OVH Acquisition: CAC dissolves NNPC retail, Nueoil

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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.

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