The Nigerian National Petroleum Company Limited (NNPC Ltd) has claimed that 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.

In a statement on Wednesday, it stated that the Court of Appeal’s judgement spared NNPC Ltd a massive financial payout and removed a legal risk that could have invalidated all decisions of the Board since 2021.

According to the statement, 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,” it said.