The Nigerian National Petroleum Company Limited (NNPC Ltd) has won a landmark legal victory in its dispute with Senator Ifeanyi Ararume.
In a statement on Wednesday, NNPC Ltd said that on 8 August 2025, the Court of Appeal, Abuja Division, upheld its appeal against the April 2023 judgment of the Federal High Court, which had annulled Ararume’s removal as Non-Executive Chairman of the NNPC Board and awarded him ₦5 billion in damages.
The appellate court’s ruling spares NNPC Ltd from a significant financial payout and removes a legal threat that could have invalidated all Board decisions since 2021.
The Court of Appeal agreed with the company’s argument that the Federal High Court’s judgment was delivered in error, noting, among other points, that the claim was statute-barred.
According to NNPC Ltd, the decision not only safeguards its governance stability but also sets an important corporate governance precedent in Nigerian law.
It said the ruling upholds the validity of Board resolutions that are critical to investment flows and policy direction in the nation’s oil and gas sector.
PIAK