A Genius Move: Reno Omokri Reacts To Transfer Of Oil Sales Receipts From NNPCL To CBN

By Daniel Dafe

Former Presidential Aide, Reno Omokri has described President Bola Tinubu’s directive that revenue from crude oil sales be taken from NNPCL to CBN as a genius move.

Under the new arrangement, NNPC will submit receipts for crude oil sales to CBN for vetting and documentation.

Sources within the CBN confirmed the development, saying receipts of payment for the oil sales will be forwarded to the apex bank with immediate effect.

According to Omokri in a post on X, this move “will increase revenue and reduce corruption.”

Adding: “NNPCL cannot see money, and the CBN cannot see oil.”

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He continued: “The compartmentalisation will ensure that each agency will focus on its core areas of strength. NNPCL’s core is oil and gas. The CBN’s strength is monetary policies. Together, they will collaborate. Apart, they will compete.”

He quizzed: “Why did we not think about this before?”

“This is a far better approach to fighting corruption than Buhari’s style of shutting down the economy to run after corrupt officials,” he opined.

“Stop it at the source by separating the goat from the yam,” he concluded.

NNPCL over the years maintained sole control over crude oil sales, only rendering accounts to the Federal Government.