I’m still in charge at CBN, Emefiele reacts to sack rumour

Following the rumour of his sack by President Muhammadu Buhari on Monday, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele said on Tuesday that he was still in charge of the apex bank and that his tenure ends in June.

A section of the online media was awash on Monday with news that Emefiele had been sacked, while two northerners had been shortlisted to replace him pending their clearance by the Senate.

But  speaking at a Cotton Value Chain stakeholders meeting at the CBN headquarters in Abuja,  Emefiele said he reported to work normally as he always did since sack news was fake.

He said he would continue to discharge his duties as expected of him.

Emefiele’s tenure expires on June 3, 2019 and  expectedly, many have begun jostling for the plum job.

Section 8 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 is also qualified for a reappointment as the CBN governor based on the discretion of the president and the approval of the National Assembly for a fresh tenure of five years.

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.”