The Court of Appeal, Abuja Division, has upheld the appeal filed by NNPC Ltd. against the April 2023 judgement of the Federal High Court, which had annulled the removal of Senator Ifeanyi Araraume as Non-Executive Chairman of the company’s Board and awarded him ₦5 billion in damages.
In its ruling on Friday, August 8, 2025, the appellate court set aside the lower court’s decision, sparing NNPC Ltd. from a massive financial payout and removing a legal risk that could have invalidated all Board decisions taken since 2021.
Read Also:
NNPCL Drills Four Oil Wells in Kolmani, Constructs Gas Plants in Kogi
The court agreed with NNPC Ltd.’s position that the earlier judgement was delivered in error, noting, among other points, that the claim was statute-barred.
Legal analysts say the ruling not only secures governance stability for NNPC Ltd. but also sets an important corporate governance precedent in Nigerian law. It further upholds the validity of Board resolutions seen as critical to investment confidence and policy direction in the nation’s oil and gas sector.
Signed
NNPC Ltd.
Abuja
13th August, 2025
