Senate Chief Whip Commends Tinubu’s Directive on Oil Revenue, Calls for Executive Order on Unexplained Wealth

Commendation for Oil Revenue Directive

Senate Chief Whip Ali Ndume has praised President Bola Ahmed Tinubu for his recent directive to the Nigerian National Petroleum Corporation Limited (NNPCL) to channel all crude oil proceeds into the Consolidated Revenue Fund at the Central Bank of Nigeria (CBN). Speaking in Abuja, Ndume emphasized the significance of this move, asserting that it aligns with transparency and accountability principles. He further urged the extension of this directive to include other revenue-generating agencies such as NIMASA, NPA, and Customs Service.

Ndume highlighted the necessity for strict adherence to constitutional provisions, emphasizing that government agencies should not maintain funds in commercial banks without proper monitoring. This commendation comes as a recognition of the President’s commitment to financial prudence and governance reforms.

Call for Executive Order on Unexplained Wealth

In addition to commending the oil revenue directive, Senate Chief Whip Ali Ndume called on President Tinubu to sign an Executive Order on Unexplained Wealth. This proposed order aims to empower anti-corruption and security agencies to pursue individuals with questionable riches. Ndume underscored the importance of taking decisive action against illicit wealth, asserting that such measures contribute to the overall anti-corruption efforts in the country.

Ndume’s call for an Executive Order aligns with ongoing efforts to strengthen the legal framework surrounding financial accountability and anti-corruption initiatives. If implemented, this order could provide the necessary legal tools for authorities to investigate and address unexplained wealth, contributing to a more robust anti-corruption landscape.

Extension of Directive to all Revenue Agencies

Continuing his advocacy for financial transparency, Senate Chief Whip Ali Ndume urged the President to extend the directive on prompt remittance of oil revenue to the CBN to all revenue-generating agencies of the Federal Government. Stressing the constitutional requirement for agencies to present their budgets before the National Assembly, Ndume argued that this move would enhance oversight, ensuring that government funds are utilized efficiently and in accordance with approved budgets.

Ndume’s call for a comprehensive approach to revenue management echoes the broader sentiment for increased financial discipline within government agencies. If implemented, this extension of the directive could mark a significant step towards ensuring uniform adherence to financial regulations across various sectors of the government.

President Tinubu Directs Oil Revenue to Consolidated Revenue Fund: Chief Whip Ndume Calls for Broader Application

President Tinubu has issued a directive to the Nigerian National Petroleum Corporation Limited (NNPCL) to channel all crude oil proceeds into the Consolidated Revenue Fund (CRF) at the Central Bank of Nigeria (CBN). The directive, as voiced by Ali Ndume, the chief whip of the House of Senate, is a constitutional measure that transcends political affiliations. Ndume emphasizes that such a directive should extend beyond the NNPCL to other government agencies driving revenue, ensuring that they deposit their earnings directly into the CRF.

Ndume underscores the importance of maintaining transparency and preventing the misuse of funds by discouraging agencies from keeping money in commercial banks. He advocates for agencies like the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Ports Authority (NPA), and Nigeria Customs Service to adopt similar practices, ultimately fostering a more accountable and efficient financial system.