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CBN Act - ProbitasNews

CBN Act: Senate holds emergency plenary, approves FG’s request

The Senate of the Federal Republic of Nigeria held an emergency plenary on Saturday, presided over by Senate President Dr Ahmad Ibrahim Lawan. The plenary voted to amend the Central Bank of Nigeria Act, increasing advances from 5% to 15%. Senator Gobir Ibrahim Abdullahi of the Sokoto East Senatorial District, who sponsored the bill, stated that the bill to amend the CBN Act was first read on Wednesday, May 24, 2023. He explained that the...