CBN board of directors will determine Emefiele’s fate over alleged participation in partisan politics


Central Bank Governor - Godwin Emefiele
Central Bank Governor – Godwin Emefiele

President Muhammadu Buhari has revealed that fate of the Governor of Central Bank of Nigeria (CBN) Godwin Emefiele over alleged participation in partisan politics, will be determined by CBN board of directors.

Buhari said this in an interview with Bloomberg. According to the President, CBN’s board of directors determines whether a CBN governor’s actions have fallen foul of the laws in place to ensure he can most effectively carry out his duties. 

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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