Atiku Abubakar, the 2023 presidential candidate of the Peoples Democratic Party (PDP), has strongly criticized the decision of the Central Bank of Nigeria (CBN) to assume control over the sales of crude oil from the Nigeria National Petroleum Company (NNPCL). Atiku has labeled this move as illegal and expressed his dismay over the lack of public disclosure regarding the Nigerian Government’s latest action.

In a statement posted on X, Atiku expressed his concerns, stating, “Without prejudice to the possibility of any good that was intended in the decision of the Federal Government to make the @cenbank (CBN) take over the responsibility for crude oil sales proceeds from the @nnpclimited (NNPCL), it must be clearly stated that the action is not legal in its application.” He further emphasized the opacity surrounding this decision, criticizing the government for failing to communicate the details to the public.

According to Atiku, the President’s directive mandates the NNPCL to submit crude oil sales receipts to CBN for review and documentation. He asserted that regardless of the potential merits of this new arrangement, it violates the legal status of the NNPCL and poses a threat to its operational independence.

Atiku’s outspoken stance against the CBN’s takeover highlights the escalating concerns surrounding the Nigerian Government’s management of critical sectors such as the petroleum industry. This latest development raises questions about transparency, legal propriety, and the potential impact on the country’s oil sector operations. As Nigeria grapples with economic challenges and strives for global competitiveness, the need for clarity and adherence to legal frameworks becomes increasingly imperative.