Act Seeking To Restrict CBN Gov & Deputy Govs To Single Tenures Scales 2nd Reading In Senate

The Senate on Tuesday passed for second reading a bill seeking to amend the Central Bank of Nigeria (CBN) Act to provide for single non-renewal term of six years for the governor and the deputy governors of the apex bank.

The bill, sponsored by Senator Mukhail Adetokunbo Abiru (APC, Lagos) and all the 41 others, seeks to amend Section 8 (2) of the CBN Act.

The section currently grants the governor and deputy governor of the CBN tenure of five years and they are eligible for re-appointment for another term not exceeding five years.