President Muhammadu Buhari has said the Governor of the Central Bank, Godwin Emefiele, can seek elective positions without resigning from his position.
Buhari made this claim in an interview with Bloomberg published on Tuesday.
When asked if he was concerned about the debate around the Central Bank’s independence, particularly with the way the governor showed interest in running for president, Buhari said such decisions did not rest solely on him as the Nigerian president.
Speaking in the interview, Buhari said the CBN Act had not listed political participation as part of the grounds for the removal of a CBN governor.
“The CBN governor is appointed by the President. But this appointment is subject to confirmation by the Nigerian Senate.
“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.
“But there is a subtext to the accusations. Because the governor follows a model outside of the economic orthodoxy, he is labelled political. But the orthodoxy has proved wrong time and again.
“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.”
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