Need to amend CBN Act


I want to draw the attention of the Senate president on the need to amend the Central Bank of Nigeria (CBN) Act. On August 8, 2023, a former Dean Faculty of Law, Olabisi Onabanjo University (OOU), Ago-Iwoye, Ogun State, Professor Olusesan Oliyide, at the 111th OOU inaugural lecture, advocated for a general and comprehensive review of the CBN law to whittle down the overwhelming powers of the CBN governor. Under the law, the CBN governor is both the chief executive officer of the bank and chairman of the board of directors with extra voting right, the operational consequences of which has ruined the economy of the nation.

Professor Oliyide knows a lot about the banking and finance law….

Source: Nigerian Tribune