A report making the rounds on Monday 4th March that the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has been sacked has been reportedly debunked by the Federal Government of Nigeria.
Nigerian online news website, The Cable reports that sources in the presidency on Monday evening, said Emefiele still remains the CBN Governor.
Some media organisations had gone to town Monday evening with the news of the Apex Bank’s Chief’s sack. Some had reported that Emefiele reportedly received a letter from the Presidency to vacate his office. The Cable has said that sources within the Presidency described the report as false and misleading.
“The president does not have the power to sack the CBN governor without the approval of the National Assembly,” a source said adding that, “Suspension is different from sack, and Emefiele has not done anything wrong to be suspended or asked to proceed on terminal leave.”
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.”
The CBN Governor’s tenure is expected to expire 3rd June 2019 three months to the end of his five year tenure.
Acording to close sources, the Governor was in his office on Monday and no letter was served him in that regard.
A leadig newspaper, The Nation reports that the Central Bank of Nigeria (CBN) has dismissed claims that its Governor, Godwin Emefiele has been sacked.
Director, Corporate Communications of the CBN, Isaac Okorafor told the newspaper that “the Governor is in his office working. I don’t know what you’re talking about.”
Meanwhile, Emefiele can be reappointed as the CBN governor based on the discretion of the President and the approval of the National Assembly. Section 10 of the CBN Act prescribes that “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.”