Buhari orders new NNPC boss to recover stolen oil money

                                     

President Muhammadu Buhari appointed Dr. Emmanuel Ibe Kachikwu, the Executive Vice Chairman/General Counsel of ExxonMobil (Africa), as Group Managing Director (GMD) NNPC, asking him to give recovery of stolen oil money a priority, among other targets.

Buhari may also appoint Kachikwu, who beat three other candidates in the race for the job, as the Minister of State for Petroleum Resources to ensure synergy, a source said last night.

Those also considered and discreetly screened for the job, are former Petroleum Products Prices Regulatory Agency (PPPRA) Executive Secretary Stanley Reginald; Shell Petroleum Development Company Managing Director Mr. Osagie Okunbor and a NNPC Deputy General Manager, whose name was not disclosed.

At the final negotiation with Kachikwu, the President gave him six terms of reference to reshape the corporation. They are to: