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Sanusi Laments Lack Of Accountability By NNPCL

Sanusi asks that the president step down as the minister of petroleum



Sanusi Laments Lack Of Accountability By NNPCL

Former Governor of the Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi, has raised an alarm over the lack of accountability by the NNPCL, News About Nigeria reports.

The ex-governor expressed his concerns over the affairs of the petroleum company while delivering his remarks at the Bank Directors Summit organised by the Bank Directors Association of Nigeria on Thursday in Abuja.

He questioned why the NNPCL was not raking in profits despite the subsidy removal by President Bola Tinubu, noting that there was a need for the exchange rate to be stabilised.

He further stated that the minister of finance was clueless as to how many barrels of petrol are produced and exported out of the country daily, attributing this to the fact that there was no system put in place to monitor the activities of the petroleum company.

He therefore advocated for close supervision over the NNPCL, adding that this would aid in the accountability of the petroleum company and help the minister of finance know how much oil the NNPCL produces daily, how much is sold, and where the money is going.

Sanusi, who maintained that the NNPCL is the most opaque company in the world, advised that President Bola Ahmed Tinubu step down as the minister of petroleum, noting that his position was a major factor affecting the accountability of the NNPCL to Nigerians.

According to him, people were not free to question the NNPCL because questioning the petroleum company meant that you were questioning the president, which he noted was not good for the country.