Finance

Nigerians knock decision of CBN Governor, Godwin Emefiele, to run for president


Many Nigerians have reacted to the reported purchase of the N100 million worth All Progressives Congress’ presidential nomination and expression of interest forms by the Governor of the Central Bank of Nigeria, Godwin Emefiele. 

Many have described Emefiele’s presidential bid while still serving as the CBN governor as an attack on democratic process, adding that such action violates the CBN Act and urge him to resign his post before declaring to run for President. 

The most high profile reaction so far has come from the Ondo State Governor, Rotimi Akeredolu, who stated that Emefiele’s act portends a  great danger to the fragile economy of Nigeria. 

Akeredolu said, “This act, if unchecked, timeously, portends great danger to the fragile economy of the country. 

He added that the combined effect of the Public Service Rules, CBN Act and the 1999 Constitution, as amended, exposes not only the oddity inherent in this brash exercise of presumed right to associate 

Activist, Abdul Mahmud says the act violates Section 1 (3) of the CBN Act, 2007, citing that “Emefiele is now poking his fingers at us and our law” 

Others warned of dangers and bad precedents this sets if a CBN Governor is allowed to violate the CBN act,. @Ambrosia_Ijebu asked, “If a CBN Governor is so flagrantly disobeying the CBN Act in public by engaging in political activities, now imagine the ways he must be flagrantly disobeying that same act in private.” 

Nigerians also lamented the failure of the Legislative and Political elite to question the precedent of constitutional violators by members of the government as @kelvin__ig questioned: 

Nigerians also pointed out, how in other cases when central bank governors got too political, they were reminded of their duties and reprimanded. @TheoAbuAgada said, “Former President Jonathan suspended former CBN governor, Lamido Sanusi Lamido for meddling in politics and today, the CBN governor of Nigeria bought a ruling party’s presidential form and all the CSOs and activists that were very vocal against GEJ then are all quiet. 

Finally, Nigerians also questioned how foreign investors will view the open violation of the act, adding that this could motivate other heads of government agencies to also violate their intuitional limits and contest for political positions. Somto Onuchukwu with the handle @chosensomto asks, “How do you people think Foreign investors will react to the news of our CBN governor picking presidential nomination form?” 

Meanwhile, the office of the Presidency acknowledged that it is fully aware of the Central Bank Governor’s intentions, however, they are yet to condemn the act, as media aide to the Presidency, Bashir Ahmad hinted that Emefiele has picked a Presidential nomination form. 





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