President Buhari Dissolves NNPC Board

President Muhammadu Buhari has ordered the immediate dissolution of the board of the Nigerian National Petroleum Corporation, NNPC.
Following the directives conveyed in a letter, dated June 26, 2015, signed by the Head of
Civil Service of the Federation, Danladi Kifasi.

The letter quoted President Buhari as thanking members of the dissolved board for the services they rendered to the nation.

The NNPC has in recent years been accused of large scale corruption, the latest being the alleged disappearance of $20 billion oil money.

An independent audit ordered by the Nigerian government in 2014 concluded that the corporation has an outstanding $1.48 billion to pay to the government.

this has probably led to the dissolution of the board.