President Muhammadu Buhari led administration has reportedly asked the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to proceed on leave ahead of expiration of his tenure, Igbere TV has learnt.
According to report, Emefiele was said to have received a letter to the effect on Monday.
President Muhammadu Buhari
The financial expert has been Governor of the Central Bank of Nigeria since June 3, 2014.
He was Chief Executive officer and Group Managing Director of Zenith Bank Plc and previously the Deputy Managing Director of Zenith Bank Plc.
Igbere TV recalls that Emefiele served as Executive Director in charge of Corporate Banking, Treasury, Financial Control and Strategic Planning of Zenith Bank Plc and has been on the Management team since inception.
Emefiele was one time a director at Zenith Bank Plc and Zenith Bank (Gambia) Limited.
Before commencing his banking career, he lectured Finance and Insurance at the University of Nigeria Nsukka, and University of Port Harcourt, respectively.
He is an alumnus of Executive Education at Stanford University, Harvard University (2004) and Wharton School of Business (2005).
Igbere TV reports that Emefiele holds a B.Sc. degree in Finance in 1984 and an MBA Degree in Finance in 1986, both from the University of Nigeria, Nsukka.
Meanwhile, some sources in the Presidency have debunked the news deny any such order from President Buhari.
Sources within the presidency told Igbere TV there is no truth in the reports.
“The president does not have the power to sack the CBN governor without the approval of the national assembly,” one of the persons familiar with the matter told reporters.
When the matter was likened to the suspension of Muhammad Sanusi II, the former CBN governor, the source said: “we have departed from those years”.
Section eight of the CBN Act of 2007 says a CBN governor can be removed by the president “provided that the removal of the Governor shall be supported by two-thirds majority of the Senate praying that he be so removed”.
Emefiele’s tenure as CBN governor is expected to come to an end on June 3, 2019 — five years after his appointment.
Another source said “the rumour mill is grinding so fast, seeing its exactly three months to the expiration of his tenure”.
Section 10 of the CBN Act prescribes that “the Governor and Deputy Governors shall be appointed in the first instance for a term of five years and shall each be eligible for re-appointment for another term not exceeding five years”.
Aishah Ahmed, former head of consumer and privilege banking at Diamond Bank, is among those being tipped to replace Emefiele.
More details soon….
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