Inyang Ekwo, presiding judge of the Abuja federal high court ruled in a N100 billion suit filed by Ararume in which he challenged his replacement on the NNPCL board by President Muhammadu Buhari in January 2022. Buhari appointed Ararume, a former senator, as the non-executive chairman of the NNPC Limited but later suspended the appointment replacing him with Margret Chuba Okadigbo.
“The administration respects the Rule of Law, and nothing will be done outside it to resolve the matter. President Buhari has taken due notice of judgment by the Federal High Court, Abuja, restoring Senator Ararume as the non-executive Chairman of the NNPCL.
He said the reinstated chairman of the board could decide to work on the probability that NNPCL has not been fully subjected to operate as a commercial entity which some stakeholders had suggested should be quoted on the stock exchange locally and internationally. Chukwu said the NNPCL is purely operating as a commercial entity under the new law and cannot be subjected to political interference.
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