DAILY LAW TIPS by Onyekachi Umah,Esq.(Tip 263)
WHO ARE THE SHAREHOLDERS OF THE CENTRAL BANK OF NIGERIA.
Central Bank of Nigeria is created to promote stability and continuity in economic management of Nigeria, among other things. The minimum authorised capital of the bank is One Hundred Billion Naira. The capital are all subscribed and held by only the Federal Government. Hence, the Federal Government of is the only shareholder of Central Bank of Nigeria. So, no individual, company, bank, foreign agency, state, state government or local government is permitted to be a shareholder of the Central Bank of Nigeria.
My authorities are sections 4, 60 and 61 of the Central Band of Nigeria Act, 2007.
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