CIS, ASHON express concerns over proposed CBN amendment bill

📆 5/29/2024 5:42 AM
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Stakeholders in the capital market have voiced their reservations over the proposed amendments to the Central Bank of Nigeria (CBN) Act No. 7 of 2007, warning of potential adverse economic consequences.

Stakeholders in the capital market have voiced their reservations over the proposed amendments to the Central Bank of Nigeria Act No. 7 of 2007, warning of potential adverse economic consequences.

Critics argue that these changes could introduce political interference in monetary policy decisions, hampering the central bank’s ability to manage the economy effectively and objectively. “Safeguarding the independence of the Central Bank of Nigeria is crucial for aligning with global economic best practices and ensuring decisions are driven by sound financial principles, free from undue influence,” Dada stated.

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