The All Progressives Congress (APC) on Tuesday revealed why the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele can not be sanctioned by the party for disobeying the verdict of the Supreme Court.
In the last two months, the policy of the apex had generated tension and hardship across the country.
The development saw some governors of the APC file a suit against Emefiele and President Muhammadu Buhari at the Supreme Court.
The Supreme Court ruled that the old N200, N500 and N1,000 notes should be allowed to co-exist with the new one until December 31.
The apex court further held that the President’s directive on the redesign of the new notes without due consultation was invalid.
CBN, however, for days failed to act on the verdict of the Supreme Court.
The National Publicity Secretary of APC, Felix Morka in an interview with Punch said even though Emefiele was one of the presidential aspirants of the party, the decision to hire or fire him rests with the President.
He said, “Emefiele was hired by the president and he serves at the pleasure of the president. So no one person or a group of persons even in the party has the authority to hire and fire the CBN governor. That is the exclusive prerogative of the president.
“The president has its power as constituted by law and under the CBN Act as well. As I earlier said, everything concerning the hiring and firing of the CBN governor rests with the president. The position of the party on that is irrelevant. He decides as he chooses.”