{"id":69593,"date":"2022-08-03T12:59:42","date_gmt":"2022-08-03T11:59:42","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop"},"modified":"2022-08-03T14:12:49","modified_gmt":"2022-08-03T13:12:49","slug":"group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop","title":{"rendered":"Group knocks NNPC over rise in Forex, revenue generation drop"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>A group, African Centre for Justice and Human Rights (ACJHR) has asked Nigerians and other stakeholders to hold the Nigerian National Petroleum Corporation (NNPC), and not the Central Bank of Nigeria (CBN), responsible for the rise in forex and subsequent drop in revenue generation in the country.<\/p>\n

In a statement by its Coordinator, Nduka Edede Chinomso, the ACJHR attributed the situation to NNPC\u2019s non-remittance to the CBN.<\/p>\n

The statement read: \u201cAs a group, we cannot, in good conscience, hold the CBN responsible for the rise in forex and drop in revenue generation.<\/p>\n

\u201cThe entire blame, we believe, should be heaped on the NNPC which has failed to make remittance into the CBN\u2019s coffers.<\/p>\n

\u201cFor an organisation that has been remitting $3. 4billion in a month to now start remitting an average of less than $300million monthly to the CBN is alarming.<\/p>\n

\u201cWe dare say that here lies the cause of the problems of forex and revenue generation.<\/p>\n

\u201cThe government and other critical stakeholders should hold no other person or group responsible, but the NNPC.<\/p>\n

\u201cDespite this great challenge, the CBN has been funding the nation\u2019s import obligations. The apex bank should be commended for this.\u201d<\/p>\n

Recall that in recent times, especially since the incorporation of the NNPC as a limited liability company, foreign exchange rate has risen astronomically, prompting the government to come under criticism from a cross section of Nigerians.<\/p>\n

For More News And Analysis About Nigeria<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. A group, African Centre for Justice and Human Rights (ACJHR) has asked Nigerians and other stakeholders to hold the Nigerian National Petroleum Corporation (NNPC), and not the Central Bank of Nigeria (CBN), responsible for the rise in forex and subsequent drop in revenue generation in the country. In a statement by its […]<\/p>\n","protected":false},"author":84,"featured_media":69592,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1570,2140,420,254,434],"class_list":["post-69593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-forex","tag-nigeria","tag-nnpc"],"yoast_head":"\nGroup knocks NNPC over rise in Forex, revenue generation drop - Nigeria<\/title>\n<meta name=\"description\" content=\"A group, African Centre for Justice and Human Rights (ACJHR) has asked Nigerians and other stakeholders to hold the Nige ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Group knocks NNPC over rise in Forex, revenue generation drop\" \/>\n<meta property=\"og:description\" content=\"A group, African Centre for Justice and Human Rights (ACJHR) has asked Nigerians and other stakeholders to hold the Nige ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-03T11:59:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-03T13:12:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/08\/postQueueImg_10-62ea7429527b7.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Group knocks NNPC over rise in Forex, revenue generation drop\",\"datePublished\":\"2022-08-03T11:59:42+00:00\",\"dateModified\":\"2022-08-03T13:12:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop\"},\"wordCount\":255,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2022\/08\/postQueueImg_10-62ea7429527b7.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"FOREX\",\"Nigeria\",\"NNPC\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/group-knocks-nnpc-over-rise-in-forex-revenue-generation-drop\",\"name\":\"Group knocks NNPC over rise in Forex, revenue generation drop - 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