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National Assembly’s Measures to Prevent Central Bank of Nigeria Officials from Engaging in Political Activities
The National Assembly is proposing changes to the Central Bank of Nigeria (CBN) Act 2007 to prevent senior officials of the apex bank from getting involved in political activities
The National Assembly is proposing changes to the Central Bank of Nigeria (CBN) Act 2007 to prevent senior officials of the apex bank from getting involved in political activities.
The amendment aims to restrict the CBN chairman, governor, and deputy governors from participating in politics or joining any political party for three years after their tenure.
This move comes after the former CBN governor, Godwin Emefiele, entered the political scene during the lead-up to the 2023 presidential election. This caused tension in the country, especially with the controversial naira redesign introduced towards the end of President Muhammadu Buhari’s term.
To prevent similar incidents in the future, the Senate is pushing for a prohibition on CBN officials from entering the political sphere. One of the amended sections, Section 8, in the Central Bank of Nigeria Act 2007 (Amendment) Bill 2023 states: [the specific text of the amended section 8 would be inserted here].
“The Governor and Deputy-Governors shall be persons of recognised financial experience and shall be appointed by the President, subject to confirmation by the Senate on such terms and conditions as may be set out in their respective letters of appointment.
“The Chairman shall also be appointed by the President. The Chairman, Governor and Deputy Governors shall not engage in or be a member of any political party until three (3) years after disengaging from office.”
- The bill suggests that the top executives of the CBN, including the chairman, governor, and deputy governors, will be appointed for an initial five-year term.
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They can be reappointed for one more term, up to five years.
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A transitional clause specifies different terms for the initial deputy governors to enable a phased leadership transition, with two serving for three years and two for four years.
News
Rivers Assembly Speaker Accompanies Gov Fubara to Foil Police Plot to Steal Election Materials
Early this morning, Governor Siminalayi Fubara of Rivers State, along with Speaker Victor Oko Jumbo and other state leaders, thwarted an attempt by rogue policemen to steal sensitive election materials.
Early this morning, Governor Siminalayi Fubara of Rivers State, along with Speaker Victor Oko Jumbo and other state leaders, thwarted an attempt by rogue policemen to steal sensitive election materials.
The incident occurred around 1 am when Deputy Commissioner of Police (Operations) and his team attempted to break into the Rivers State Independent Electoral Commission (RSIEC) office. They aimed to seize materials for the upcoming local government elections scheduled for Saturday.
However, vigilant security personnel at the RSIEC office spotted the intruders and raised the alarm. RSIEC staff quickly alerted Governor Fubara, who immediately assembled a rescue team.
The team, which included Speaker Oko-Jumbo, lawmakers, government officials, and political stakeholders, arrived at the RSIEC office and confronted the situation.
This incident highlights the importance of vigilance and the need to protect the integrity of the electoral process.
News
Davido has chosen to ignore the taunts directed at him by Wizkid on social media
Wizkid recently criticized Davido on social media, reigniting the feud. This happened after Davido teased his upcoming single. Wizkid’s associate, Black Tycoone, seemingly mocked Wizkid for the delay in his album release.
The rivalry between Wizkid and Davido has been ongoing for a long time.
Wizkid recently criticized Davido on social media, reigniting the feud. This happened after Davido teased his upcoming single. Wizkid’s associate, Black Tycoone, seemingly mocked Wizkid for the delay in his album release.
“Tell your Daddy to drop an album already.”
The singer then took to X (formerly Twitter) to throw shade at Davido’s camp, writing, “P***y boys dropping mid again,” followed by, “Una don tire! Make una go rest small!”
Although he didn’t name Davido directly, fans quickly saw the post as a dig at the “Feel” singer.
One fan, defending Davido, accused Wizkid of using their rivalry to gain attention, tweeting, “So if you no beef @davido, your song won’t sell?”
Wizkid swiftly denied clout-chasing accusations, instead launching a scathing attack on Davido’s talent. “I don’t beef wack niggas! We all know he’s wack! No talent!” he retorted.
Davido, however, remained silent on Wizkid’s jabs, choosing to focus on promoting his other projects across social media.
News
Tinubu to Address Nigerians on Independence Day
President Bola Ahmed Tinubu will address Nigerians by 7 a.m. tomorrow, as Nigeria marks its 64th Independence Day.
President Bola Ahmed Tinubu will address Nigerians by 7 a.m. tomorrow, as Nigeria marks its 64th Independence Day.
The special adviser to the president on Information and Strategy, Bayo Onanuga, announced this in a statement on Monday.
According to him: “Television, radio stations and other electronic media outlets are enjoined to hook up to the network services of the Nigerian Television Authority and the Federal Radio Corporation of Nigeria for the broadcast,” Onanuga said.
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