Abuja, Nigeria – E be like say NNPC no go chop money for court again! On August 8, 2025, Court of Appeal for Abuja don reset matter wey dey concern Senator Ifeanyi Araraume and NNPC. Dem don overturn that one wey lower court talk say Araraume fit come back as non-executive Chairman and dem go pay am N5 billion for damages. Na serious wah!
How this one take happen? Well, the appellate court sabi say di earlier judgement wey Federal High Court give in April 2023 na serious error. Dem talk say Araraume claim don pass time wey law allow, meaning e don expire like fresh bread wey don sit down for market longer than wetin e suppose last. This one wey dem just do mean say NNPC no go pay any kobo for that N5 billion wey Araraume won collect, and as e be now, wetin dem don discuss since Araraume waka comot for 2021 still dey valid. No be small relief o!
The Federal High Court earlier confirm say President Muhammadu Buhari no fit remove Araraume as Chairman, and dem talk say make dem bring am back. But that judgement na wah, because it dey make people for oil and gas sector dey worry if any decision wey NNPC make since dem shift Araraume fit still stand. But! This latest decision wey Court of Appeal don drop wey be correct version of di story, don clear all dat wahala.
In statement wey dem drop on Wednesday, NNPC management talk say dis ruling no just save dem from big money wahala, but e also mean say governance dey stable for dem now. Dem say e don set standard for corporate governance for Naija law, and e go help ensure say all Board resolutions wey dey relevant to oil and gas sector investment go still dey intact.
Wetin NNPC talk na say: “Di Court of Appeal judgement dey secure governance stability for NNPC Ltd., set corporate governance precedent, and uphold di validity of Board resolutions wey dey critical to oil and gas sector policy.” Chai! Na wetin we sabi say when matter don go court, e fit turn serious if dem no balance am well.
This decision don stop wahala wey fit turn like movie for NNPC, and na only them sabi if dem go fit calm down after dis kind drama. Naija people, carry your popcorn, the oil and gas show no be small!
