The CBN Act mandates that the central bank be a fully autonomous body with the objective of promoting stability and continuity in economic management.
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Yesterday, the Nigerian Federal High Court in Abuja refused to grant Godwin Emefiele’s request to remain in office 30 days before the 2023 elections. Emefiele is the governor of the Central Bank of Nigeria, a position he has held since 2014. On 06 May, a spokesperson for Nigeria’s ruling party, the All Progressive’s Congress said that the governor had procured a presidential nomination form—pegged at N100 million Naira—from the party.
Emefiele had filed a lawsuit on 05 May, to prevent the Independent National Electoral Commission (INEC), and the attorney general of Nigeria, Abubakar Malami, from pressuring him to resign from his position in order to pursue his presidential ambitions. Yesterday, high court justice, Ahmed Ramat Mohammed, denied the request and ordered INEC and the attorney general to appear in court on May 12 to explain why the governor should not be allowed to remain in office.
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