Sh*ck Verdict! Appeal Court Sacks Araraume As NNPC Board Chairman

The Nigerian National Petroleum Company Limited (NNPCL) has scored a significant legal win after the Court of Appeal in Abuja overturned a Federal High Court ruling that reinstated Senator Ifeanyi Araraume as the company’s non-executive board chairman and awarded him ₦5 billion in damages.....KINDLY READ THE FULL STORY HERE▶

In its judgment on August 8, 2025, the appellate court sided with NNPC Ltd, ruling that the earlier decision was “delivered in error” and that Araraume’s case was statute-barred.

The verdict spares the state oil giant from a multi-billion-naira payout and brings an end to a governance battle that has dragged on for more than two years.

Back in April 2023, the Federal High Court had voided former President Muhammadu Buhari’s 2021 decision to remove Araraume, ordering his reinstatement along with ₦5 billion in general damages. That ruling had sparked concern across the oil and gas sector about the legality of board decisions taken since his removal—prompting the company to appeal.

The appellate court agreed with NNPC Ltd’s stance that the case was filed beyond the legally allowed timeframe, rendering it invalid.

In a statement on Wednesday, NNPC Ltd’s management said:

“On August 8, 2025, the Court of Appeal, Abuja Division, upheld NNPC Ltd’s appeal against the Federal High Court’s April 2023 judgment that annulled Senator Ifeanyi Araraume’s removal as non-executive Chairman of the NNPC Board and awarded him ₦5 billion in damages.

The judgment saves NNPC Ltd from a massive financial loss and eliminates a legal risk that could have nullified all Board decisions made since 2021.”

The company added that the decision “ensures governance stability, establishes an important corporate governance precedent in Nigerian law, and protects the validity of Board resolutions vital to investment confidence and policy direction in the oil and gas sector.”