By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: NNPC Limited responds to allegations of inappropriateness in appointment of CEO and CFO
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

NNPC Limited responds to allegations of inappropriateness in appointment of CEO and CFO

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: April 13, 2023
Share
3 Min Read
NNPC Ltd
NNPC Ltd
SHARE

NNPC Limited, Nigeria’s national energy company, has refuted allegations of inappropriateness in the disengagement of the Group Managing Director (GMD), Mallam Mele Kyari, and Group Executive Director (GED) F8A, Mr. Umar Ajiya, from the services of the old Corporation, as well as their subsequent appointment as Group CEO and CFO in the new NNPC Limited.

In a press statement issued by the Chief Corporate Communications Officer, Garba Deen Muhammad, the company noted that the disengagement was in line with the provisions of the Petroleum Industry Act (PIA) and appropriate government circulars.

The PIA, which was passed in 2021, has made clear and unambiguous provisions relating to governance, administration, and the appointment of a CEO, CFO, and Board of Directors by the President.

“Appointment of the CEO and CFO of NNPC Limited by the President of the Federal Republic of Nigeria is on the basis of distinct terms and conditions of Service including tenure, employment benefits and termination. The appointment of CEO and CFO’s not a career posting as erroneously presented by Sahara Reporters,” the statement read.

- Advertisement -

Furthermore, the company highlighted that the appointment of Mallam Mele Kyari and Mr. Umar Ajiya as NNPC Limited Group CEO and CFO respectively, for a tenure of five years each with effect from 16 September 2021, had ended their employment with the Corporation, and they were thus entitled to their terminal benefits in respect thereof.

Their previous ranks of GMD or GED F&A were not a consideration in the appointment of the CEO or CFO of NNPC Limited, in line with the provisions of the PIA.

“The new tenured roles they assumed with NNPC Limited cannot be regarded as continuance of their previous positions in the defunct Corporation,” the statement added.

The company also pointed out that the circular issued by the Head of the Civil Service of the Federation, dated 27 July 2009, had explicitly stated that appointments as Chief Executives of Government-Owned Companies are “tenured appointments,” and in respect of such tenured appointments, career officers who wish to take up such appointments shall retire from service, in order to run their tenure uninterrupted.

- Advertisement -

The company stated that it is committed to delivering greater value to Nigerians in strict compliance with extant laws and circulars, and that it will take necessary legal steps to seek redress against the misrepresentation of facts published by Sahara Reporters.

“The Group CEO and the CFO have demonstrated patriotism by ending their career appointments with the Corporation to serve the nation on five years tenured appointment in NNPC Limited,” the statement concluded.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:mele KyariNNPC Limitedumar ajayi
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Kogi Assembly Majority Leader Resigns In Protest Over Terrorist Tag
Next Article 5 Things to Do with the Tecno Spark 10 Phone

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities
News
Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Ange Postecoglou
Sport

Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory

Yusuf Abubakar
Yusuf Abubakar
June 6, 2025
News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?