Buhari backs Emefiele, says CBN governor following ‘alternative business model’

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President Muhammadu Buhari has finally responded to calls for the removal of Central Bank of Nigeria (CBN) Governor Godwin Emefiele over his apparent partisanship.

In May, Mr. Emefiele revealed his interest in being the presidential candidate of the ruling All Progressives Congress (APC) party, even though he had not resigned.

Amid calls for his removal, Mr Emefiele asked a court to declare him fit to run for the country’s top job without leaving office. The lawsuit failed.

Mr Emefiele only backed down after the president then ordered all government appointees seeking elective posts to resign first.

In a writing response to questions from BloombergMr Buhari said the removal of the CBN Governor did not rest solely on him.

“The CBN Governor is appointed by the President. But this appointment is subject to confirmation by the Nigerian Senate,” he said.

“Ultimately, it will be up to the CBN Board of Directors to determine whether the actions of a CBN Governor violated the laws in place to ensure that he can most effectively discharge his duties. functions.


ALSO READ: 2023: CBN’s Emefiele steps down, withdraws complaint against INEC, AGF


“But there is a subtext to the accusations. Because the governor follows a pattern outside of economic orthodoxy, he is labeled political. But orthodoxy has been proven wrong time and time again.

“Instead, the governor follows an alternative economic model that puts people at the heart of politics. Nigeria should be free to choose its development model and how to build our economy, so that it works for Nigerians,” he said.

One consequence of Mr. Emefiele’s apparent partisanship was the announcement by the Independent National Electoral Commission (INEC) that it would no longer keep sensitive election materials at the CBN.


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