FEATURED
2023: What CBN Act Say About Emefiele’s Presidential Bid – To Resign Or Not?
After months of speculation, Governor Godwin Emefiele of the Central Bank of Nigeria (CBN) joined the 2023 Presidential race, obtaining the forms of the All Progressives Congress (APC).
Prior to Friday, the CBN governor neither confirmed nor denied his interest in succeeding President Muhammadu Buhari.
However, there have been calls on him to step down because of the position that he holds.
The discussion has generated mixed reactions. To take the conversation further, Daily Trust checked the CBN Act.
According to the Act,
– (1) A person shall not remain a Governor, Deputy Governor if he is –
(a) A member of any Federal or State legislative house; or
(b) A Director, officer or employee of any bank licensed under the Banks and Other Financial Institutions Act.
(2) The Governor, Deputy Governor or Director shall cease to hold office in the Bank if he –
(a) becomes of unsound mind or, owing to ill health, is incapable of carrying out his duties;
(b) is convicted…
(d) is disqualified or suspended from practicing his profession in Nigeria by order of a competent authority made in respect of him personally: (e) becomes
(0)
Bankrupt;
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.
RESIGNATION
The acts states that the Governor or any Deputy Governor may resign his office by giving at least three months’ notice in writing to the President of his intention to do so and any Director may similarly resign by giving at least one month’s notice in writing to the President of his intention to do so.
It adds that if the Governor, any Deputy Governor of Director of the Bank dies, resigns or otherwise vacates his office before the expiry of the term for which he has been appointed, there shall be appointed a fit and proper person to take his place on the Board for the unexpired period of the term of appointment in the first instance.
(Daily Trust; excluding headline)
Oborevwori Breaks Ground For $70m Olam Agri Feed Mill In Delta, 450,000 Tonnes Poultry Feed Annually
Oborevwori Celebrates Jim Ovia At 75, Hails Zenith Bank Founder As Visionary
US Midterm: What Democrats’ Win Means for Tinubu, APC and Nigeria’s 2027 Election
Uzere Oil Spill: Isoko South Chairman Commends Oborevwori for Swift Medical Intervention
OPINION: OCHEI’S DEBATE CHALLENGE IS STILL OKOWA’S SHOW, BY NORBERT CHIAZOR
DSS Releases 4 Suspected IPOB Members, Pays N20m Compensation
Police Rescue Nigerian Woman Sold For ₦770,000 In Mali, Arrest 3 Suspects
EFCC Arraigns Man Over Alleged N238.3m Fraud in Lagos
EFCC Uncovers Chinese-Operated Illegal Oil Refinery in Ogun, Recovers Diesel
Afreximbank, Benin Showcase Industrial Zone Turning Raw Cotton to Finished Garments for Global Brands
Alibaba Powers First Youth Olympic Games in Africa with Cloud, AI for Dakar 2026
Isoko Endorses Tinubu, Oborevwori for 2027, Confers Orhuerevwo, Ododo Titles on Governor, Wife
US Property Records Show Ex-Finance Minister Zainab Ahmed Acquired $765k Maryland Home 6 Months After Leaving Office — Report
Ondo Police Raid Fake Dollar Factory, Arrest Suspect, Recover Three Bags of Notes
OKOWA’S ACHIEVEMENTS AS DELTA GOVERNOR: EDUCATION, HEALTH, INFRASTRUCTURE, BY SIR CHURCHILL AJUSAH
