The Will/Oct 28, 2014

President Goodluck Jonathan Tuesday approved Mr. Bernard O.N. Otti, as the new Deputy Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), a new position created “In furtherance of ongoing efforts to transform the Nigerian National Petroleum Corporation (NNPC) into a commercially-driven entity”, a statement from the Presidency said.

Until his appointment, Otti was the NNPC’s Group Executive Director (Finance and Accounts).

The statement signed by Reuben Abati, the President’s spokesman, is reproduced below:

“In furtherance of ongoing efforts to transform the Nigerian National Petroleum Corporation (NNPC) into a commercially-driven entity, President Goodluck Ebele Jonathan has approved the creation of a new office of Deputy Group Managing Director of the corporation.

President Jonathan has also approved the appointment of Mr. Bernard O.N. Otti, the NNPC’s current Group Executive Director (Finance and Accounts) as the new Deputy Group Managing Director/Group Executive Director (Finance and Accounts) of the corporation.

Mr. Otti hails from Anambra State. He has held senior positions in some of the largest financial institutions in Nigeria and internationally, and has also served on the boards of numerous public and private institutions.

The new office of Deputy Group Managing Director is expected to strengthen the corporate governance structure of the NNPC and help ensure that value for money and return on investment increasingly become key factors in all operational decisions.