empathetic, smart and talented without affect or smugness. She breaks down complexity and detail with remarkable simplicity and humility. She is incredibly hardworking, a tough and principled negotiator, no true to the task and mandate she is given. She does not let your friendship get in the way of her job

‘I wish to commend you for your exceptional performance in public service, service to humanity and service to our beloved country. During your term as the Managing Director, Nigerian Bulk Electricity Trading Plc, I noted your dedication to duty, steadfastness, brilliance, innovation, and creative approach to problem solving. I recall several instances where you appeared before Committee that I chaired, you showed that you were methodical, in-charge, responsive, responsible and result oriented. Your performance was the same during investigative public hearing, where our findings showed that your leadership was prudent, transparent, and incorruptible. As you continue with your professional pursuit, I personally wish you the best and please continue to be exceptional because a golden fish can never be hidden

We sincerely appreciate your efficient, gracious service, the level of detail and accountability you have demonstrated on each opportunity our customer has presented, and the way you conduct business as a whole. Over the last two years, through the partnership with NBET, we have succeeded in boosting/maintaining output on brownfield power plants ensuring that technically available power and already installed capacity gets on the grid. The importance of NBET deferred payment guarantee has provided us with an instrument to better support our customers in Nigeria with flexible payment terms allowing us to do more. Jointly through the scheme we have put back on the grid and maintained over 400MW of capacity. Our team could not be more satisfied with your work, and we look forward August 2023 3 to continuing this partnership in supporting the generating companies in the Nigeria Power Sector

As an astute professional and effective leader, you led the markets growth towards self-sustainability by insisting on operating by the book, enforcing contracts (vested and otherwise) and upholding industry regulations. Your leadership was in summary: Bold, Principled and Knowledgeable. Your legacy of honesty and track record of excellence at NBET has left an indelible mark on the industry. Your professional opinions and expertise in dealing with the liquidity crisis in the sector, produced several outcomes which improved the industry immensely. These include: (1) the introduction of payment assurance guarantee; (2) advocacy for uniform system of accounts (USofA); (3) enforcement of clawbacks from excess payments from Discos to Gencos; (4) enforcement of PPA process escalations. We appreciate your sterling efforts and celebrate your accomplishments during your service with NBET and the Nigerian Electricity Supply Industry (NESI) at large

During my time as Chairman of the House Committee on Power, my committee had several engagements with your company, Nigerian Bulk Electricity Trading PLC, in the course of the discharge of our oversight duties. After each engagement, I and other members of the committee could not help but be impressed with your great grasp of the issues, thoroughness, impeccable organisation and the general excellence with which you approached your work. This made our work quite easy. You also introduced innovations and improved processes that significantly changed the fortunes of the company for the better. Truly, our nation teems with quality manpower and individuals who have distinguished themselves in different fields of endeavor. I commend you and enjoin you to continue on the path of excellence

‘I was particularly impressed by your preparedness on each of the occasions that the Committee interrogated you on the balance sheet of NBET, the legislated budget and its expenditure thereof; and the financial interventions of the Federal Government that were administered through NBET. The documents that you submitted, combined with the oral arguments that you made in very plain words, accelerated the knowledge of the members of the Committee on how electricity markets work, the situation in Nigeria and the causes of the huge debt profile at NBET. It seems to me that your pre-dispositions to what ought to be done to improve the industry, was based on your firm grounding in the area, including the experiences that you had gained from real markets before you arrived at NBET. Furthermore, your commitment to putting the country first, integrity and courage to always stand on the path of honesty, prevented you from accumulating more debt for the country, by refusing to execute additional agreements that were clearly against the public interest. Given the August 2023 4 important role of the electricity sector in the socio-economic development of the country, I look forward to seeing you continue to contribute to the development of interventions that would promote growth in the density of supply of grid-electricity. Marilyn, you did a great job!

I …, acknowledge with thanks the receipt of your letter dated 3 June 2019 (Ref: NBET/CEO/DCoS/2019/359) as well as the enclosed materials for use in the Vice President’s office. I … commend especially the establishment of a Corporate Academy by your agency and your personal leadership in improving learning and development at NBET

Broadens one’s perspective on the issues of revenue requirement / regulation. Inspires by depicting the whole picture of orderliness in the chain (electricity) through deregulation, regulation / finance