Following the suspension and subsequent arrest of former Governor of the Central Bank of Nigeria, Godwin Emefiele, A lawyer, Chief Goddy Uwazurike, has described the act as unconstitutional.
Uwazurike said President Bola Tinubu breached the extant laws and the CBN Act by unilaterally removing Emefiele as the apex bank’s governor.
Uwazurike explained that the Federal High Court had established that in its judgement in Sanusi Lamidi Sanusi vs the Federal Government of Nigeria.
He also stated that the Federal High Court had rejected a motion ex parte by the Department of State Service (DSS) to arrest and detain Emefiele.
He argued that the appointment of the CBN Governor is a statutory one and can only be removed by the Senate resolution as cited in the Sanusi vs FGN case at the Federal High Court.
“The motion ex parte by the Department of State Service (DSS) to arrest and detain Emefiele was rejected by the FHC.”
Uwazurike added that the unilateral action of Tinubu in suspending Emefiele could have a repercussion in the international financial market.
“The reverberation in the international financial will be expected.
“President Tinubu ignored the Board of the CBN in the suspension and did not justify his actions by referring to the CBN Act.
“The person who is the acting Governor ought to have retired having crossed the age of 60.”