CAC Deletes Ararume’s Name From Incorporation Document Of NNPC Ltd

Following the decision of President Muhammadu Buhari to replace Senator Ifeanyi Ararume as the board chairman of the Nigerian National Petroleum Company Limited, the Corporate Affairs Commission has deleted his name from the document incorporating the Company.

Buhari had on Wednesday appointed Senator Margret Chuba Okadigbo as the new chairman of the NNPC board.

In the newly announced appointments, the President retained the Group Managing Director of the NNPC, Mallam Mele Kolo Kyari, as the Chief Executive Officer of the NNPC Ltd.

Buhari who made the appointment in accordance with the power vested in him under Section 59(2) of the Petroleum Industry Act 2021, said Umar Ajiya was also retained as the Chief Financial Officer.

Other Board Members are; Dr Tajudeen Umar (North East), Mrs Lami O. Ahmed (North Central), Mallam Mohammed Lawal (North West), Engr. Henry Obih (South East), Barrister Constance Harry Marshal (South South), and Chief Pius Akinyelure(South West).

The Special Adviser to the President on Media and Publicity, Femi Adesina, who had disclosed this in a press statement, said the appointments take effect from the date of the incorporation of the NNPC Limited.

Recall that Buhari had appointed Okadigbo as the member representing South East when he first appointed the Board and Management of the NNPC Limited in September 2021.

The Corporate Affairs Commission had in September last year completed the Incorporation of Nigerian National Petroleum Company Limited in accordance with the provisions of the Petroleum Industry Act (PIA), 2021.

The PIA was signed into law by President Muhammadu Buhari on 16th August, 2021.

Specifically, Section 53(1) of the Petroleum Industry Act 2021, requires the Minister of Petroleum Resources to cause for the incorporation of the NNPC Limited within six months of the enactment of the PIA in consultation with the Minister of Finance on the nominal shares of the Company.

During the period of the incorporation of the NNPC, Senator Ararume’s name was among the directors that were listed in the incorporation document.

But THE WHISTLER can report that with Ararume’s replacement by Buhari, his name has been deleted by the CAC from the incorporation document.

Buhari had on November 24 with about 24 hours to the inauguration of the NNPC Board postponed the swearing in ceremony.

The President did not give reasons for the new development.