President Muhammadu Buhari has revealed why he failed to sanction Central Bank Governor Godwin Emefiele, after the later engaged in politics.
Buhari had told his Ministers and other cabinet members who showed interest in the forthcoming election to resign, but failed to extend the order to the CBN Governor.
Following the order, many of his cabinet members tendered their resignations.
However, in his comments to Bloomberg, the President said the Governing Board of the CBN has the power to determine if the governor erred or not.
“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,” Buhari told Bloomberg.