President Tinubu suspended the CBN governor in a move reminiscent of Sanusi Lamido’s removal as CBN governor in 2014. Once again, the move has thrown up questions about whether the President has the power to suspend the CBN governor.
In an unexpected move on Friday night, President Bola Tinubu suspended the Governor of the Central Bank, Godwin Emefiele. In a statement that has now been published by several publications credited to the Director of information at the Office of the Secretary to the Government of the Federation SGF, Emefiele’s suspension was “sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.” Since Emefiele’s tenure as CBN governor ends in June, it is a surprising move that will now raise legal questions.
In 2014, President Goodluck Ebele Jonathan suspended the then-CBN governor, Sanusi Lamidoo Sanusi. Many called that suspension illegal, citing the CBN Act. Section 11 of the CBN Act…
