Nigeria’s upper legislative chamber, the Senate, on Tuesday passed for second reading an amendment Bill intended to set the tenures of Central Bank Governor and Deputy Governors at a six year single non-renewable term. The upper chamber is also proposing one year notice from apex bank on any policy for the replacement of old Naira […]
Public and private sector stakeholders in the financial services sector have expressed their support for the passage of the Nigeria Deposit Insurance Corporation (NDIC) Act 2006 Amendment Bill currently before the National Assembly. The lead institutions in the sector said that the proposed amendment of the Act would enhance the corporation’s capacity in its sustained […]
The Senate Committee on Banking, Insurance and other Financial Institutions has expressed its intention to seek clarifications from the Central Bank of Nigeria (CBN) on its ongoing dialogue with MTN Nigeria over the $8.1 billion fine imposed on the telecom operator. The Committee disclosed this on the rumoured negotiation by the Federal Government, through the […]