By Emmanuel Nduka
The Central Bank of Nigeria (CBN) has denied reports that its principal has been sacked by President Muhammadu Buhari.
Early on Wednesday, the Nigerian social media space had been awash with rumors of sack of the CBN Governor, Godwin Emefiele, after eight years in charge of the nation’s apex financial institution.
The rumor came hours after the CBN chief headed the Monetary Policy Committee (MPC) meeting of the financial regulator which pegged official lending rate at 13%.
Reacting, CBN Communications Director, Osita Nwansibe, said the speculation was false, and he did not have knowledge of such decision by President Buhari, stating that “I’m not aware.”
Emefiele has been in the news over his decision to run for the office of the President. He had dragged the Independent National Electoral Commission (INEC) and Attorney-General of the Federation to court over his ambition, but later withdrew the case.
Meawhile, section 11 (2) of the CBN Act says the President alone cannot suspend or sack the CBN Governor. It takes the President and two-thirds of the Senate majority to sack or suspend the CBN Governor.
With his political ambition, Emefiele became the first CBN Governor to express interest in an elective position while still serving as the head of the country’s financial regulator.