Naira Crisis: Why we can’t sanction Emefiele — APC

Posted by News Express | 15 March 2023 | 541 times

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• Governor of CBN, Godwin Emefiele


The All Progressives Congress (APC) has revealed why it could not sanction the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for defying the Supreme Court ruling on the controversial Naira redesign policy.

Speaking in an exclusive interview with the Punch, the National Publicity Secretary of the party, Felix Morka said in as much as Emefiele was not one of the party aspirants who bought presidential nomination forms, the decision to hire or fire him rests with the President.

He said, “Emefiele was hired by the president and he serves at the pleasure of the president. So no one person or a group of persons even in the party has the authority to hire and fire the CBN governor. That is the exclusive prerogative of the president.

“The president has its power as constituted by law and under the CBN Act as well. As I earlier said, everything concerning the hiring and firing of the CBN governor rests with the president. The position of the party on that is irrelevant. He makes the decision as he chooses.”

Recall that the scarcity of the new naira notes brought about by the CBN policy had generated tension and untold hardship for the masses.

In the last two months, a considerable number of Nigerians have thrown caution to the wind and invaded several banks to register their displeasures in bizarre manners.

Viral video clips of half-clad customers breaking down bank gates and threatening to beat officials have surfaced on social media space.

This has, however, led to the call for Emefiele’s resignation following his constant disobedience to the Supreme Court order on the usage of the old Naira notes.

Meanwhile, Buhari has denied instructing Emefiele and the Attorney General of the Federation, Abubakar Malami, to defy the Supreme Court Order on the naira redesign policy.

Buhari made the disclaimer in a series of tweets posted by the presidency on Monday evening. (New Telegraph: Text, Excluding Headline)

Source: News Express

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