Politics

Labour Party faults Emefiele’s suspension, urges Tinubu to probe INEC, not CBN

Published

2 years ago

June 10, 2023

LP spokesman Obiorah Ifo

Labour Party faults Emefiele’s suspension, urges Tinubu to probe INEC, not CBN

Labour Party (LP) has faulted the suspension of Godwin Emefiele as the governor of the Central Bank of Nigeria (CBN), urging President Bola Tinubu to investigate the Independent National Electoral Commission (INEC) and not the apex bank.

Tinubu had on Friday suspended Emefiele citing an “ongoing investigation of his office and the planned reforms in the financial sector of the economy”.

But in a Saturday statement by the LP spokesman Obiorah Ifo, the party faulted the move, claiming it was unconstitutional.

“It is laughable to read that statement as most Nigerians are already aware of the intention of the government. If 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?” the statement wondered.

“The leadership of the Labour Party is disturbed by the decision of President Bola Ahmed Tinubu to suspend/sack the Governor of the Central Bank, Godwin Emefiele, albeit unconstitutionally without seeking the permission of the national assembly and we insist that the action was not in good taste and sounds punitive,” the party added.

LP recalled the naira swap policy of the Emefiele-led CBN which it claimed hurt the political class, adding that the former apex bank governor was just the “fall guy” whose “sin” of doing the currency redesign must not be forgiven.

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It referenced a 2014 comment by the then-Minority Leader of the House of Representatives Femi Gbajabiamila which faulted ex-President Goodluck’s Jonathan removal of Sanusi Lamido as the CBN chief on the basis that the Nigerian leader had no such powers.

LP, however, wondered what changed now.

“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 statement read in part.

The Labour Party’s statement reads :
“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 leadership of the Labour Party is disturbed by the decision of President Bola Ahmed Tinubu to suspend/sack the Governor of the Central Bank, Godwin Emefiele, albeit unconstitutionally without seeking the permission of the national assembly and we insist that the action was not in good taste and sounds punitive.

Drawing inspiration from what Femi Gbajabiamila, then Minority Leader, had said years ago (as quoted above) over a similar situation when President Goodluck Jonathan sacked former CBN Governor, Sanusi Lamido Sanusi, wherein he questioned the powers of the President in sacking the CBN Governor. The opposition leader made it clear that the President lacks powers under the laws of the land to sack the CBN boss. One wonders what has changed between that time and now.

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Femi Gbajabiamila is the current Speaker of the House of Representatives and also holds the enviable portfolio as the Chief of Staff to President Tinubu. He had then 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.

Gbajabiamila because he was in the opposition at that time, he saw everything wrong with President Jonathan sacking Sanusi, today he is on the other side of the divide, he doesn’t see anything wrong with it. This is what Nigerians will face in the APC government, where perceived enemies are dealt with, perceive opposition parties and their 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”.

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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.”

It is laughable to read that statement as most Nigerians are already aware of the intention of the government. If 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.

Finally, we urge the APC led government to carry out a thorough investigation of the CBN and particularly, the last APC government’s interference in the operation of the apex bank. Nigerians will not tolerate political and peripheral investigation. We suggest a forensic auditing by an independent firm and by so doing, maybe the real culprits, not just Emefiele will be unearthed.”

Labour Party faults Emefiele’s suspension, urges Tinubu to probe INEC, not CBN

Related Topics:CBN Emefiele Featured INEC Labour Party

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Atiku says he’s not sure about contesting 2027 presidential election

Published

2 days ago

March 26, 2025

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Former Vice President of Nigeria, Alhaji Atiku Abubakar

Atiku says he’s not sure about contesting 2027 presidential election

Former Vice President Atiku Abubakar has said that he does not know if he will contest the presidency in 2027.

Atiku made the remark in a yet-to-be-aired interview for a television show, Untold Stories, with Adesuwa Giwa-Osagie, scheduled for broadcast today but exclusively obtained by Daily Trust.

The former presidential candidate of the Peoples Democratic Party (PDP) recently announced the formation of a coalition of opposition leaders to wrest power from President Bola Ahmed Tinubu in 2027.

However, there has been widespread speculation about who will lead the coalition and emerge as its presidential candidate, with former Labour Party presidential candidate, Peter Obi and former Kaduna State governor, Nasir El-Rufai, being considered among its key figures.

When asked if he would be running for the presidency in 2027, Atiku said: “I don’t know because there has to be, first of all, a viable platform, more than any other time in the political history of this country, particularly since the return of democracy.”

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Atiku, who has run for the presidency a record six times, did not rule out the possibility of contesting again in 2027.

“I have not seen Nigeria in dire need of, you know, an experienced and credible leadership than this time.

“We had a similar, you know, what would I say, merger in 2014. About four of us or is it three? We all ran for president and one of us emerged, and we all supported the one who emerged, and he won,” he said.

He agreed with former President Olusegun Obasanjo’s assertion that Nigeria’s democracy is deteriorating, saying the situation is “very dire.”

“No doubt about that,” he said.

Atiku also expressed his disappointment with the country’s political leadership.

“The next generation after me, many of them had been governors, had been senators. Instead of me to see an improvement in the level of governance at the state level and so on and so forth, I don’t see it. So I feel a little bit distressed.”

Atiku also questioned the credibility of the current legislative leadership, especially as it relates to the National Assembly’s ratification of the state of emergency in Rivers State

“I am not surprised,” he said, alleging that they are corrupt.

Atiku says he’s not sure about contesting 2027 presidential election

Politics

Africa’s democracy is govt by small for small number of people – Obasanjo

Published

3 days ago

March 25, 2025

Trends Admin

Africa’s democracy is govt by small for small number of people – Obasanjo

Former President Olusegun Obasanjo has advanced reasons for what he called abysmal failure of democracy in Africa.

According to him, African presidents work with a clique and wield enormous powers with little or no resistance from perpetuating illegalities and abuse of office.

The ex-President said the democracy being practised in Africa does not aligned with the people’s values, culture, and way of life.

Obasanjo said spoke on Monday at a colloquium in Abuja to mark the 60th birthday of Emeka Ihedioha, a former governor of Imo State.

The former Nigerian leader, who chaired the event, referencing Abraham Lincoln’s definition of democracy as “government of the people, by the people, for the people,” said the system should work for all citizens rather than a privileged few.

He however wondered if African countries are practising true democracy or only adopting Western Liberal democracy.

He said, “If you are talking about democracy failing in Africa, democracy in Africa has failed. And why has it failed?

“Because in context and in content, it is not Africa. It does not have any aspect of our culture, our way of life, what we stand for, what we believe.

“Today, we have democracy, which is the government of a small number of people, by a small number of people over a large number of people who are deprived of what they need to have in life. That is not democracy that will endure.

“It is ‘I am because I can grab.’ What sort of democracy brings you, and you grab everything and then illegally, corruptly, and you say go to court? When you know that even in the court, you cannot get justice.

“It’s not that democracy is failing, democracy is dying and if we are going to make democracy not to die, we have to look at democracy in the context and in the content of Africa. I hope that we will get to that stage so that democracy which will deliver will be the democracy that we will have in Africa.”

Obasanjo was Nigeria’s military ruler from 1976 to 1979 and democratically elected president from 1999 to 2007.

Politics

Atiku, Obi, El-Rufai’s coalition can’t unseat Tinubu – Shekarau

Published

5 days ago

March 23, 2025

Trends Admin

Mallam Ibrahim Shekarau

Atiku, Obi, El-Rufai’s coalition can’t unseat Tinubu – Shekarau

Former Kano State Governor, Ibrahim Shekarau, has cast doubt on the ability of a newly formed opposition coalition to unseat President Bola Tinubu and the ruling All Progressives Congress (APC) in the 2027 elections.

Shekarau described the alliance, which includes former Vice President Atiku Abubakar, Labour Party’s 2023 presidential candidate Peter Obi, and ex-Kaduna State Governor Nasir El-Rufai, as a gathering of individuals with personal political ambitions rather than a structured and unified opposition front.

His remarks came just two days after the coalition’s formation was announced, with the stated goal of challenging Tinubu’s administration.

In a statement by his spokesperson, Dr. Sule Yau, Shekarau remarked, “This is just a gathering of certain individuals with political ambitions; none of them has officially consulted their party leadership.”

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He further argued that a coalition featuring prominent figures does not necessarily equate to an effective political alliance.

“The coalition of opposition figures is a good development, as seen in their recent meeting under what they call an opposition alliance. However, none of the key figures involved represents their party leadership,” Shekarau stated.

Emphasizing the legal framework for political mergers, he pointed out that only registered parties could formally unite, making the recent gathering an informal arrangement rather than an officially recognized coalition.