Senate urges NESG not to mislead Nigerians on New Banking Act


Lawmakers didn’t receive palliative from NDDC – Senate spokesmanBy Ibrahim HassanWuyo

The Senate Committee on Banking, Insurance and other Financial Institutions has expressed concern over the campaign against the presidential assent to the recently passed Bank and other Financial Institutions Act (BOFIA) 2020 by the Nigerian Economic Summit Group (NESG).

Chairman  of the Committee, Senator Uba Sani in a statement on Wednesday, stated that the NESG, which ignored the call to participate in the public hearing, has possibly not carefully studied the contents of the Act before attempting to, allegedly mislead the public.

NESG had in a statement expressed concern about certain provisions of the ‘repealed and re-enacted’ Bank and Other Financial Institutions Act 2020, recently passed by both houses of the National Assembly, and in the process of being transmitted to President Muhammadu Buhari for assent, requesting Mr President to withhold his assent.

However, Uba Sani (APC, Kaduna Central) indicated that his  Committee received the…

Source: Vanguard Newspaper