OVH Acquisition: CAC dissolves NNPC retail, Nueoil

INVESTIGATION: Milk or Mimic: Nigeria’s dairy market, a hub for inferior EU productsHow police killed, injured protesters during #EndBadGovernance protests in Niger StateINVESTIGATION: The real reasons for Nigeria’s massive post-harvest losses amid food crisis EditorialINVESTIGATION: Milk or Mimic: Nigeria’s dairy market, a hub for inferior EU productsHow police killed, injured protesters during #EndBadGovernance protests in Niger StateINVESTIGATION: The real reasons for Nigeria’s massive...

However, in June, the three firms – NNPC Retail, OVH and Nueoil – jointly filed a petition at the Federal High Court in Lagos. In it, they asked the court to grant eight orders, including an order that NNPC Retail “be dissolved without being wound up” and that “the resultant company from the scheme shall be” OVH.

However, the NNPC, in its response to Atiku, said at the time it acquired OVH in 2022, Oando had fully divested its equity in OVH to the two other partners, Vitol and Helios. The national oil company said while the merger is still ongoing, NNPC decided to rename the new company as NNPC Retails Ltd. This newspaper also found out that the acquisition of OVH Energy had turned NNPC Retail into a toxic workspace, with officials of the former taking over the latter’s running.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

N'assembly to investigate alleged corruption in NNPC, acquisition of OVH EnergyThe national assembly has invited stakeholders to partake in a forensic investigation into the irregularities and alleged corruption in the Nigerian National Petroleum Company (NNPC) Retail Limited and the acquisition of OVH Energy Marketing Ltd.
Source: thecableng - 🏆 2. / 80 Read more »

Wale Tinubu doesn’t have interest in OVH acquisition, NNPC replies AtikuThe Nigerian National Petroleum Company (NNPC) Limited says neither President Bola Tinubu or Wale Tinubu, chief executive officer (CEO) of Oando, has any interest in the OVH Energy acquisitio
Source: thecableng - 🏆 2. / 80 Read more »

OVH Acquisition: NNPC says Tinubu not involved but fails to address key issuesIn its reaction to the NNPC-OVH controversy, the state-owned oil firm failed to address the crux of the controversial acquisition.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

NNPC’s acquisition of OVH: Oil, gas sector should not be politicisedA member of the House of Representatives representing Isiala Mbano/Onuimo/Okigwe Federal Constituency, Miriam Onuoha, has warned that the oil and gas sector of the economy is too critical to be politicized.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

OVH: NNPCL reacts to Atiku’s claim on subsidiary acquisition by Tinubu’s nephewThe Nigerian National Petroleum Company Limited (NNPCL) has dismissed claims by former Nigerian President, Atiku Abubakar, that the company allegedly sold its Retail Subsidiary to OVH, owned by President Bola Tinubu's nephew, Wale Tinubu. NNPCL's spokesperson, Olufemi Soneye, made this clarification on Thursday in response to Atiku's claim.
Source: DailyPostNGR - 🏆 11. / 59 Read more »