Politics

BREAKING: Tinubu wrested control of NNPCL finances, donated it to CBN, Finance Ministry – Atiku

The 2023 Peoples Democratic Party, PDP, presidential candidate, Atiku Abubakar, has accused President Bola Tinubu of forcefully taking control of the finances of the Nigeria National Petroleum Company Limited, NNPCL.

Atiku said Tinubu wrested NNPCL finances and donated it to the Federal Ministry of Finance and the Central Bank of Nigeria, CBN.

Posting on X, he insisted that Tinubu’s action has no ethical or legal basis because it violates the principles of due process.

PAY ATTENTION:  Eight new heads for information and national orientation are appointed by Tinubu.

According to Atiku: “By this order, Mr. President has wrested control of the finances of the NNPCL and donated the same to the Federal Ministry of Finance and the Central Bank of Nigeria.

“This is an unprecedented act, without any legal or ethical basis. It is also a violation of the principle of due process in public administration.

PAY ATTENTION:  BREAKING: Seek legal redress over Obaship tussle, Osun govt. tells ruling house

“State-owned enterprises are not subject to such arbitrary orders and have full control over their finances within the confines of their respective establishment laws.

“The NNPCL is a creation of the Petroleum Industry Act 2021 (PIA), which was signed into law by the President of the Federal Republic of Nigeria on 16 August 2021.

“The PIA makes extensive provisions for the formation, structure, governance, and operation of the NNPCL as an independent limited liability company in Sections 53 to 65 of the Act.

PAY ATTENTION:  ‘Why Tinubu May Still Have a Leg to Stand on if CSU Rescinds His Certificate’: INEC Comm'r Reveals

“The government must, therefore, respect the provisions of the law and allow the NNPCL to run as an independent company based on sound commercial objectives and in line with international best practices and standard principles of corporate governance.”

Related posts

BREAKING: Obi Campaign Council Raises Alarm Over Alleged Plot By INEC To Alter FCT Results

RecentGist

JUST IN: FG Fixes New Date For Payment Of N35,000 Wage Award To Workers

RecentGist

BREAKING: We impeached Oluomo because he was denying us money – Ogun lawmakers

RecentGist

JUST-IN: Poor People Are The Most Dangerous People In The World – Apostle Suleman

RecentGist

JUST IN: From the 8 points agreement reached between Fubara, Wike’s group in Aso Rock, check who wins

RecentGist

BREAKING: Yobe Lecturer threatens to deal with student who insulted him on Facebook

RecentGist

BREAKING: 2024: ‘I’m number three citizen’ – Akpabio vows to produce next Akwa Ibom Governor

RecentGist

BREAKING: Nasarawa Government Acknowledges Federal Palliatives for Fuel Subsidy Impact

RecentGist

BREAKING: The military coup in Niger draws attention to Africa’s leadership issues – Sam Adeyemi

RecentGist