Nigeria, Feb. 9 -- The Nigerian National Petroleum Company (NNPC) Limited and the Central Bank of Nigeria (CBN) have reviewed the decision to domicile a significant portion of NNPC's revenues and banking services with the CBN.

According to a joint statement signed by the NNPC spokesperson, Olufemi Soneye, and the Acting Director of the Corporate Communications Department at the CBN, Hakama Ali, the decision will enhance transparency and accountability.

The CBN will provide NNPC with an improved platform for all transactions and establish specific limits to manage transactions effectively, the statement said.

Both the Group Chief Executive Officer of the NNPC, Mele Kyari, and the Governor of the Central Bank of Nigeria, Olayemi Cardoso,...