Godwin Emefiele, the governor of the Central Bank of Nigeria, is expected to be suspended, according to leading attorney and human rights campaigner Mr. Clement Nwankwo, because of the dishonest way he managed the top bank.
Nwankwo, on the other hand, voiced objections to the dismissal of Emefiele, claiming that it was against the CBN Act.
Without a doubt, Nwankwo said, the removal of the central bank governor is a positive step, but it must be done in accordance with the law because the president lacks the authority to suspend the CBN governor.
He criticised the Senate for failing to do its oversight duties, despite the fact that, in his opinion, it had the authority to remove the CBN governor long ago. The attorney said he anticipates
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He criticised the Senate for failing to do its oversight duties, despite the fact that, in his opinion, it had the authority to remove the CBN governor long ago. The attorney expressed interest in seeing how the upcoming 10th Senate handled the circumstance.
Nwankwo also agreed with Senior Advocate of Nigeria Femi Falana, who argued that Emefiele should be handed over to the Economic and Financial Crimes Commission for investigation into allegations of money laundering and other economic crimes while being prosecuted by the Department of State Services (DSS) for allegedly financing terrorism.
“Emefiele’s suspension was certainly not unexpected. As a lawyer, I am very much concerned about due process and I am very much concerned about following the constitutionality in doing this,” Nwankwo said on Channels Television’s Sunday Politics.
“Everyone knows that Mr Emefiele was going to come to a sad ending because of the way he had managed the Central Bank because of the lack of professionalism he exhibited in his work and because he really crossed the boundaries of professionalism. So, it was quite clear that he was going to be out of the CBN, the question was when and who would do it.”
“What is really disappointing is that when you look at the laws that established the Central Bank, there are provisions for removing a central bank governor.”
