Ndume commends Tinubu’s directive for NNPCL to pay oil revenues into CBN

The Chief Whip of the Senate, Senator Ali Ndume has commended President Bola Ahmed Tinubu over his directive to the Nigerian National Petroleum Company Limited (NNPCL) to pay all crude oil proceeds into the Consolidated Revenue Fund domiciled in the Central Bank of Nigeria (CBN).

Ndume, gave the commendation while answering questions from reporters in Abuja on Tuesday.

He also urged the President to extend his directive to NNPCL on prompt remittance of oil revenue to CBN to all revenue generating agencies of the Federal Government.

Ndume insisted that revenue generating agencies must not be allowed to keep government funds in commercial banks without proper monitoring, accountability and transparency.

Ndume said: “The President has now ordered that all crude oil sales money should be paid into the CBN. That is a very welcome and positive thing that he has done and he should not stop there.

“All agencies of government that are revenue generating should pay their money into the consolidated revenue account and as they present their budget, whatever expenditure they are going to incur, let them bring it before the National Assembly. That’s what the Constitution says.

“So, what they now want is to make a political issue again out of it. This decision that Mr. President took is the right decision.

“It is constitutional and it should be supported by everybody. That way, it should also apply to other agencies of government that are driving revenue. They cannot keep it.

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“NIMASA should pay directly like NNPCL into the CRF. The Nigeria Ports Authority (NPA) should do the same. The Nigeria Customs Service and all other revenue generating agencies should pay revenues into the Consolidated Revenue Fund of the Federation and their accounts should remain with CBN because they can do banking.

“So, if they want to withdraw money, they should withdraw through the CBN. They were doing this before. Don’t go and keep people’s money in commercial banks and do transactions with it. That is it.

“I reiterate my call commending him for asking NNPCL to pay all oil revenue into the Consolidated Revenue account.”

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