Nigerian Senate Moves To Amend Central Bank Act, Reduce CBN Governor's Power After Emefiele's Recent Involvement In Partisan Politics
The Nigerian Senate has passed a bill to reduce the power of the governor of the Central Bank of Nigeria, CBN. The bill has scaled first reading and moved to the second reading stage. The bill was sponsored by Senator Sadiq Suleiman Umar, who represents Kwara North Senatorial District. The lawmaker requested an amendment to the Central Bank of Nigeria (CBN) Act No. 7 to enable the appointment of a person other than the Governor (of CBN) as the chairman of the Board, among other things.
Source: saharareporters.com