The Nigerian National Petroleum Corporation Limited’s(NNPCL) board chairmanship dispute erupted on Wednesday, and the country’s president, Major General Muhammadu Buhari (ret. ), pleaded for calm from all parties, stressing that the proper judicial procedure will take its course.
This occurs just 24 hours after Senator Ifeanyi Ararume was reinstated as the non-executive Chairman of the NNPCL by the Federal High Court of Abuja.
The court overturned the President’s decision to remove him, which took place on January 17, 2023, and awarded Buhari N5 billion in damages.
Ararume had filed a lawsuit against Buhari, asking the court to declare his dismissal as the head of the NNPCL is illegal, unlawful, and unconstitutional and that it was a complete violation of the CAMA statute, which was the basis for the NNPCL’s incorporation.
In addition, he requested that the court issue an order restoring him to his position and demanded N100 billion in restitution for the losses he sustained on a national and international scale.
According to a statement released on Wednesday by his spokesman, Femi Adesina, the President responded to the situation by declaring that “the administration respects the Rule of Law” and that “nothing would be done outside of it to address the matter.”