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NEWSLETTEROIL & GAS

Buhari Puts The Inauguration of New NNPC board On Hold Indefinitely

President Buhari Reveals Why Treasury Single Account Was Opened

The Secretary to the Government of the Federation (SGF), Boss Mustapha, has stated that President Muhammadu Buhari has put on hold the inauguration of the newly constituted board of the Nigerian National Petroleum Company Limited (NNPC).

Mustapha made the disclosure via a statement released on Tuesday stating that a new date will be announced by the government soon

The inauguration was previously scheduled to hold on Wednesday, November 24.

“President Muhammadu Buhari has directed the immediate suspension of the inauguration of the newly constituted Board of the Nigerian National Petroleum Company Limited scheduled for Wednesday, November 24, 2021, until further notice,” the statement reads.

“A new date for the inauguration of the board will be announced in due course. “We deeply regret inconveniences caused to members by this suspension, please.”

Buhari had appointed the new board members of the NNPC in September, and fixed a two-year timeline for the incorporation of NNPC Limited.

Ifeanyi Ararume was appointed as the chairman of the board while Mele Kolo Kyari and Umar I. Ajiya will serve as chief executive officer and chief financial officer, respectively.

Other board members include; Tajudeen Umar (north-east), Lami O. Ahmed (north-central), Mohammed Lawal (north-west), Margaret Chuba Okadigbo (south-east), Constance Harry Marshal (south-south), and Pius Akinyelure (south-west).

About Author

Victor Okeh is a graduate of Economics from Lagos State University. He is versatile in reporting business and economy, politics and finance, and entrepreneurship articles. He can be reached via – [email protected]

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