Contrary to the trending story in some online media, Newsbreak reports that Godwin Emefiele, the CBN governor is still very much on his desk without the threat of a sack.
In the last few hours, reports emerged that the CBN governor had been relieved of his post but the head of corporate communications of the Central Bank, Osita Nwanisiobi has denied the report.
Can President Buhari Sack the CBN Governor? Twitter Users React
Newsbreak.ng also understands that according to the CBN’s Act of 2007, the President must get 2/3rd support of the Senate for a CBN Governor to be removed.
Therefore, sacking the CBN Governor suddenly is against the rule of law.
In the same vein, former presidential aide and social-political activist, Reno Omokri has commented on the reported sack of the CBN Governor.
He said, “I spoke to a very top shot in the CBN about the news that Buhari sacked CBN Governor Godwin Emefiele. His response was ‘as far as I know, it is false’.
“I was against Emefiele running and retaining his post. But dont celebrate the downfall of a man God has not fallen”.
Naira struggles under Emefiele as CBN Governor
Newsbreak.ng reports that since CBN Governor Emefiele took office in March 2014 to date, the Naira official rate compared to the US Dollar has depreciated from N164 to N419 (or 61% weaker)
In the parallel market, the situation is even worse under CBN Governor Godwin Emefiele, whereby the Naira has weakened from $1/N180 to $1/605. This is a 70.5% depreciation of the Naira in 8 years.
Alleged Sack In Connection With CBN Governor’s Presidential Ambition?
The CBN Governor who is currently in Davos, Switzerland for the World Economic Forum has been under pressure since he declared interest in running for president of the Federal Republic of Nigeria.
Recall Godwin Emefiele had approached the court seeking a restrain on the Attorney General of the Federation and the Independent National Electoral Commission (INEC) from hindering him from running for the office of the president.
The judge granted the order following an ex-parte motion filed by one Nkwo Augustine Eddiego against the AGF and INEC seeking an order to restrain the defendants.
However, sources indicate the Presidency was unhappy with taking INEC to court for a matter that was not in contention.
The CBN Governor has since withdrawn the suit against INEC and Attorney General from restraining him from contesting for President.