New Telegraph

Atiku Knocks CBN Plan To Take Over Crude Oil Sales From NNPC

Atiku Abubakar, the People’s Democratic Party (PDP) presidential candidate in 2023, knocked the Central Bank of Nigeria’s (CBN) move to take over the Nigeria National Petroleum Company’s (NNPCL) crude oil sales.

The former Vice-President of Nigeria, however, described the ruling to be unlawful.

Speaking via his official X handle, Atiku bemoaned the fact that the Nigerian government had kept the public in the dark about its most recent decision.

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Atiku wrote: “Without prejudice to the possibility of any good that was intended in the decision of the Federal Government to make the @cenbank (CBN) take over the responsibility for crude oil sales proceeds from the @nnpclimited (NNPCL), it must be clearly stated that the action is not legal in its application.

“Although, as usual, of the current administration, little has been communicated to the public about explaining details of the decision.

“According to what is publicly available, the President has issued a directive that henceforth, the NNPCL would submit receipts for crude oil sales to CBN for vetting and documentation.

“Whatever may be the merit of the new arrangement, the presidential directive is a violation of the legal status of the NNPCL.

“It is an arbitrary order capable of undermining the operational independence of the NNPCL.”

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