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.

https://dailytrust.com/2023-presidency-will-emefiele-resign-heres-what-the-cbn-act-says

ArewaNorth:
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.

https://dailytrust.com/2023-presidency-will-emefiele-resign-heres-what-the-cbn-act-says

Since you quoted the act, can you now tell us how this act affect Emefiele in all ramifications?

So which law is broken exactly?

Daily trust Na aboki newspaper, you the op too is aboki

gr8ofnnetwork:


Since you quoted the act, can you now tell us how this act affect Emefiele in all ramifications?

I didn't report the news, just created the thread to clear the doubt of the doubters about his candidacy

ArewaNorth:


I didn't report the news, just created the thread to clear the doubt of the doubters about his candidacy

Which doubt exactly did your thread clear? For goodness sake, what has the ACT your thread quoted got to do with the CBN Governor's political aspiration.
Be informed that the office of the President which the CBN Governor is aspiring for is an elected political office hence it's guided by the ELECTORAL ACT/LAW and not the CBN ACT.
You should have rather quoted provisions of the electoral act to clear the doubters. Thanks.

Chris Ngige must resign.

Roysnickz:

Which doubt exactly did you thread cleared? For goodness seek, what has the ACT your thread quoted got to do with the CBN Governor's political aspiration.
Be inform that the office of the President which the CBN Governor is aspiring for is an elected political office hence it's guided by the ELECTORAL ACT/LAW and not the CBN ACT.
You should have rather qouted provisions of the electoral act to clear the doubters. Thanks.

Electoral Act is silent about CBN Governor's position and only technicalities can clear that issue except using legal ruling on his candidacy. Emphasis is made on what CBN's Acts because most Nigerians know electoral Act's position on people holding political appointments.
FAQs drew the journalist's attention to publish the article and I'm very much sure many people are eager to know the side of CBN concerning his candidacy since they know the position of Electoral Act!