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Senate to amend CBN Act, bars 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

•Prohibits foreign currency for local transactionsTwo separate bills demanding greater transparency in the operations of the Central Bank of Nigeria, CBN, passed second reading in the Senate on Wednesday.

The second one titled: “A Bill to amend the Central Bank of Nigeria Act 2007, and for matters connected therewith, 2023”, which was sponsored by Senator Darlington Nwokocha, is seeking for amendments to enhance transparency in the operations of the apex bank. He also said his proposed amendment if passed will prohibit the use of foreign currency in local transactions in Nigeria.

The proposed amendment reads: “20 Prohibition of the use of foreign currency in democratic transactions:

 

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Senate to amend CBN Act, bar governor from partisan politicsA 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
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