Bill Tracker

SB. 505 Central Bank of Nigeria Act (Amendment) Bill, 2018

SB. 505 This Bill may be cited as the Central Bank of Nigeria Act (Amendment) Bill, 2018;, EXPLANATORY MEMORANDUM;, This Bill seeks to amend the Central Bank of Nigeria Act, NO.7 of 2007 to enable the appointment of a person other than the Governor as the Chairman of the Board, and also to divest the Board of the powers of determining and fixing the salaries and allowances of its members. The Bill also seeks to divest the board of the powers of considering and approving the annual budget of the Bank.