Removing signature

Eh, I see how that signature could bother you.
Signature placement can make or break a piece of art work. It should be inconspicuous but clear. Not done so brightly and emphatically that the signature competes with the painting for the viewer's attention.
You can use paint thinners and q-tips to remove the signature. It will take everything off, including what's beneath the signature. So, you'd have to repaint it. Colors tend to dry darker so going with a lighter paint would be a good bet. Maybe someone at an art store could help you match colors.
You could go oil or acrylic with this one.
Out of respect for the artist though, you should at least print their name on the back of the canvas.