The Nigerian National Petroleum Company Limited (NNPC Ltd) has secured a major legal victory as the Court of Appeal, Abuja Division, overturned a Federal High Court ruling that had annulled the removal of Senator Ifeanyi Araraume as non-executive chairman of its board.
The appellate court, in its August 8, 2025 judgement, also set aside the ₦5 billion damages awarded to Araraume by the lower court in April 2023.
The Court of Appeal ruled in favour of NNPC Ltd, holding that the Federal High Court’s earlier decision was made in error and that Araraume’s claim was statute-barred.
The verdict not only spares the company a substantial financial payout but also removes a legal uncertainty that could have invalidated all board decisions made since 2021.
According to NNPC Ltd, the judgement secures governance stability, establishes a corporate governance precedent in Nigerian law, and affirms the validity of board resolutions crucial to the oil and gas industry’s investment climate and policy direction.
