Reps amend CBN Act to stop Governor from partisan politics

The House of Representatives has passed a Bill after second reading to stop the Governor of the Central Bank of Nigeria (CBN) from participating in future elections in the country.

Rep. Sada Soli, the sponsor of the Bill at plenary in Abuja on Tuesday said that the bill would add more conditions to disqualification and appointment of Governor, Deputy Governor and Director of the CBN.

According to him, why I am doing this is because there was a time the CBN Governor went to court seeking for an interpretation whether he can participate in partisan politics.

“We need to address that. Today the credibility of CBN in custody of sensitive election material is being questioned.

“It is not against any individual but to save the integrity of CBN.”

He said that the bill would add more stringent conditions for the appointment or cessation of appointments of the CBN Governor, Deputy Governor as well as Directors of the Bank.

He said that the bill sought to amend the CBN Act 2007, adding that the amendment was no prejudice to anybody but because the Act was tested and it was found weak.

He added that the Act needed to be amended to strengthen the Apex Bank and restore its credibility from the shock it had suffered in the cause of interpreting the law.

The bill, however, scaled second reading after a voice vote put by the Deputy Speaker, Ahmed Wase, who presided over plenary.