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Resourse: Petro Global News

All eight executive directors at the Nigerian National PetroleumCorporation were fired on Wednesday, just a day after the company tapped formerExxon Mobil executive mmanuel Ibe Kachikwu as its new chief.

According to the Premium Times, Kachikwu will serve as the groupmanaging director of the Nigerian National Petroleum Corporation (NNPC).

He is a graduate of the Nigerian Law School and is from Onicha-Ugbo inDelta 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 presidentGoodluck Jonathan.

According to the Punch, Dawha was relieved of his post on Tuesday bycurrent Nigerian president Muhammadu Buhari.

Buhari dissolved the NNPC board in June amid theft allegations, theInternational Business Times noted.

According to Reuters, all eight executive directors were fired withimmediate effect after the government issued a directive.

“All of the executive directors were let go … Buhariwanted a clean slate,” a dismissed manager told the news wire.

A 2011 TransparencyInternational and the Revenue Watch Institute report found the NNPC had theworst disclosure records of the 44 international and national energy firmsincluded 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 forPresident Buhari told Bloomberg.

Nigeria’s oil sector accounts for about 70 percent of governmentrevenues, Reuters added.

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