Source: http://lagosmp3.com/2017/03/22/minister-of-finance-kemi-adeosun-asks-national-assembly-to-cut-the-powers-of-cbn-governor/

Minister of Finance, Kemi Adeosun, has asked the National Assembly to reduce the powers of the governor of the Central Bank of Nigeria (CBN).

Adeosun made the call when she received members of the House of Representatives Tactical Committee on Recession led by Bode Ayorinde in her office yesterday March 21st.


According to Adeosun, the enormous powers given to CBN governors have resulted in the some of the financial crisis witnessed over time. She added that the excessive powers have caused some of the CBN governors in time past to act on financial matters without recourse to the minister of finance, who according to her is constitutionally required to supervise financial policies, programmes and activities of the Federal Government.

“I want to correct the impression that the CBN is under us. They are not. Unfortunately, a law was passed, making them independent and giving them more powers. This has resulted in one person having so much power. In the time of Prof. Charles Soludo as CBN governor, he went to the National Assembly asking for more powers and you can see where that has taken us to. So we are back to the legislature to help us correct this problem of too much power. As a result, there are no checks and balances” she said

Interesting.

Adeosun Int"l

The simple question to ask is when will the powers of the ministers will equally be cut? What is good for the goose is equally good for the ganders, so the sayings goes since 1890


Sms Tboss to 32052 via ur mobile phones!

The same CBN Okonjo worked with abi?
Madam, better learn to synergize your ministry and the CBN, and stop indirectly apportioning blame.

confused people

This incompetent woman who knows nothing about fiscal policy or economy should shut up. Adeosun is the worst finance minister since 1960

This is phenomenal. Now we are making progress. Unscrupulous Politics out, actions that will stabilize the Naira in. Reno Omocriri, you're warned. Governors like SLS will not simply walk to NASS to criticize Legislators' Salaries and Allowances anyhow.
CBN Nigeria is at best similar to CB in England where The Minister of Finance always has superior responsibilities to the Governor in controlling the economy. The situation of The U.S. Federal Reserve is a different kettle. So I beg The NASS should redefine these Jobs' Duties and Responsibilities today today.

What of the powers of the over-aged Comptroller-General of Custom?

End time power

If she truly said that, then it's unfortunate
And she thinks the economy is all about packing money and saving in tsa, smh

Elrufai was right Buhari has lost control of his govt , its like somalia in there with each appointee working in isolation without a common goal or purpose .

Things Fall Apart!

DozieInc:
The same CBN Okonjo worked with abi?
Madam, better learn to synergize your ministry and the CBN, and stop indirectly apportioning blame.

Okonjo worked with SLS and that was the last of the two with Diezani and the NNPC Abracadabra.

DozieInc:
The same CBN Okonjo worked with abi?
Madam, better learn to synergize your ministry and the CBN, and stop indirectly apportioning blame.

Emefiele hasn't got it. Madam doesn't want Synergy with Biafra and Bokoharam.

chukwuibuipob:
confused people

PMB should make them stick to their constitutional responsibilities. CBN should not curry favors from NASS. One provides FUND. The other is a Store keeper for The Funds. The Foreign Reserve is kept for The Minister of Finance, who and The President must authorize every movement in and out of it.

id911:
This incompetent woman who knows nothing about fiscal policy or economy should shut up. Adeosun is the worst finance minister since 1960

Foul language against Our Minister is bad temper.

Firefire:
Things Fall Apart!

Emefiele=Ali Modu Sheriff. They play similar games in this Nigerian Politics. PMB's game!!!

1st of all i am angry with the mods. Anytime i post a subject matter of consequence that mite hit front page, they always close my thread and open theirs!! What an infradignited!!?? I am flabagasted and deflated and discouraged.
I open my thread at 10.02 pm whereas this was opened at 11pm. Mod is this a conspiracy or what? Or i should go back to the bbc oe economist.com comment sections!?

By the way this kemi of a woman seems myopic or petit minded. She wants to control tge cbn?? Is is she normal? The cbn is bigger than her ministry budget and finsnce wise. Or she wants to become a super minister? Rubbish!!



[quote author=lagosmp3 post=54831217]Source: http://lagosmp3.com/2017/03/22/minister-of-finance-kemi-adeosun-asks-national-assembly-to-cut-the-powers-of-cbn-governor/

Minister of Finance, Kemi Adeosun, has asked the National Assembly to reduce the powers of the governor of the Central Bank

orisa37:


PMB should make them stick to their constitutional responsibilities. CBN should not curry favors from NASS. One provides FUND. The other is a Store keeper for The Funds. The Foreign Reserve is kept for The Minister of Finance, who and The President must authorize every movement in and out of it.

A component of the foreign reserve is actually owned by the CBN and they do not require any authorization to do whateve they want with it.

[s]

sorepco:
1st of all i am angry with the mods. Anytime i post a subject matter of consequence that mite hit front page, they always close my thread and open theirs!! What an infradignited!!?? I am flabagasted and deflated and discouraged.
I open my thread at 10.02 pm whereas this was opened at 11pm. Mod is this a conspiracy or what? Or i should go back to the bbc oe economist.com comment sections!?

By the way this kemi of a woman seems myopic or petit minded. She wants to control tge cbn?? Is is she normal? The cbn is bigger than her ministry budget and finsnce wise. Or she wants to become a super minister? Rubbish!!

[/s]

Please debate or argue constructively

orisa37:


Emefiele hasn't got it. Madam doesn't want Synergy with Biafra and Bokoharam.

What are you talking

kaboninc:


A component of the foreign reserve is actually owned by the CBN and they do not require any authorization to do whateve they want with it.

That component must be what Biafra and Bokoharam are after. An exclusive constitutional power to CBN Governor to misbehave?

DozieInc:

What are you talking

High-Tech Funds Management.

orisa37:


That component must be what Biafra and Bokoharam are after. An exclusive constitutional power to CBN Governor to misbehave?

I don't even understand you

kaboninc:


I don't even understand you

Even Jesus Christ always apply for Power from above.What kind of Constitution permits a CBN GOVERNOR to use a Fund anyhow without permission or authorization from someone else other than him? So many conditions are making Government undemocratic in Nigeria.

orisa37:


Even Jesus Christ always apply for Power from above.What kind of Constitution permits a CBN GOVERNOR to use a Fund anyhow without permission or authorization from someone else other than him? So many conditions are making Government undemocratic in Nigeria.

Am sure you don't know what you're saying.

Do you know the composition of the foreign reserve?