President Muhammadu Buhari says the board of the Central Bank of Nigeria (CBN) will determine Godwin Emefiele’s fate over his decision to contest 2023 Presidency.
He stated this while responding to questions posed by Bloomberg regarding the Central Bank’s independence.
According to the President, Emefiele was a victim of accusations because as an apex bank governor he follows a model outside of the economic orthodoxy.
He further stated that the CBN board of directors will determine whether Emefiele’s actions have fallen foul of the laws in place to ensure he can most effectively carry out his duties.
“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 been 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,” he added.