Why I didn’t sack CBN Governor over alleged political ambition: Buhari

*President Muhammadu Buhari explains there is a subtext to accusations against Mr. Godwin Emefiele, saying, ‘because the governor follows a model outside of the economic orthodoxy, he is labelled political…. Instead, the governor is following an alternative economic model that puts people at the heart of policy’

Isola Moses | ConsumerConnect

President Muhammadu Buhari has adduced reasons for his refusal to sack the Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), over his alleged partisan activities in the country.

ConsumerConnect reports President Buhari in a recent interview with Bloomberg, declared that Emefiele really faced allegations of “partisanship”, especially in regard to his  “unorthodox” approach to the economy.

The President, nonetheless, noted that the Governing Board of the CBN “has the power to determine if the governor erred or not.”

Recall Mr. Emefiele came under public scrutiny May 2022, after a group had procured the N100million presidential Expression of Interest and Nomination Forms of the ruling All Progressives Congress.

The CBN governor later rejected the presidential forms, noting that should he heed the call to run for the Presidency, he would use his “own hard-earned savings from over 35 years of banking leadership to buy my own Nomination Forms.”

Despite the outcry against his partisanship, Mr. Emefiele also sued the Independent National Electoral Commission (INEC) and Attorney-General of the Federation (AGF) and Minister for Justice over his eligibility.

The CBN Governor later prayed the court to stop INEC from disqualifying him from participating in the primary  election of his preferred political party that later held June 6-8, in Abuja.

It was believed despite the flurry of allegations of political partisanship against Emefiele, Buhari neither rebuked nor relieved him of his position as the CBN Governor.

Some Nigerians even urged him to resign and pursue his political ambition, if he had any, or publicly distance himself from groups clamouring for him to contest the Presidency.

Likewise, Rotimi Akeredolu and Aminu Tambuwal, Governors of Ondo and Sokoto states, had called for the resignation of the CBN Chief at a time.

Buhari in the recent interview, however, said: “The CBN Governor is appointed by the President. But this appointment is subject to confirmation by the Nigerian Senate.

“Ultimately, it will be for the CBN’s Board of Directors 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.”

The President also stated: “But there is a subtext to the accusations. Because the governor follows a model outside of the economic orthodoxy, he is labelled political. But the orthodoxy has proved wrong time and again.

“Instead, the governor is following an alternative economic model that puts people at the heart of policy. Nigeria should be free to choose its development model and how to construct our economy, so it functions for Nigerians.”

According to Buhari, Emefiele supported the policy of shutting down land borders to protect the local rice farmers in the country.

The Bank also invested billions in the agro sector of the economy through the Anchor Borrowers Programme (ABP) among other intervention programmes and initiatives.

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