President Muhammadu Buhari on Friday announced the dissolution of the board of the Nigerian National Petroleum Corporation (NNPC).
According to a letter signed on Friday by Danladi Kifasi, head of the civil service of the federation, the dissolution is with immediate effect.
Buhari had been expressing dissatisfaction with the corporation in recent times. On Tuesday when he met with the 36 states governors, the president said he had it on good authority that “a lot of illegal activities were taking place in many government corporations, particularly the NNPC”.
The NNPC has been at the centre of allegations of massive frauds and misapplication of state resources by those entrusted with the responsibility of running them.
Prominent among the issues in which the corporation is at the centre are the alleged missing $20 billion which the former Central Bank of Nigeria Governor Sanusi Lamido Sanusi had blown the whistle about and the recent revelation of shadowy transactions in Nigeria crude oil swap deals by the Extractive Industry Transparency Initiative.
