A Review of the Nigerian Energy Industry

NNPC/CBN oil revenue face-off: CBN warns against politicisation

Central_Bank_Governor__Mallam_Lamido_Sanusi__Punch_13 December 2013, Abuja – The Central Bank of Nigeria, CBN, yesterday, warned Nigerian politicians not to politicise the issue it raised accusing the Nigeria National Petroleum Corporation, NNPC, of not remitting the sum of $49.8billion, representing 76 per cent of the total crude oil revenues from January 2012 to July 2013.

The NNPC had, however, refuted the claim made by the CBN Governor, Mallam Sanusi Lamido Sanusi.

In a statement, Thursday, the Director, Corporate Communications, CBN, Mr. Ugochukwu Okoroafor, said: “The attention of the CBN has been drawn to an emerging public discourse around a letter purportedly written by the Governor to His Excellency, the President of the Federal Republc of Nigeria, Dr. Goodluck Ebele Jonathan, expressing concerns over non-remittance of oil revenues by the NNPC.

The CBN will neither confirm nor deny the existence of such a letter and considers any discussion by it on the alleged letter to be inappropriate.”

– Peter Egwuatu, Vanguard

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