• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result

$20B Scam? President GEJ Sacks NNPC GMD and Four Other Top Executives

Nairametrics by Nairametrics
August 2, 2014
in Uncategorized
$20B Scam? President GEJ Sacks NNPC GMD and Four Other Top Executives
Share on FacebookShare on TwitterShare on Linkedin

 

NNPC Abuja

President Goodluck Jonathan has replaced the top four executives at Nigeria National Petroleum Corporation, his office said on Saturday, intervening in one of the country’s most powerful institutions and the source of 80 percent of government revenues.

RelatedStories

CBN issues directive to curb mass sacking by banks

How companies determine who to fire in an economic crunch

November 29, 2022
Dangote Cement

Dangote Cement commences buy back of 85 million issued shares of the company

December 21, 2020

Joseph Thlama Dawha replaces Andrew Yakubu as NNPC group managing director. Reuben Abati, a spokesman for Goodluck Jonathan’s office, declined to give further details.

A senior presidency source, who declined to be named, said it was because Jonathan was unimpressed with Yakubu’s handling of a parliamentary inquiry on oil corruption that was conducted in February.

Yakubu was not immediately available for comment.

Numerous reports and audits have accused NNPC of corruption and in February then central bank governor Lamido Sanusi submitted evidence to parliament that the company had failed to remit some $20 billion it owed.

The NNPC denied the charges, but the evidence it gave to explain away the missing money was derided by critics.

Jonathan has come under intense pressure to clean up Africa’s biggest energy sector after a public outcry over corruption and waste of the country’s vast energy wealth.

There was similar pressure at the time of the previous NNPC management change in June 2012.

Appointments to powerful positions in a Nigerian election cycle – presidential polls are six months away – are also often linked to shoring up patronage networks.

Dawha is a Christian from Biu, an area in the largely Muslim northeastern Borno state which is currently being ravaged by an Islamist Boko Haram insurgency that has heavily targeted Christians.

He previously held another executive role within the company.

Anthony Muoneke, a career lawyer, will take up management of the firm’s development arm, the NPDC. Aisha Mata Abdurrahman is the new group executive director of commercial and investment and Attahir Yusuf is the new group executive director of business development.

Oil industry sources say regardless of who runs NNPC, major decisions are made by Oil Minister Diezani Alison-Madueke.

In addition to suspected corruption, Nigeria’s oil sector suffers from oil theft in the creeks of the Niger Delta where tens of thousands of barrels are siphoned off each day.

Culled from Reuters

 

Tags: News ReviewNNPC Nigeria News
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

CBN issues directive to curb mass sacking by banks
Small Business

How companies determine who to fire in an economic crunch

November 29, 2022
Dangote Cement
Spotlight

Dangote Cement commences buy back of 85 million issued shares of the company

December 21, 2020
President Buhari to address Nigerians on Lekki toll plaza shootings after investigation , Youth Investment Fund:  Ministry of Finance and CBN to launch provision of funds- Minister, Federal Ministry of Youth and Sports launch DEEL initiative
Spotlight

FG launches application for N75 billion Youth Investment Fund at 5% interest, how to apply

October 16, 2020
Nigeria plans to support oil price with lower production cost per barrel, NNPC records 34% increase in trading surplus, NNPC begs security agencies to allow petrol tankers commute during lockdown, FG abolishes petrol subsidy regime as full deregulation sets in
Business News

FG abolishes fuel subsidy regime as full deregulation sets in

April 7, 2020
Coronavirus, Ex-PPMC Boss dies of COVID-19
Obituaries

Ex-PPMC Boss dies of COVID-19

March 23, 2020
shopping mall prices
Blurb

Why A Drop In Inflation Does Not Necessarily Mean A Drop In Prices Of Commodities

July 17, 2019
Next Post

Four GMDs Have Now Been Sacked Under Diezani in Four Years. See the names

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 
  • NNPC, Akwa Ibom, GACN sign $3.5 billion gas agreement

Follow us on social media:

Recent News

Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
Small Business

15 things you don’t need to start a business in Nigeria 

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics