… Suspension Unconstitutional, Vindictive, Not in Good Taste
 
 
BY MYKE UZENDU, ABUJA
 
 
The leadership of the Labour Party has expressed reservations over the decision of President Bola Ahmed Tinubu to suspend and investigate the Governor of the Central Bank, Godwin Emefiele, albeit unconstitutionally without seeking the permission of the national assembly.
 
LP said that the suspension of Emefiele is laughable explaining that “if there indeed, there is any government agency that should be investigated with this utmost urgency, should it not be the Independent National Electoral Commission, INEC and its Chairman, Prof. Mahmood Yakubu? This is the institution that is responsible for the mockery of our democracy. This is an institution which asked and received N355bilion in tax payers money to conduct, the worst ever election in the history of Nigeria and in Sub Saharan Africa. This is election umpire that has shamelessly chosen to be partisan during and after election, even at the tribunal”.
 
The opposition party, in a statement on Saturday by its Acting National Publicity Secretary, Obiora Ifo insisted that the action was not in good taste and sounds punitive.
 
The party supported its position with quotes by the former Speaker of the House of Representative and now Chief of Staff to President Ahmed Bola Tinubu thus: “Mr President has the right to ask the CBN governor to resign, same way, Nigerians have the right to ask him or anyone to resign. However, he does not have the powers to do so. Having a right is one thing, having the power is another. Many have asked Mr President to resign but lack the powers to compel him to do so,” Femi Gbajabiamila, The minority leader of the House of Representatives, January 13, 2014
 
The party said that Hon. Gbajabiamila, then Minority Leader, when a similar situation occurred when President Goodluck Jonathan sacked former CBN Governor, Sanusi Lamido Sanusi, made it clear that the President lacks powers under the laws of the land to sack the CBN boss.
 
The party argued that “the law requires the President to seek the approval of two third of the Senate to be able to sack the CBN Governor. Reasons being essentially to enforce the doctrine of Checks and Balances and to avoid the abuse of powers of a capricious and arbitrary President, while at the same time guaranteeing the autonomy of the CBN. But under Gbajabiamila’s watch, Emefiele was fired in a most unconstitutional and vindictive manner.
 
“It is only in Nigeria that we find people that approbate and reprobate at the same time. People say one thing from one side of their mouth and another from the other side, especially when it favours them politically and otherwise. That explains why the country is in shamble: no rule of law, no equity, no justice, and no fair play. People don’t follow standard rules and procedures. That is why every aspect of our live, be it our economic, political and social live, is challenged” LP lamented.
 
The party alerted that the above scenario is what Nigerians should expect in the APC government, where perceived enemies  and opposition members are dealt with even when they are protected by the law.
 
“Most Nigerians will not forget in a hurry the famous Naira redesign policy initiated by Emefiele primarily to check vote buying in the last general election. A noble policy which a particular candidate then unfortunately believed was targeted at him. To him, it was a mortal sin which cannot be forgiven and must be punished. Labour Party believes that Emefiele, a fall guy, is paying for his “sin”.
 
 
The government said the suspension of Emefiele is “sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.”
 
The party urged the APC led government to carry out a forensic auditing and independent investigation of the CBN by an independent firm adding that Nigerians will not tolerate political and peripheral investigation.