James Emejo writes on the need to preserve the autonomy of the Central Bank of Nigeria in the interest of the nation’s economy
The National Assembly recently passed a bill seeking to amend the CBN Act, 2007 (as amended) to reduce some of the powers of the apex bank to take far-reaching decisions on its core mandate without recourse to the fiscal authority or other external stakeholders.
The parliament had also scheduled a public hearing of the bill as required by law to satisfy all procedures before final amendments and possible transmission to President Bola TInubu for his assent.
However, the controversies and pushback that have greeted this development have forced the lawmakers to suspend further works on the proposed amendment to the CBN Act.
Only recently, Special Adviser to the Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Prof. Uche Uwaleke, in a statement said the National Assembly had put the…
Source: Thisday Newspaper
