* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, July 30, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Future Script: How Generative AI Is Changing Collective Bargaining in the Entertainment Industry – Jackson Lewis

    Future Script: How Generative AI Is Transforming Collective Bargaining in Entertainment

    The SBA’s live-entertainment bailout was supposed to end two years ago. We still don’t know how $1.5 billion was spent. – Yahoo Home

    $1.5 Billion Live-Entertainment Bailout: Two Years Later, Where Did the Money Go?

    Wall Street Bets: Caesars, Golden Entertainment, Churchill Downs, GLPI, Boyd – CDC Gaming

    Top Wall Street Bets: Caesars, Golden Entertainment, Churchill Downs, GLPI, and Boyd Take Center Stage

    Micro wrestling coming to NE Ohio – Cleveland.com

    Get Ready, NE Ohio: Micro Wrestling Is Making Its Exciting Debut!

    League City seeking proposals for 53-acre entertainment district on sportsplex land – galvnews.com

    League City Invites Proposals to Transform 53-Acre Sportsplex into Vibrant Entertainment District

    Top 5 entertainment news: Sandeep Reddy Vanga regrets trimming Animal’s runtime by 7-8 minutes, Akshay Ku – Times of India

    Top 5 Entertainment Highlights: Sandeep Reddy Vanga Reveals Why He Trimmed Animal’s Runtime by 7-8 Minutes, Plus Akshay Ku Updates

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Revving Up The U.S. Technology Engine – Forbes

    Revving Up The U.S. Technology Engine – Forbes

    More than just a hockey player – Rochester Institute of Technology Athletics

    Beyond the Ice: The Inspiring Journey of a Remarkable Athlete from Rochester Institute of Technology

    Smart Logistics in Warehousing – From Legacy Protocols to Green IoT – How Technology Is Reshaping the Sustainable Supply Chain – Logistics Viewpoints –

    Smart Logistics in Warehousing – From Legacy Protocols to Green IoT – How Technology Is Reshaping the Sustainable Supply Chain – Logistics Viewpoints –

    AI’s race in the dark with China – Axios

    The High-Stakes AI Race: Innovation and Competition in the Shadows

    Eagle Unveils Revolutionary X-Ray Technology at Pack Expo

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Future Script: How Generative AI Is Changing Collective Bargaining in the Entertainment Industry – Jackson Lewis

    Future Script: How Generative AI Is Transforming Collective Bargaining in Entertainment

    The SBA’s live-entertainment bailout was supposed to end two years ago. We still don’t know how $1.5 billion was spent. – Yahoo Home

    $1.5 Billion Live-Entertainment Bailout: Two Years Later, Where Did the Money Go?

    Wall Street Bets: Caesars, Golden Entertainment, Churchill Downs, GLPI, Boyd – CDC Gaming

    Top Wall Street Bets: Caesars, Golden Entertainment, Churchill Downs, GLPI, and Boyd Take Center Stage

    Micro wrestling coming to NE Ohio – Cleveland.com

    Get Ready, NE Ohio: Micro Wrestling Is Making Its Exciting Debut!

    League City seeking proposals for 53-acre entertainment district on sportsplex land – galvnews.com

    League City Invites Proposals to Transform 53-Acre Sportsplex into Vibrant Entertainment District

    Top 5 entertainment news: Sandeep Reddy Vanga regrets trimming Animal’s runtime by 7-8 minutes, Akshay Ku – Times of India

    Top 5 Entertainment Highlights: Sandeep Reddy Vanga Reveals Why He Trimmed Animal’s Runtime by 7-8 Minutes, Plus Akshay Ku Updates

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Revving Up The U.S. Technology Engine – Forbes

    Revving Up The U.S. Technology Engine – Forbes

    More than just a hockey player – Rochester Institute of Technology Athletics

    Beyond the Ice: The Inspiring Journey of a Remarkable Athlete from Rochester Institute of Technology

    Smart Logistics in Warehousing – From Legacy Protocols to Green IoT – How Technology Is Reshaping the Sustainable Supply Chain – Logistics Viewpoints –

    Smart Logistics in Warehousing – From Legacy Protocols to Green IoT – How Technology Is Reshaping the Sustainable Supply Chain – Logistics Viewpoints –

    AI’s race in the dark with China – Axios

    The High-Stakes AI Race: Innovation and Competition in the Shadows

    Eagle Unveils Revolutionary X-Ray Technology at Pack Expo

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Validea’s Top Information Technology Stocks Based On Peter Lynch – 7/25/2025 – Nasdaq

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

The amendment of the CBN Act may pose great risk to the economy – Analysts

May 27, 2024
in Business
The amendment of the CBN Act may pose great risk to the economy – Analysts
Share on FacebookShare on Twitter

The move to review the Central Bank of Nigeria Act 2007 by the National Assembly may erode the powers of the apex bank, water down its policies, and endanger the country’s economy, analysts polled by BusinessDay have said.

They noted that though the excercise will act as checks and balances to the CBN, it may send negative signals to investors, adding that having an independent central bank remains the accepted practice across all major world economies.

Muda Yusuf, an economist and chief executive officer of the Centre for the Promotion of Private Enterprise stated that the amendment Act will pose a great risk to the independence of the central bank.

“The CBN deserves its autonomy to shield it from undue interference from its activities. Too much interference will affect the quality of the economic policies emerging from the CBN as well as its personnel,” Yusuf said.

He explained that the independence enjoyed by the central bank is part of the reasons why investors are confident in positioning their businesses in the country, stressing that the problem is not really about the law but those that would be appointed to occupy certain positions upon amending it.

Citing the gross violations of the Act under the former governor of the CBN, Godwin Emefiele, the CPPE boss said if the laws are not rightly amended, the apex bank could easily be compromised.

“Whether the law is from the National Assembly or the Judiciary, once the CBN is compromised, a lot of things will go wrong,” he said.

Adeola Adenikinju, a professor of Economics and the President of the Nigeria Economic Society (NES) said the amendment of the 2007 Act will potentially erode the CBN’s independence, which could be detrimental to the nation’s economy.

“I have no doubt that the review of the CBN Act 2007 by the National Assembly will weaken the independence of the central bank,” he said.

“The central bank won’t be able to play effective monetary policies roles, even investors who contribute to the economy want to ensure that the central bank has the autonomy to make certain monetary decisions,” he added.

The University of Ibadan don said while the review is aimed at promoting transparency within the country’s apex bank, it will create more harm than good.

Adenikinju stressed that the conversation should bother around the total implementation of the 2007 Act rather than reviewing it.

The bill, sponsored by Tokunbo Abiru, a Lagos Senator and co-sponsored by all 41 members of the Senate Committee on Banking, Insurance and Other Financial Institutions is expected to make certain changes in the organizational structure of the Abuja-based bank.

Key aspects of the legislation the lawmakers are seeking to amend include the establishment of a 7-member coordinating committee for monetary and fiscal policies to be chaired by the minister of finance.

The tenure of the CBN governor and deputy governors upon the review will be set at a single non-renewal term of six years .

Also, it will see to the appointment of a minimum of one career staff of the bank in the committee of governors and appointment of at least one female among the external directors.

In addition, the bill is seeking to establish the position of chief compliance officer in the rank of a deputy governor, who reports directly to the board and may occasionally be summoned to appear before the relevant committee of the National Assembly.

Furthermore, the bill proposes that the CBN governor appears on a semi-annual basis whilst the National Assembly in the exercise of its constitutional duties should reserve the power to invite the governor to make presentations from time to time as need arises.

It also proposes publishing a monetary policy report and an interim financial report every six months, where the governor fails to make a report to the president and the National Assembly as required by law, he should be served with a warning letter by the National Assembly.

And if the failure persists, by a recommendation from the National Assembly, the governor will be suspended from office by the President, among others.

“Reviewing the CBN Act of 2007 could lead to potential changes in the central bank’s mandate, governance structure, monetary policy tools, and regulatory framework,” a source familiar with the matter said.

“The amendment could put too much political interference in economic matters. This could impact the economy, financial stability, and the central bank’s independence,” the source added.

“While some of the proposed amendments to the CBN Act are commendable as they were designed to entrench the culture of compliance, strengthen corporate governance, and reposition the bank for improved performance in attaining its mandate, some others could erode the bank’s autonomy and weaken the independence of monetary policy, at variance with international best practices,” a university professor who doesn’t want to be mentioned said.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Businessday.ng – https://businessday.ng/news/article/the-amendment-of-the-cbn-act-may-pose-great-risk-to-the-economy-analysts/

Tags: AmendmentbusinessECONOMY
Previous Post

African leaders convene in South Africa for energy investment, security

Next Post

Chelsea in advanced talks to sign Leicester City’s Enzo Maresca

Reducing nutrients in Puget Sound – Department of Ecology – State of Washington (.gov)

How Reducing Nutrient Pollution Can Revitalize Puget Sound’s Ecosystem

July 30, 2025
DOKTOR KABOOM! LOOK OUT! SCIENCE IS COMING Comes to the Coppell Center – BroadwayWorld.com

DOKTOR KABOOM! LOOK OUT! SCIENCE IS COMING Comes to the Coppell Center – BroadwayWorld.com

July 30, 2025
Building Resilience in Coastal Communities with NASA Earth Science – NASA Applied Sciences (.gov)

Building Resilient Coastal Communities: The Power of NASA Earth Science

July 30, 2025
Lifestyle Changes Can Slow Cognitive Decline as You Age, Pointer Study – HealthDay

Lifestyle Changes Can Slow Cognitive Decline as You Age, Pointer Study – HealthDay

July 30, 2025
Arab world tells Hamas to lay down arms and end rule of Gaza – The Telegraph

Arab World Calls for Hamas to Disarm and Step Down from Gaza Leadership

July 30, 2025
IMF upgrades global growth forecast as weaker dollar aids world economy – Financial Times

IMF upgrades global growth forecast as weaker dollar aids world economy – Financial Times

July 30, 2025
Future Script: How Generative AI Is Changing Collective Bargaining in the Entertainment Industry – Jackson Lewis

Future Script: How Generative AI Is Transforming Collective Bargaining in Entertainment

July 30, 2025

Celebrating Excellence: Joy in Medicine® Health System Recognition Program

July 30, 2025
Dorothy Teater, remembered as a ‘trailblazer’ for women in central Ohio politics, dies at 94 – The Columbus Dispatch

Dorothy Teater, remembered as a ‘trailblazer’ for women in central Ohio politics, dies at 94 – The Columbus Dispatch

July 30, 2025
Revving Up The U.S. Technology Engine – Forbes

Revving Up The U.S. Technology Engine – Forbes

July 30, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (746)
  • Economy (770)
  • Entertainment (21,650)
  • General (16,188)
  • Health (9,807)
  • Lifestyle (778)
  • News (22,149)
  • People (772)
  • Politics (779)
  • Science (15,983)
  • Sports (21,267)
  • Technology (15,750)
  • World (753)

Recent News

Reducing nutrients in Puget Sound – Department of Ecology – State of Washington (.gov)

How Reducing Nutrient Pollution Can Revitalize Puget Sound’s Ecosystem

July 30, 2025
DOKTOR KABOOM! LOOK OUT! SCIENCE IS COMING Comes to the Coppell Center – BroadwayWorld.com

DOKTOR KABOOM! LOOK OUT! SCIENCE IS COMING Comes to the Coppell Center – BroadwayWorld.com

July 30, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version