The Court of Appeal in the Abuja Division supported NNPC Ltd.’s appeal, overturning the Federal High Court’s April 2023 decision that had invalidated Senator Ifeanyi Araraume’s dismissal as the non-executive Chairman of the NNPC Board and awarded him ₦5 billion in compensation.
The judgement from the Court of Appeal relieves NNPC Ltd of a substantial financial obligation and eliminates a legal threat that might have nullified all Board decisions made since 2021.
The Appeal Court concurred with NNPC Ltd.’s stance, determining that the Federal High Court’s prior ruling was made in error. Among other observations, the court noted that the claim is subject to a statute of limitations.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
