A Federal High Court in Abuja denied the request of the Governor of the Central Bank of Nigeria, Godwin Emefiele, to prevent the Independent National Electoral Commission (INEC) and the Attorney General of the Federation, Abubakar Malami, from hindering his pursuit of the presidency.
Emefiele, through his attorney Mike Ozekhome (SAN), informed an Abuja court on Monday that he is eligible to run for president without resigning as CBN governor.
Ozekhome told the court that Section 84 ((12) of the Electoral Act, as amended in 2022, does not apply to Emefiele, who is a public servant and not a political appointee.
In its ruling, the court summoned INEC and the AGF to appear on May 12 to explain why the status quo ante bellum should not be granted to the CBN Governor.
The CBN governor had headed to the court in Abuja to seek a constitutional interpretation on his non-resignation while pursuing his political interests.
According to Section 9 of the CBN Act, 2007, the apex bank governor must not venture into any other vocation while in office and must resign in writing to the President if he nursed such intention.
It read, “The Governor and the Deputy Governors shall devote the whole of their time to the service of the bank and while holding office shall not engage in any full or part-time employment or vocation whether remunerated or not except such personal or charitable causes as may be determined by the Board and which do not conflict with or detract from their full-time duties…”
Sixty-year-old Emefiele was appointed the CBN governor in 2014 and has since remained at the apex bank. Under him, the naira has wobbled against the dollar and now exchanges at N560/$1 from around N150/$1 when he came into office.