isiaka abdulrazaq GED nnpc
isiaka abdulrazaq GED nnpc
Isiaka Abdulrazaq CFO NNPC Gets Standing Ovation on
Retirement
For his exemplary leadership and promotion of transparency and
accountability as the Chief Finance Officer(CFO) of the Nigerian
National Petroleum Corporation(NNPC)the outgoing Group Managing
Director of NNPC, Dr Maikanti Kacalla Baru has commended Isiaka
Abdulrazaq and ordered a standing ovation in his honour.
At the valedictory ceremony held in honour of the Dr Maikanti
Baru attended by two sitting Governors of both Ekiti and Delta
states respectively, captains of industry, policy makers and
leaders of thought at the NNPC Towers in Abuja, the outgoing NNPC
GMD poured encomiums on Mr Abdulrazaq for playing a leading role in
the exit of the corporation from Joint Venture Cash-Calls, notably
with the recent settlement of ExxonMobil barely a week ago.
According to Dr Baru, the retiring NNPC Chief Finance Officer
made it a duty to pay staff salaries and allowances not later than
every 25th of the month, apart from pensioners whose interests were
always considered.
Baru said: “One of such of our members is Mr. Abdulrazaq whose
professionalism and commitment to excellence has made NNPC, the
national oil company, to be more transparent in its books. “NNPC
accounts and subsidiaries are now regularly published and can be
accessed by members of the public.”
He was also honoured for coordinating the effective
implementation of the Single Treasury Account policy of the Federal
Government in NNPC, thereby drastically reducing the number of NNPC
bank accounts
Abdulrazaq was also credited for transparency, professional
excellence and integrity in public life, ensuring the timely
preparation and Audit of Financial Statements in NNPC, adding that
the 2018 financial reports were ready.
Abdulrazaq drove several financing initiatives in the Oil &
Gas sector, including but not limited to: $1.2 billion NNPC/Exxon
Satellite Oilfield’s development, $680 million Bonny Gas Transport
Limited Shipping Financing, negotiation of Modified Carry
Arrangement Alternative Financing to the tune of $8 billion in
favour of Nigeria.
He championed the “Sustainable Join Venture Funding” mechanism
that will assure Join Venture production growth of Oil and Gas and
reduction in unit cost of production thereby securing higher take
for Government in the form of Royalties and Taxes through lower
cost of production among other numerous benefits to the nation.
Abdulrazaq is from Kwara State. He is a holder of B.Sc (Hons)
Mathematics, LLB (Hons) and MBA degrees. A Fellow of ICAN, he was a
one time the Group General Manager NNPC Capital before his current
position as Group Executive Director in charge of Finance and
Accounts, before the nomenclature was changed to Chief Finance
Officer.
He had previously worked with Power Holding Company of Nigeria,
Debt Management Office in the Presidency, Northern Nigeria
Development Corporation and Coopers and Lybrand, Chartered
Accountants. While in NNDC, he rose to the position of Financial
Controller. He was called to the Bar in 1995.
By PRNigeria