By Tochukwu Bliss, Abuja
The Group Chief Executive Officer, the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mele Kyari, and the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, yesterday, reviewed the of the NNPC’s decision to domicile a significant portion of its revenues and other banking services with the CBN.
A joint statement by the Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, and Ag. Director, Corporate Communications Department, CBN, Hakama Sidi-Ali, said this followed their meeting in Abuja on Thursday.
According to the statement, the NNPC and CBN chiefs noted the value created by the decision for all parties, especially in providing the Company with an improved platform for managing its cash holding obligor limits in commercial banks set by the Board of Directors.
The CBN has provided enhanced digital platforms for all transactions and has established specific limits to manage NNPC Ltd. transactions.
Both parties have also committed to further strengthening the collaboration to ensure seamless operations of the commercial NNPC Limited and noted that NNPC Ltd. continues to have banking transactions with commercial banks as required.
…they noted the value created by the decision for all parties, especially in providing the Company with an improved platform for managing its cash holding obligor limits in commercial banks set by the Board of Directors.
