NNPC Limited has declared that Nigerian President Bola Tinubu is not involved in the controversial acquisition of OVH Energy Marketing Limited. Despite this clarification, key issues remain unaddressed, particularly regarding the dissolution of NNPC Retail and the subsequent management takeover by OVH Energy. The deal has caused significant controversy, including allegations from former Vice President Atiku Abubakar about misuse of office and lack of transparency. NNPC asserts the transaction was commercially driven and in the nation’s interest, but court rulings and investigative reports paint a complex picture of managerial control and asset ownership. The acquisition remains suspended amidst ongoing investigations by the House of Representatives.
Oil and Gas, Corporate Finance, Legal,Nigeria
https://mergersacquisitions.einnews.com/article/737728056/PuIxExAvhqAk5J_N?ref=rss&ecode=Q1vNcweEggLWKz7L