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FG’s Directive To The CBN To Takeover The Crude Oil Sales Proceeds From The NNPCL Isn’t Legal – According to Atiku

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Alhaji Waziri Atiku Abubakar, a former vice president of Nigeria, declared that it was illegal for the federal government to order the Central Bank of Nigeria (CBN) to seize the revenues from the sale of crude oil from the NNPCL.

The Special Assistant to Atiku Abubakar, Abdul Rasheeth, made this claim in a message that was published on his official X handle on the media.

According to Atiku Abubakar, the directive is capricious and has the potential to compromise the NNPCL’s operational autonomy.

The statement reads;

“FG’s directive to CBN to take over crude oil sales proceeds from NNPCL is not legal, undermines the operational independence of the national oil company. Without prejudice to the possibility of any good that was intended in the decision of the Federal Government to make the Central Bank of Nigeria (CBN) take over the responsibility for crude oil sales proceeds from the Nigerian National Petroleum Company Limited (NNPCL), it must be clearly stated that the action is not legal in its application”. CONTINUE FULL READING>>>>>

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