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Presidency Debunks Sacking CBN Governor, Godwin Emefiele

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As a disclaimer, BlackBox Nigeria can report that the Presidency has come out to debunk any news of the sack of Godwin Emefiele, saying he remains the governor of the Central Bank of Nigeria.

Recall that BlackBox Nigeria had reported that Emefiele received a letter from the office of President Muhammadu Buhari to vacate his office.

BlackBox Nigeria subsequently gathered that sources within the presidency in a report by TheCable says no such letter was received by the Office of the governor.

In the recent statement by the top Executive echelons,

“The president does not have the power to sack the CBN governor without the approval of the national assembly,” one of the persons familiar with the matter told TheCable.

When the media firm likened the matter to the suspension of Muhammad Sanusi II, the former CBN governor, the source said: “we have departed from those years”.

Recall that section eight of the CBN Act of 2007 says a CBN governor can be removed by the president provided that the removal of the Governor shall be supported by two-thirds majority of the Senate praying that he be so removed.

Emefiele’s tenure as CBN governor is expected to come to an end on June 3, 2019 — five years after his appointment.

On his fate as CBN boss, BlackBox Nigeria understands that Emefiele can be reappointed as the CBN governor based on the discretion of the president and the approval of the national assembly.

In the Section 10 of the CBN Act “the Governor and Deputy Governors shall be appointed in the first instance for a term of five years and shall each be eligible for re-appointment for another term not exceeding five years”.

Information has it that Aishah Ahmed, former head of consumer and privilege banking at Diamond Bank, is among those being tipped to replace Emefiele.

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