The Nigerian National Petroleum Company (NNPC) Limited has dismissed allegations of President Bola Tinubu’s involvement in the acquisition of OVH, a firm that recently took control of NNPC Retail Limited. These allegations were raised by former Vice President Atiku Abubakar, who suggested that corporate interests around President Tinubu influenced the deal. NNPC clarified that neither the President nor his relative, Mr. Wale Tinubu, have any interests in OVH. Oando Plc, where Wale Tinubu holds equity, divested from OVH as early as 2016, with Vitol and Helios becoming the main equity holders. NNPC emphasized that the acquisition and subsequent merger of NNPC Retail and OVH was a purely commercial decision based on national and business interests.
Oil & Gas, Investment & Mergers,Nigeria
https://mergersacquisitions.einnews.com/article/737692578/xG9c7w_1tb1uxi-U?ref=rss&ecode=Q1vNcweEggLWKz7L