Following the rumour of his sack by President Muhammadu Buhari on Monday, the Central Bank of Nigeria (CBN) governor Godwin Emefiele on Tuesday said he was still in charge of the apex bank and that his tenure ends in June.
Speaking at a Cotton Value Chain stakeholders meeting at the CBN headquarters, Emefiele said he reported to work normally as he always did since sack news was fake.
He said he would continue to discharge his duties as expected of him.
A section of the online media was awash with news that Emefiele had been sacked, while two northerners had been shortlisted to replace him pending their clearance by the Senate.
Emefiele’s tenure expires on June 3, 2019 and many have begun jostling for the plum job.
Section 8 of the CBN Act of 2007 says a CBN governor can be 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.”
Emefiele is also qualified for a reappointment as the CBN governor based on the discretion of the president and the approval of the National Assembly for a fresh tenure of five years.
Section 10 of the CBN Act prescribes 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 re-appointment for another term not exceeding five years.”