President Muhammadu Buhari has thrown his weight behind the Chairman of the Central Bank of Nigeria, Godwin Emefiele, over his involvement in politics.
Recall that some support groups had purchased the All Progressives Congress (APC) presidential nomination and expression of interest forms for the CBN governor which sparked loads of criticisms from Nigerians.
Emefiele, however, denied being linked to the groups, saying he would purchase the form himself if he decides to contest.
Speaking in an interview with Bloomberg about the debate around the central bank’s independence following Emefiele showing interest in running for president, Buhari said “CBN’s board of directors [is] to determine whether a CBN governor’s actions have fallen foul of the laws”
“The CBN governor is appointed by the President. But this appointment is subject to confirmation by the Nigerian Senate,” he said.
“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.
Buhari said, “there is a subtext to the accusations” against Emefiele and his involvement in politics, stating that the conventional model has failed in the past.
“Because the governor follows a model outside of the economic orthodoxy, he is labelled political. But the orthodoxy has proved wrong time and again,” Buhari added.
“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.”
