NEWS
NNPCL Approves USD Revenue Transfer To CBN
In a significant development, the board of directors of the Nigerian National Petroleum Company Limited (NNPC Ltd) has approved the transfer of revenue in US dollars to the Central Bank of Nigeria (CBN).
Mele Kyari, the Group Chief Executive Officer, made the announcement on Thursday, highlighting that the CBN has established a dedicated department specifically for handling transactions related to the sale of crude oil by the NNPC Ltd.
Kyari disclosed that the decision to transfer a substantial portion of the state oil company’s earnings to the CBN received the green light from the company’s Board.
He said, “We welcome the governor of the CBN and his senior management team to NNPC Ltd. We understand very clearly that this review of our decision to move significant portions of our revenues to the CBN is very timely.
“We made that decision in line with the directives of our Board of Directors to maintain safe obligor limits with commercial banks. And for us to do this, we do need additional support, particularly from the CBN to achieve this.
“We are a very huge company, our transaction and liquidity levels are very high, and perhaps we are the largest business in this country. We are also happy that the CBN has created a robust digital platform for our transactions.”
“It has created a department that will deal with NNPC issues and will create no hindrance to our operations. We will continue to collaborate with the CBN to ensure that further improvements are received so that this relationship serves the best interest of our company and, of course, our country.”
On his part, Cardoso noted that the CBN has implemented internal procedural adjustments to ensure its readiness for the substantial task entrusted to the bank by the national oil company.
He said “We are looking forward to further collaboration with NNPC and I have absolutely no doubt in my mind that this effective collaboration will work in the best interest of NNPC and Nigeria in general.”
“We have come to this particular stage where the NNPC has made the decision to move a respectable part of its business to the CBN.
“I also want to say that we have restructured and strengthened our internal processes such that we will be very capable of taking on this enormous responsibility that will be placed in the central bank.” he added
The Executive Governor of Osun State, Asiwaju Ademola Adeleke has felicitated with President Bola Ahmed Tinubu on the occasion of his 73rd birthday anniversary.
According to Gov Adeleke, the number one citizen of Nigeria is “a resourceful democrat with tested decades of democratic activism”
In a birthday message he personally signed, Gov Adeleke recounted the huge contributions of Mr President to the economic and democratic development of the nation, citing his transformational days as the Lagos State governor and his ongoing bold reforms at the national level.
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The governor who lauded the president’s capacity to make bold decisions noted that this birthday is “an occasion to reflect on the goodness of Almighty God in the life of the first family and especially that of the Number One Citizen.
“Your life typifies divine grace and exceptional blessings from the beginning to date. You are a chosen one with all attributes of a blessed leader.
“Mr President, I pray that the divine hand that has been your guide and nurturer will continue to strengthen you as you govern this strategically important country of Africa.
“I use this opportunity to restate the continued commitment of the Osun state government under my leadership to closer mutual partnership between the Federal and the Osun state government. Mr President can count on us in the common task of delivering good governance and democratic dividends to our people.
“Our dear Asiwaju and Commander in Chief of this federation, as you celebrate your 73rd birthday, I pray to God to grant you more blessings and grace to continue to succeed in your presidential mandate and to live for more years in good health and prosperity.
“Happy blessed birthday, Mr President,” Gov Adeleke wrote.
The Kano State Police Command has refuted reports circulating on social media about an alleged attack on an 18-seater passenger bus in the state, calling the claims false and misleading.
In a statement issued on Saturday, the Command’s spokesperson, SP Abdullahi Kiyawa, dismissed the reports and urged the public to disregard them.
“The report is completely false and misleading. There was no such attack, and the public should not be misled by unverified information circulating online,” Kiyawa stated.
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He reassured residents of the police command’s commitment to maintaining law and order, ensuring public safety, and fostering peaceful coexistence among diverse communities.
To address the spread of misinformation, the police have launched an investigation to identify the source of the false report. Authorities warned that those responsible would face consequences.
“The command urges the public to refrain from spreading unverified information that can incite fear, panic, and unrest in society,” Kiyawa added.
The police also advised citizens to rely on credible sources for information and avoid sharing unverified claims that could cause unnecessary alarm.
Saudi Arabia has announced the sighting of the Shawwal crescent moon, confirming that Eid al-Fitr will be observed on Sunday, March 30, 2025.
The announcement was made on Saturday via Haramain’s official Facebook page, stating, “The crescent moon for the month of Shawwal 1446 was sighted in Saudi Arabia. Therefore, Eid Al Fitr will be celebrated on Sunday, March 30, 2025.”
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Eid al-Fitr marks the end of Ramadan, the Islamic holy month of fasting and prayer, and is celebrated with communal prayers, festive meals, and acts of charity.
With Saudi Arabia’s confirmation, many countries that align their Islamic calendar with the kingdom are expected to follow suit, while others may conduct their own moon sightings to determine the date of the festival.
Muslims worldwide are preparing for the celebrations, which include special prayers, family gatherings, and the giving of alms, as part of Islamic tradition.
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