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Presidential Form: PDP demands Emefiele’s sack, arrest, prosecution for alleged abuse of office

The Peoples Democratic Party (PDP) has demanded the sack, arrest, and prosecution of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele over the abuse of office and financial impropriety.

Recall that Emefiele was alleged to have purchased the All Progressives Congress (APC) 2023 Presidential Expression of interest and nomination forms recently.

The PDP National Publicity Secretary, Debo Ologunagba who addressed a Press Conference on Saturday in Abuja drew the attention of Nigerians to the provisions of the CBN Act 2007 and particularly referenced Section 9.

Ologunagba argued that the CBN Governor and the Deputy Governors are expected to devote the whole of their time to the service of the bank and while holding office, and are not expected to engage in any full or part-time employment or vocation, whether remunerated or not.

PDP National publicity who described CBN as critical to the integrity and stability of Nigeria’s economy explained that Section 030422 of the Public Service Rule states that no public officer shall (a) “hold any office, paid or unpaid, permanent or temporary, in any political organization (b) offer himself/herself or nominate anyone else as a candidate for any elective public office. (c) indicate publicly his support of or opposition to any party, candidate or policy and (d) engage in canvassing in support of political candidates unless such officer resigns his appointment.

“Importantly, Section 030502 (g) of the Rule lists engaging in partisan political activities as a serious act of misconduct, ” Ologunagba stated.

PDP national publicity secretary also insisted that Emefiele’s involvement in politics without resigning as CBN Governor amounts to gross misconduct in contravention of Section 11 2 (2)(c) of the CBN Act.

He emphatically stated that Emefiele cannot continue to resume at the CBN which is the commonwealth of our nation.

He said “by this, Mr. Emefiele has become a clear and present danger to the health, integrity and reputation of the CBN and our nation’s financial sector. His continued stay as CBN Governor will further destroy investors’ confidence in the integrity of our nation’s financial regulatory Institution.

Mr. Emefiele’s involvement in partisan politics while still holding office as CBN Governor underpins the impunity, lawlessness and recklessness of the Muhammadu Buhari-led APC administration. It further confirms that the CBN under Emefiele has all along been the finance department of the APC.


It is now evident that the summersault of the economy under Mr. Emefiele as CBN Governor has been influenced by a personal partisan interest for which the CBN under his watch allegedly allowed multiple leakages in our financial regulations through discriminatory exchange rate policies and nebulous subsidies to funnel billions of naira to political lackeys to fund a presidential ambition”.

According to Ologunagba this also explains why under Emefiele, the CBN which is supposed to be the bankers’ bank continues to engage in alleged fraudulent retail banking services under ill-defined economic intervention programmes.

The opposition party also alleged that the macro-economic and fiscal policies of the CBN under Emefiele brought untold hardship to the productive and service sectors of the nation’s economy with a consequential negative effect on the lives of our citizens.

Ologunagba described as provocative that instead of being remorseful, Emefiele is insulting the sensibilities of Nigerians by seeking the office of the President while still holding office as CBN Governor.

He said it is indeed saddening that President Muhammadu Buhari, who promised zero tolerance for corruption will enable, encourage and condone such an atrocious regime in the CBN.

Ologunagba said the party stands with Nigerians in demanding “the immediate arrest, investigation and prosecution of Emefiele by security and anti-graft agencies, particularly the Economic and Financial Crimes Commission (EFCC) for alleged financial malfeasance and abuse of office in the CBN under his watch”.

He called on all Nigerians; the Civil Society, Students, Organized Labour, the Media and all lovers of good governance to rise to defend the integrity of the CBN, Rule of Law and ensure that those who brought Nigeria’s economy to its knees face the wrath of the law.




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