JUST IN: Tinubu moves revenue from crude oil sales from NNPCL to CBN

Under the new arrangement, Nigeria National Petroleum Corporation Limited [NNPCL] will submit receipts for crude oil sales to Central Bank of Nigeria [CBN] for vetting and documentation.

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

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