In a recent statement, former Vice President Atiku Abubakar criticized President Bola Tinubu's directive instructing the Central Bank of Nigeria (CBN) to take over the handling of crude oil sales proceeds from the Nigerian National Petroleum Company Limited (NNPCL).
Atiku deemed the directive illegal, arguing that it undermines the operational independence of the national oil company. President Tinubu's move, aimed at ensuring accountability and transparency, has sparked a legal and political debate. Atiku emphasized that such an arbitrary order violates the legal status of the NNPCL and urged the government to respect the provisions of the Petroleum Industry Act 2021, allowing the NNPCL to operate independently.
He warned that any attempt to undermine the company's operational independence could hinder investments and global relevance in the petroleum industry.
