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Senate moves to increase bank’s authourised capitalisation to N1trn 

The Senate proposed a 6-year single term for CBN governors and a one-year notice for the replacement of existing banknotes. The Senate has passed for second reading a bill seeking some amendments to the Central Bank of Nigeria (CBN) Act, including a proposal to increase the Bank’s authorised capital to N1 trillion.  The bill also seeks to ensure that the Apex Bank gives a notice of at least one year to replace the existing legal...

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