Bill to reduce CBN governor's powers scales second reading

A bill to whittle down the Central Bank of Nigeria (CBN) governor's powers sponsored by Senator Sadiq Suleiman Umar representing Kwara North Senatorial

A bill to whittle down the Central Bank of Nigeria governor’s powers sponsored by Senator Sadiq Suleiman Umar representing Kwara North Senatorial District has scaled second reading in the Senate on Tuesday in Abuja.

In the lead debate, the lawmaker proposed that the new Chairman of the Board of the Central Bank will have powers to determine the salaries and allowances of members, as the Governor focuses strictly on administrative duties in the running of the Apex Bank. “A bill for an Act to amend the Central Bank of Nigeria Act No. 7 of 2007 to enable the appointment of a person other than the Governor as the Chairmen of the board, divest the Board of the powers of determining and fixing salaries and allowances of its members.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

DailyPostNGR /  🏆 11. in NG

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ortom, Alia Trade Words Over Pensioners’ PlightBut in reaction, the special adviser to the governor on media and publicity, Terver Akase explained that 'despite the paucity of funds, Governor Samuel Ortom
Read more »

Pray for divine intervention on flood, economy - Gov. Buni begs religious leadersYobe State Governor, Mai Mala Buni has called on religious leaders to pray for continuous peace and sustainable development in the state. The Governor
Read more »

Experts project rates hike as CBN holds MPC meeting | The Guardian Nigeria News - Nigeria and World NewsAs the Central Bank of Nigeria (CBN) holds its Monetary Policy Committee (MPC) meeting on Monday, some stakeholders project a hike in policy rates.
Read more »

Electricity: Nigeria's 11 DisCos generated N210 billion in Q4 2021The power firms realised the amount out of N303.11 billion they projected for that quarter.
Read more »

2023: Rivers governorship candidate names running mate, unveils campaign committee'We were looking for somebody who can be governor if I am not there.'
Read more »