Allegations Against NNPCL CFO baseless

The Niger Delta Professionals Forum has rejected the allegations against the Chief Financial Officer (CFO) of the Nigerian National Petroleum Corporation Limited (NNPCL). Some groups had levelled allegations against Mr Adedapo Segun. But in a statement issued in Abuja, Omeiza Ogumah, spokesman of the forum, said the allegations were politically motivated. “Our attention has been […]

The Niger Delta Professionals Forum has rejected the allegations against the Chief Financial Officer (CFO) of the Nigerian National Petroleum Corporation Limited (NNPCL).

Some groups had levelled allegations against Mr Adedapo Segun.

But in a statement issued in Abuja, Omeiza Ogumah, spokesman of the forum, said the allegations were politically motivated.

“Our attention has been drawn to a recent press statement credited to a group identifying itself as “Arewa Youths” in which unfounded allegations were made against the Chief Financial Officer (CFO) of NNPC Limited, Mr. Adedapo Segun, calling for his sack and prosecution over purported mismanagement in refinery rehabilitation and the OVH Energy acquisition.”

“We find these allegations to be entirely without merit, grossly misleading, and clearly driven by ulterior motives rather than facts.

“First, it is important to state unequivocally that Mr. Segun has not been indicted by any investigative body — including the Economic and Financial Crimes Commission (EFCC) — in relation to refinery rehabilitation or the OVH Energy deal.

“The EFCC’s official list of individuals under investigation, as referenced by the so-called Arewa Youths, does not include his name because there is no credible evidence linking him to any wrongdoing. This omission is not an “oversight” as mischievously claimed, but rather a reflection of the absence of any basis to implicate him.

“Second, during his tenure as Executive Vice President, Downstream, Mr. Segun operated within the strict confines of due process, corporate governance, and transparency, consistently subjecting all transactions to board approvals, statutory audits, and regulatory compliance reviews. The insinuation that he “managed transactions that called for investigation” is speculative and reckless, amounting to a smear campaign intended to tarnish a distinguished career built on integrity.

“Third, regarding the OVH Energy acquisition, the process was a strategic business decision undertaken by the management of NNPCL and approved by relevant oversight bodies. The ongoing legislative review is a normal accountability mechanism and does not imply wrongdoing by any official, much less the current CFO.

“We therefore urge the public, media, and relevant authorities to treat these allegations with the disdain they deserve. The resort to character assassination by faceless interests threatens not only the reputation of hardworking public servants but also the stability of critical national institutions like the NNPC Limited.”