A bill to whittle down the Central Bank of Nigeria (CBN)
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.
The lawmaker sought an amendment to the Central Bank of
Nigeria (CBN) Act No. 7 for the governor’s power to be divested of appointment
of anyone into the services of the apex bank.
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.
Senator Suleiman further argued that the board would be
responsible for the annual budget of the bankers’ bank, which he said is the
global standard.
“A bill for an Act to amend the Central Bank of Nigeria
(CBN) 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.
“And considering and approving the annual budget of the
Bank; and for other related matters, 2022.”
Reacting in her contribution to the proposed bill, Senator
Betty Apiafi from Rivers called for a holistic amendment of the CBN Act, saying
that the CBN governor went out of his way to contest for the presidency while
in office in the 2022 presidential primary election.
She maintained that this would not happen anywhere in the
world, given that the Independent National Electoral Commission (INEC)
materials were expected to be kept in the bank.
She said the CBN Governor, Godwin Emefiele, having attempted
to contest the presidency, has made Nigerians lose confidence in the bank
storing the INEC materials.
The submission of Senator Apiaf echoed Senator Enyinnaya
Abaribe from Abia, who spoke earlier.
Senate President, Dr. Ahmad Ibrahim Lawan, however,
cautioned Senators to focus on the proposed amendment rather than dabbling into
the alleged attempt by the CBN governor to contest as that wasn’t part of the
general principles of the bill.
The bill, after being put up to vote on whether to be withdrawn or passed into second reading, scaled through.
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