May 21, 2024
Court Restores Ararume As NNPCL Chair, Awards N5bn
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Court Restores Ararume As NNPCL Chair, Awards N5bn

A Federal High Court in Abuja has ordered the reinstatement of Ifeanyi Ararume as the executive chairman of the Nigeria National Petroleum Company (NNPC) Company Ltd.

Justice Inyang Ekwo, the presiding judge today held that the action of President Muhammadu Buhari in removal of Ararume was arbitrary, unlawful and illegal.

Justice Ekwo ordered the immediate reinstatement of Ararume to the position and the payment of the sum of N5 billion in damages to him.

The court further declared all actions taken by the board as null and void.

Ararume had through his lawyer, Chris Uche (SAN) argued that his removal as executive chairman of NNPCL was a violation of the Companies and Allied Matters Act (CAMA) after incorporating the oil company in his name.

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