Senate to amend CBN Act, bar governor from partisan politics

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A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc

Two separate bills demanding greater transparency in the operations of the Central Bank of Nigeria, CBN, passed second reading in the Senate on Wednesday.

Explaining the motivation for his bill, Karimi said the piece of legislation would, if passed, lead to greater accountability and transparency in the operations of the apex bank. The proposed amendment reads: “20 Prohibition of the use of foreign currency in democratic transactions: “The thrust of this amendment is to create a people-centered Central Bank by delivering price and financial system stability and promoting sustainable economic development.

 

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