President Buhari Says Only The Central Bank Act Can Determine If The CBN Governor Breached The Law By Declaring Intent To Become President In 2023

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President Muhammadu Buhari has cleared the air concerning why he declined the calls for sack of Governor of Central Bank of Nigeria, Godwin Emefiele over his presidential bid, saying it did not affect his role Central Bank of Nigeria (CBN).

Recall that Emefiele ran to be the presidential candidate of the ruling All Progressives Congress (APC) and drew widespread criticisms for being partisan while heading the CBN.

However, according to reports in an interview granted to Bloomberg, President Buhari said such decisions do not rest solely on him as Nigeria’s President.

He said that the CBN governor is appointed by the President but this appointment is subject to confirmation by the Nigerian Senate.

He said that among other conditions for the removal of a sitting CBN governor, the CBN Act did not list political participation as part of the grounds for the removal of a CBN governor which some of Emefiele’s critics pointed to.

Buhari said that therefore, such decisions can only be determined by the board of directors of the CBN to determine whether a CBN governor’s actions have fallen foul of the laws in place to ensure he can most effectively carry out his duties.

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