{"id":143646,"date":"2024-08-22T15:27:11","date_gmt":"2024-08-22T14:27:11","guid":{"rendered":"https:\/\/newsdigest.ng\/?p=143646"},"modified":"2024-08-22T15:27:11","modified_gmt":"2024-08-22T14:27:11","slug":"nnpcl-transfers-assets-ovh","status":"publish","type":"post","link":"https:\/\/thepublicpulse.ng\/?p=143646","title":{"rendered":"NNPCL to Transfers its Assets to OVH Energy Marketing"},"content":{"rendered":"<p>In a move shrouded in controversy, the Nigerian National Petroleum Company Limited (NNPCL) has transferred its retained assets to OVH Energy Marketing Limited, a company linked to President Bola Tinubu&#8217;s nephew, Wale Tinubu.<\/p>\n<p>&nbsp;<\/p>\n<p>The transfer was approved by Justice C.J. Aneke of the Federal High Court in Lagos, despite concerns raised by NNPC Retail employees and discrepancies uncovered in OVH Energy&#8217;s claims.<\/p>\n<p>&nbsp;<\/p>\n<p>The merger, which became effective in January 2024, has sparked criticism over its handling and potential conflicts of interest.<\/p>\n<p>&nbsp;<\/p>\n<p>An NNPC Retail employee described the transaction as &#8220;criminal,&#8221; while an investigation by Premium Times revealed inconsistencies in OVH Energy&#8217;s reported number of filling stations.<\/p>\n<p>&nbsp;<\/p>\n<p>Justice Aneke granted eight orders, including the dissolution of NNPC Retail and Nueoil without winding them up, paving the way for the transfer of assets to OVH Energy Marketing.<\/p>\n<p>&nbsp;<\/p>\n<p>The move allows NNPCL to capitalize on OVH&#8217;s existing success and expand its retail ownership and assets. Merger talks with OVH Energy\u2019s former CEO Huub Stokman being uncovered as NNPC Retail\u2019s new Managing Director, making the deal more complicated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a move shrouded in controversy, the Nigerian National Petroleum Company Limited (NNPCL) has transferred its retained assets to OVH Energy Marketing Limited, a company linked to President Bola Tinubu&#8217;s nephew, Wale Tinubu. &nbsp; The transfer was approved by Justice C.J. Aneke of the Federal High Court in Lagos, despite concerns raised by NNPC Retail [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":121596,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[436,508],"class_list":{"0":"post-143646","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-nnpcl","9":"tag-ovh-energy-marketing-limited"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NNPCL to Transfers its Assets to OVH Energy Marketing - The Public Pulse<\/title>\n<meta name=\"description\" content=\"In a move shrouded in controversy, the Nigerian National Petroleum Company Limited (NNPCL) has transferred its retained assets to OVH Energy\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thepublicpulse.ng\/?p=143646\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNPCL to Transfers its Assets to OVH Energy Marketing - 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