All eight executive directors at the Nigerian National Petroleum Corporation were fired on Wednesday, just a day after the company tapped former Exxon Mobil executive mmanuel Ibe Kachikwu as its new chief.
According to the Premium Times, Kachikwu will serve as the group managing director of the Nigerian National Petroleum Corporation (NNPC).
He is a graduate of the Nigerian Law School and is from Onicha-Ugbo in Delta State, the Premium Times added.
Kachikwu, who also served as general counsel at Exxon-Mobil Africa, will take over for Joseph Dawha, who was appointed by former Nigerian president Goodluck Jonathan.
According to the Punch, Dawha was relieved of his post on Tuesday by current Nigerian president Muhammadu Buhari.
Buhari dissolved the NNPC board in June amid theft allegations, the International Business Times noted.
According to Reuters, all eight executive directors were fired with immediate effect after the government issued a directive.
“All of the executive directors were let go … Buhari wanted a clean slate,” a dismissed manager told the news wire.
A 2011 Transparency International and the Revenue Watch Institute report found the NNPC had the worst disclosure records of the 44 international and national energy firms included in the study, Bloomberg said.
“He said he was going to clean up the oil industry. There’s no way he could proceed with the same board in place,” a spokesman for President Buhari told Bloomberg.
Nigeria’s oil sector accounts for about 70 percent of government revenues, Reuters added.