Senior attorney and human rights advocate Mr. Clement Nwankwo claims that the suspension of Central Bank of Nigeria Governor Godwin Emefiele was inevitable given the impolite way in which he managed the Apex bank.
“Emefiele’s suspension was not unexpected.” “As a lawyer, I am very concerned about due process and about following the constitution in doing this,” Nwankwo stated on Channels Television’s Sunday Politics.
“Everyone knows that Mr Emefiele was going to come to a sad ending because of the way he had managed the Central Bank because of the lack of professionalism he exhibited in his work and because he really crossed the boundaries of professionalism.
“So, it was quite clear that he was going to be out of the CBN, the question was when and who would do it.”
He, however, expressed concerns with the process of Emefiele’s removal which he said contravened the provisions of the CBN Act.
“What is really disappointing is that when you look at the laws that established the Central Bank, there are provisions for removing a central bank governor.”
Nwankwo stated that there is no doubt that removing the central bank governor is a welcome development but it should be done with due process as the president does not have the powers to suspend the CBN governor.
He berated the Senate, which he said had the power to remove the CBN governor long before now, for failing in its oversight function. The lawyer said he looks forward to seeing how the incoming 10th Senate handles the situation.
Nwankwo also aligned with Senior Advocate of Nigeria, Femi Falana, who said the Department of State Services (DSS) should prosecute Emefiele for alleged terror financing and transfer him to the Economic and Financial Crimes Commission for alleged money laundering and other economic-related allegations.