The Nigerian Nationwide Petroleum Firm Restricted (NNPC Ltd) and the Central Financial institution of Nigeria (CBN) have agreed to boost their banking relationship for smoother business operations, guaranteeing higher money administration and digital transaction platforms.
This settlement was introduced on Thursday in a press release collectively signed by NNPCL spokesperson, Olufemi Soneye and his CBN counterpart, Hakama Sidi Ali.
“The Group Chief Government Officer of the Nigerian Nationwide Petroleum Firm Restricted (NNPCL), Mallam Mele Kyari, and the Governor of the Central Financial institution of Nigeria (CBN), Mr. Olayemi Cardoso, have condemned the choice of the NNPCL to considerably a part of its revenues and different banking providers to the CBN,” the assertion stated.
“Following their assembly in Abuja on Thursday, February 8, 2024, the NNPCL and CBN chiefs famous the worth created by the choice for all events, particularly in offering the NNPCL with an improved platform for managing the holding limits of money at business banks. by the Board of Administrators.”
Based on the assertion, the CBN has offered enhanced digital platforms for all transactions and set particular limits for the administration of NNPCL transactions.
Each events additional introduced that also they are dedicated to additional strengthening cooperation to make sure seamless operation of the business NNPC restricted.
Additionally they famous that NNPCL continues to take care of banking transactions with business banks as required.
In the meantime, President Bola Ahmed Tinubu not too long ago issued a directive directing NNPC to submit receipts of crude oil gross sales to the apex financial institution for audit and documentation.
