Meanwhile, Atiku Abubakar described insinuations that he was a beneficiary of the contract restoration as untrue.
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The full penalty and interest shall be reinstated after the expiration of the one-off concession window which ends December 31.
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The central bank said the development was part of its effort in promoting financial system stability.
Deputy Senate President Barau emphasised the importance of the power sector, saying without power, other sectors would not perform optimally.
"This council has a pivotal role to play in rekindling hope in the Nigerian project."
“The situation in Nigeria regarding human rights is complex, despite the country's commitment to international treaties."
The crew members on board survived with minor injuries.