It aims at altering the current corporate governance structure of CBN from relative independence and autonomy in budgeting to some incoherently defined dependency and subservience on the national assembly. Twin issues of concern for the legislators are the composition of the Board membership as well as its budgeting process. The National Assembly reasons that the subsisting CBN Act allows the Board Chairman, who is the CBN Governor, “unfettered” powers to approve its budget without referring to ...
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Added May 27, 2012
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