October 25, (THEWILL) – The Senate, on Wednesday, considered two bills seeking to bar the Governor of the Central Bank of Nigeria (CBN) and Deputy Governors of the apex bank from participating in politics while in service.
The two bills, sponsored by Sunday Karimi, the lawmaker representing Kogi West Senatorial District and Darlington Nwokocha, lawmaker representing Abia Central Senatorial District, were passed after a second reading during plenary at the upper chamber.
The bills proposed that Section 9 of the CBN Act, 2007, prohibit the CBN Governor and Deputies from being members of any political party or from participating in any political activity while in office.
The bills also proposed that the Auditor-General of the Federation, the Chairmen of the Federal Inland Revenue Service (FIRS) and the Chartered Institute of Bankers in Nigeria (CIBN) be represented on the board of the CBN.
During debates on the bills, the lawmakers proposed that Section 9 be further amended to insulate the CBN Governor and Deputies from participating in politics while in service.
Deputy Senate President, Jibrin Barau, referred the bills to the Senate Committee on Banking and Finance.
The Committee has two weeks to report back to the Senate.
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