Nigeria: Senate Moves to Separate Chairman of CBN Board From Gov

22 February 2018

Abuja — Moves by the Senate to separate the Chairman of Central Bank of Nigeria, CBN, board from the governor of the apex bank, yesterday, got a boost as a Bill for an Act to amend the CBN Act CAP C4 LFN 2004 and for related matters, 2018 (SB. 448) scaled second reading.

According to the Senate, with the bill, the approval of the CBN budget by National Assembly will then be made compulsory, just as it will also ensure that salaries of CBN staff will be fixed by the Revenue Mobilization and Fiscal Commission, RMAFC.

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