A bill seeking to bar the governor of the Central Bank of Nigeria (CBN) from getting involved in partisan politics has passed the second reading in the house of representatives.
The proposed legislation also seeks to prohibit the deputy governor and directors of the CBN from participating in partisan politics while in office.
The bill, which aims to amend the Central Bank of Nigeria (CBN) Act 2007, is sponsored by Sada Soli, a lawmaker from Katsina state.
The section stipulates the conditions upon which the governor of the CBN and the deputy shall cease to hold office.
The amendment proposes to add that the CBN governor will vacate his office if he/she “is a member of a political party or involved in partisan politics”.
Leading the debate on the bill, Soli said the proposed legislation is not targeted at an individual, adding that it is intended to cure the “shock the Act has suffered when it was tested”.
“This amendment is no prejudice to anybody because the act was tested and it was found to be weak,” he said.
“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 honor to the position of the CBN governor, and deputy governor.”
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