Thelma Osatohanmwen
A social media commentator, Reno Omokri has hailed the decision of the federal government to transfer the receipt of oil sales from the Nigerian National Petroleum Corporation Limited (NNPCL) to the Central Bank of Nigeria (CBN).
Omokri lauded the strategic decision, which he described as a genius move to enhance revenue generation and curtail corruption within the oil industry.
He emphasized the unique strengths each entity brings to the table, noting that while the NNPC excels in the oil and gas sector, the CBN is adept at handling monetary policies.
The proposed compartmentalization ensures that each agency focuses on its core competencies, fostering collaboration rather than competition.
Omokri highlights the synergy that can be achieved when these agencies work in tandem. He contrasts this approach with past strategies, specifically citing President Buhari’s style of shutting down the economy to pursue corrupt officials.
Instead, Omokri advocated for addressing corruption at its source by separating functions within the government apparatus.
The essence of this move lies in recognizing that the NNPC may not have the expertise to efficiently handle financial transactions, just as the CBN may lack the specialization required to manage oil-related activities.