Home / Business / NNPC, CBN to Strengthen Relationship to Guarantee Seamless Commercial Operation  

NNPC, CBN to Strengthen Relationship to Guarantee Seamless Commercial Operation  

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mallam Mele Kyari, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, have reviewed the decision of the NNPC Ltd. to domicile a significant portion of its revenues and other banking services with the CBN.

Following their meeting in Abuja on Thursday, February 8, 2024, the NNPC Ltd. and CBN Chiefs noted the value created by the decision for all parties, especially in providing the NNPC Ltd. 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.

 

About Gladys Johnson

Gladys Johnson The Publisher/Editor-In-Chief Global Business Drive Phone: +13465619347 Email: info@globalbusinessdrive.com gladysjohnsonmedia@gmail.com gladys@globalbusinessdrive.com globalbusinessdrive@gmail.com

Check Also

Overseas Shipholding Group Awarded Federal Grant to Design Marine Transport For Liquified CO2 Captured by Florida’s Largest Emitters

Overseas Shipholding Group Awarded Federal Grant to Design Marine Transport For Liquified CO2 Captured by Florida’s …

Leave a Reply

Your email address will not be published. Required fields are marked *

pub-5127930111112337, DIRECT, f08c47fec0942fa0