The presidential candidate of the PDP in the last general election, Atiku Abubakar, has described the directive from the federal government to remit revenue from the sale of crude oil to the Central Bank of Nigeria as illegal.
Atiku, who made this statement on Thursday, said the plan violates the status legal status of the Nigerian National Petroleum Company Limited (NNPCL) as well as threatens the autonomy of the company.
According to him, State-owned enterprises are not subject to such arbitrary orders and have full control over their finances within the confines of their respective establishment laws.
He said,
Speaking further, Atiku noted that State-owned enterprises are not subject to such arbitrary orders and have full control over their finances within the confines of their respective establishment laws.
Earlier, it was widely reported that President Bola Tinubu had directed NNPCL to remit all the proceeds of crude oil sales to the Central Bank of Nigeria.
According to the report, NNPCL will submit receipts for crude oil sales to CBN for vetting and documentation
The report also noted that a decision was made to encourage transparency and accountability in the oil and gas sector.
Accordingly, the chief whip of the Senate, Senator Ali Ndume, lauded the decision, adding that it is constitutional.