The CBN board, not I, will decide Emefiele’s fate regarding his alleged involvement in partisan politics- Buhari



President Muhammadu Buhari has stated that the board of the top bank, and not him, will decide the fate of Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), regarding his alleged involvement in partisan politics.

In an interview with Bloomberg, Buhari made this statement. The President Claims that in order to ensure that a CBN governor can perform his duties as effectively as possible, the board of directors of CBN decides if a governor’s act have violated any laws.

He 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.

“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.”

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