Senate to revisit CBN Act, says Akpabio


The Senate yesterday said it would revisit the Central Bank of Nigeria (CBN) Act to address governance gaps in its structure.

Senate President Godswill Akpabio gave the hint during the screening of former CBN Deputy Governor, Mr Adebayo Adelabu, who was nominated as minister by President Bola Ahmed Tinubu.

Adelabu had faulted the lack of comprehensive oversight of the CBN governor, which he blamed for the overbearing influence of the holders of the position.

Akpabio said: “This is a food for thought for us. We must revisit the Act that sets up the CBN because most of the problems we are seeing cannot be answered by him.

“He cannot stand here and condemn the very institution that he belonged to, but he has at least hinted to us that it is not every decision that he agreed with or the other deputy governors agreed with.

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