CBN Dismisses Reports Of Emefiele’s Sacking

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele is yet to be sacked by President Muhammadu Buhari, THE WHISTLER has learnt.

Reports making the rounds on social media and other platforms had indicated that the governor who had two weeks ago indicated interest in contesting for President under the platform of the All Progressives Congress, has been sacked.

But top officials of the CBN told this website that there is no letter from the President sacking the apex bank governor.

One of the officials who pleaded not to be named as he was not officially permitted to speak on the matter said, “We saw the reports on social media. We are here performing our monetary policy function. The CBN Governor has not been sacked.”

Another top official of the bank told THE WHISTLER that the speculations about the sacking of the apex bank boss was untrue.

“It’s just a rumour, nothing like that has happened,” the official said,

When contacted, the CBN Director, Corporate Communications Department, Osita Nwanisiobi told THE WHISTLER that he also heard of it on social media.

He, however did not confirmed or deny the reported sacking of Emefiele.

“I’m just hearing it the way you heard it,” he said and refused to speak further.

But a Nigerian socio-political activist, Aisha Yesufu has said President Muhammadu Buhari lacks the constitutional power to sack Emefiele as CBN Governor

Reacting to the rumoured reports, the Activist said the President may need to go through legislative processes before sacking the apex bank governor.

In a tweet on her official Twitter handle, Aisha, however, said she would love the governor to be sacked over the alleged politicisation of his office.

She wrote, “In as much as I would love @GodwinIEmefiele to be sacked for all his incompetence, failure and politicisation of his office, the President cannot SACK a CBN Governor!

“There is a process and that process must be followed. It is called “Rule of Law.”

According to the CBN Act of 2007, the President does not posses the powers to remove the governor of the CBN singlehandedly.

The Act stated that the President can only remove the CBN governor. “provided that the removal of the governor shall be supported by two-thirds majority of the Senate praying that he be so removed.”

The Act further clarifies that the CBN governor can only be removed if he or she is running for political office, appointed as a director of any bank, earns criminal conviction or becomes of unsound mind or owing to ill-health and is incapable of carrying out his duties.

ENDS