Sack: What the Law Says about Emefiele as Buhari Demands Ministers, Others with Ambition to Resign
- President Muhammdu Buhari has requested ministers and all his political appointees nursing a political ambition to resign
- CBN governor, Godwin Emefiele has been in the eye of the storm, as he has neither denied nor openly declared his ambition to become the next president
- In this report, we detailed what the says law in regards to the resignation, sack and removal of a CBN governor
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Following calls from President Muhammdu Buhari to its ministers and political appointees to resign before Monday, May 16, 2022, Godwin Emefiele, the Central Bank of Nigeria Governor is one name that has been in the eyes of the storm.
Despite the fact that Emefiele has yet to publicly declare his desire, there is a N100 million All Progressive Congress presidential nomination form purchased by farmers on his table.
On Wednesday, May 11, 2022, the CBN governor was copied in a fresh memo requesting the resignation of everyone with political ambitions in the government of President Buhari.
CBN governor visit Buhari
Following the Memo, Godwin Emefiele paid a visit to President Buhari at Aso Rock on Thursday, May 12, after which he shrugged off Nigerians' worry and allegations of his apparent presidential aspirations when confronted by journalists following their meeting, Ripples Nigeria reports.
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According to him, those calling for his resignation over the rumoured bid to contest the 2023 presidential election, should have heart attacks as he is simply having fun.
Emefiele was quoted as saying:
‘’There is no news but there will be news. I’m having fun at the scenario. Let them have heart attack. It’s good to have heart attack. I am having a lot of fun.’’
What the law says on CBN governor cessation of appointment
There are seven provisions governing the termination of Emefiele's appointment, according to the CBN act 2007, amid growing calls for him to resign.
- A person shall not remain a Governor, Deputy Governor or Director of the Bank if he is a member of any Federal or State legislative house; or a Director, officer or employee of any bank licensed under the Banks and Other Financial Institutions Act.
- The Governor, Deputy Governor or Director shall cease to hold office in the Bank if he becomes of unsound mind or, owing to ill health, is incapable of carrying out his duties; is convicted of any criminal offence by a court of competent jurisdiction except for traffic offences or contempt proceedings arising in connection with the execution or intended execution of any power or duty conferred under this Act or the Banks and Other Financial Institutions Act;
- is guilty of serious misconduct in relation to his duties under this Act;
- is disqualified or suspended from practising his profession in Nigeria by order of a competent authority made in respect of him personally;
- becomes bankrupt;
- is removed by the President: Provided that the removal of the Governor shall be supported by a two-thirds majority of the Senate praying that he be so removed.
- The Governor may resign his office by giving at least three months' notice in writing to the President of his intention to do so and any Director may similarly resign by giving at least one month's notice in writing to the President of his intention to do so.
2023: PDP demands immediate arrest, prosecution of CBN Gov Emefiele
The PDP had reacted to reports that Godwin Emefiele purchased the APC presidential nomination form.
The party's spokesman, Debo Ologunagba, said Emefiele is insulting the sensibilities of Nigerians by seeking the office of the president while still serving as governor of the apex bank.
The opposition accused the CBN governor of abuse of office and called on security agencies to arrest and prosecute him.