NNPC Limited has achieved a significant legal victory after the Court of Appeal, Abuja Division, overturned a 2023 Federal High Court judgment that threatened to cost the company ₦5 billion in damages and cast doubt on its board’s authority.
On August 8, 2025, the Appeal Court upheld NNPC Ltd.’s appeal against the April 2023 ruling, which had annulled the removal of Senator Ifeanyi Araraume as the non-executive Chairman of the NNPC Board.
The earlier judgment not only ordered the payment but also put at risk the validity of all board decisions made since 2021.
The appellate court found that the Federal High Court erred in its ruling, highlighting that the claim was statute-barred and thus inadmissible.
This landmark decision removes a longstanding legal risk, ensuring that past and future board resolutions remain effective.
Below is full text of the press statement:
“On August 8, 2025, the Court of Appeal, Abuja Division, upheld NNPC Ltd.’s appeal against the Federal High Court’s April 2023 judgement that annulled Senator Ifeanyi Araraume’s removal as non-executive Chairman of the NNPC Board and awarded him ₦5 billion in damages.
“The Court of Appeal’s judgement spares NNPC Ltd a massive financial payout and removes a legal risk that could have invalidated all decisions of the Board since 2021.
“The Appeal Court agreed to NNPC Ltd.’s position that the Federal High Court’s earlier decision was delivered in error, noting amongst others, that the claim was statute-barred.
“This decision of the Court of Appeal secures governance stability for NNPC Ltd., sets a corporate governance precedent in Nigerian law, and upholds the validity of Board resolutions critical to the oil and gas industry’s investment and policy direction.
“Signed
NNPC Ltd.
Abuja
13th August, 20”
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