There has been increased agitations for the Governor of the Central Bank of Nigeria (CNB), Mr Godwin Emefiele, to resign his position or for the President to fire him.
Godwin Emefiele joined the 2023 presidential race under the platform of the All People’s Congress (APC). Although the Electoral Act stipulates that he resigns his position as enshrined in Section 107 (1)(f) of the Electoral Act, which states that ‘…he is a person employed in the public service of the Federation or of any State or Area Council (other than a person holding elective office), and he has not resigned, withdrawn, or retired from such employment 30 days before the date of the election.’ He refused to resign his position unlike other employees of the federal government like the Minister for Transport, Rotimi Amaechi, who is also seeking the highest office of the land. Others that resigned include Chris Ngige, Timipre Sylver, and Justice, Abubakar Malami SAN.
Emefiele, rather than resigning, sought court protection to continue as the CBN Governor while in the presidential race until two days ago, Monday, 22 May when he withdrew the suit and also withdrew from the race on.
Despite his withdrawal from the race, many have called for his removal citing violations of the Code of Conduct for Public Officers as well as sections of the constitution. Beyond these clear violations, there is also the blatant disregard for the ideals of separation of powers that sustain a democracy.
Though Emefiele is wrong for not resigning from his position after joining the race to succeed President Buhari, the President cannot summarily dismiss Emefiele because he himself would be in violation of the CBN Act 2007.
According to Section 11(2)(f) of the CBN Act, the President shall remove the CBN Governor from office provided that the governor’s removal shall be supported by a two-thirds majority of the Senate praying that he be removed.
A precedent was set under the Goodluck Jonathan administration when the erstwhile CBN Governor Lamido Sanusi was suspended from office a few months before the completion of his tenure.
The suspension was highly contested and the national assembly was divided along partisan lines. While some said it was a violation of the autonomy of public institutions, others said a public servant can be fired by his principal.
This suspension led to his subsequent dismissal, and he was replaced by Godwin Emefiele.
While President Goodluck Jonathan’s precedent of dismissing a CBN governor stood, the law is clear on the process of the removal of a CBN governor. As the saying goes, two wrongs don’t make a right, so two thirds majority of the senate asking for his removal, is the due process that the president must follow to remove Emefiele as CBN governor.