Ex-aviation minister, Chidoka tackles Tinubu’s administration over CBN Governor, deputies’ appointment

Ex-aviation minister, Chidoka tackles Tinubu’s administration over CBN Governor, deputies’ appointment

 The former Minister of Aviation, Osita Chidoka, has raised
concerns over how the new Central Bank Governor and his deputies were brought
into office.

 

He alleged a gross violation of the CBN Act in the
appointment by President Bola Tinubu’s administration.

 

He said, “The growing lawlessness and Gestapo tactics the
government was deploying to achieve its objectives would deepen the damage the
immediate past administration did to the country”.

 

Chidoka’s statement was in an open letter to the Minister of
Justice and Attorney General of the Federation, Mr Lateef Fagbemi, SAN.

 

He advised the Minister to take a second look at removing
from office persons who ought to enjoy independence and require Senate approval
before removal from office.

 

He wondered why the President appointed four Deputy
Governors in one go, asking if the previous Deputy Governors resigned like
Godwin Emefiele, the former Governor.

 

According to him, “the CBN Act prioritized experience and
the need for continuity, noting that the Senate went beyond their powers by
granting all four Deputy Governors a five-year term, if actually it did.”

 

He claimed that the development had become a bad precedent
and an indication of the high disregard for rules that were becoming the
administration’s hallmark.

 

Chidoka said the CBN Act provides that the Governor and
Deputy Governors shall be appointed in the first instance for a term of five
years and shall each be eligible for reappointment for another term not
exceeding five years.

 

He further suggested that the AGF seek out the past Deputy
Governors and get them to resign quietly before they enforce their rights.

 

He was also of the view that the minister should ask the
Senate to amend their clearance to reflect the provisions of S. 11 (4) so that
the new CBN management would conclude the tenure of their predecessors.

 

According to him, by doing so, the government would also
have complied with the need for the Deputy Governors to exit the bank in a
staggered manner to maintain continuity and experience.

 

Part of the letter read: “Today’s crux of my letter is the
gross violation of the CBN Act in appointing the new Central Bank Governor and
the Deputies. First, the CBN Act provides in S. 8 (2) That the Governor and
Deputy Governors shall be appointed in the first instance for a term of five
years and shall each be eligible for reappointment for another term not
exceeding five years. It added an important proviso, “Provided that, of the
first four Deputy Governors to be so appointed, one shall in the first instance
be appointed for three years and two shall in the first instance be appointed
for four years.” The CBN Act prioritised experience and the need for
continuity. The Senate (if they did) granting all four Deputy Governors a
five-year term went beyond their powers. But the more critical issue is why the
President appointed four Deputy Governors in one go. Did the previous Deputy
Governors resign, too, like the Governor?

 

“As a senior legal practitioner and learned silk, my dear
AG, I believe you will not lend your imprimatur to this creeping lawlessness.
My suggestions: You can seek out the past Deputy Governors and get them to
resign quietly before they seek to enforce their rights. Also, ask the Senate
to amend their clearance to reflect the provisions of S. 11 (4) so that the new
CBN management would conclude the tenure of their predecessors. That way, the
government would also comply with the need for the Deputy Governors to exit the
bank in a staggered manner to maintain continuity and experience.”

Source: Ex-aviation minister, Chidoka tackles Tinubu’s administration over CBN Governor, deputies’ appointment

 - NigerianEye
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