Bill to bar CBN governor from politics considered in House of Reps

House of Representatives members are considering a bill seeking to bar the governor of the Central Bank of Nigeria (CBN) from getting involved in partisan politics.

The bill which is sponsored by Sada Soli, a lawmaker from Katsina state, seeks to amend the Central Bank of Nigeria (CBN) Act 2007.

The section stipulates the conditions upon which the governor of the CBN and the deputy shall cease to hold office.

The bill proposes that the CBN governor will vacate his office if he/she “is a member of a political party or involved in partisan politics”.

Opening the debate for the bill, Soli said the proposed legislation is not targeted at an individual, but aims at curing the “shock the Act has suffered when it was tested”.

He said; 

“This amendment is no prejudice to anybody because the act was tested and it was found to be weak. 

“Therefore, we need to strengthen the CBN as the last lender of the resort of the Federal Republic of Nigeria to restore its credibility from the shock it suffered in the course of interpreting the law.

“These changes will enable any person who is interested in partisan politics to cease as the governor of the central bank and this will give more honour to the position of the CBN governor, and deputy governor.”

Leave a Reply