Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria, criticised Godwin Emefiele’s decision to run for president of the country while he was still the CBN’s governor.
Emefiele’s decision to run for president of the country while serving as governor of the Central bank, according to Mr. Moghalu, violated article 9 of the CBN act, he explained in a tweet on Tuesday night.
“seeking the Office of the President WHILE sitting on the seat of the CBN Governor WAS and IS illegal, because it violates Article 9 of the CBN Act. Clearly, politics is a vocation. In the refusal to resign from the office of the Governor in order to pursue it, and instead USING that unique Office that should be completely APOLITICAL to pursue a political ambition, thus undermining the letter and spirit of the job itself in the CBN Act 2007,” Mr Moghalu said.
He clarified that some positions do not permit the office holder to participate in partisan politics while holding the position.
“There are certain positions that simply are INCONSISTENT with membership of any political party, or other active involvement in partisan politics WHILE occupying the office at the time in question: A Justice or Magistrate of any court in Nigeria. The CBN Governor is another. The principle of central bank independence, which developed to shield reserve bank decision-making from subjective and vested interests that might be harmful to the economy in the long run, is meant to prevent these kinds of situations. The consequences of complete disregard for the principle of the Nigerian economy are there for the whole world to see in the Nigerian case,” he added.
His remarks come as the troubled CBN governor is being held by the Department of State Services.
Mr. Emefiele was recently charged to court in response to a court order that mandated the DSS to file criminal infraction charges against the troubled bank chief within seven days or immediately ensure his release.
More Stories
Bandits abduct former NLC President in Kaduna
Learn from Kenya, Obi urges Tinubu, other political leaders
CJN Ariwoola to swear-in his daughter-in-law, 11 others as High Court judges, Wednesday