The Nigerian National Petroleum Company (NNPC) Limited have collaborated with the Central Bank of Nigeria (CBN) to set limits for the management of the oil firm’s revenue.

The limit was set following a meeting between the CBN Governor, Olayemi Cardoso and the NNPCL Group Chief Executive Officer, Mele Kyari, in Abuja.

This was disclosed in a statement that was jointly signed by the NNPCL Spokesperson, Olufemi Soneye, and his CBN counterpart, Hakama Sidi Ali.

It was gathered that Kyari and Cardoso decided to meet to review the decision to transfer revenue generated by NNPCL to the apex bank.

According to the statement, Kyari and Cardoso “reviewed the decision of the NNPCL to domicile a significant portion of its revenues and other banking services with the CBN.”

The two of them later spoke about the rationale behind the initiative. First was Mele Kyari.