Wealth Control And Its Influence On Power: Reasons Central Bank Governors Easily Get Into Trouble With Political Power
The Oasis Reporters
June 11, 2023
By Reno Omokri
@renoomokri
Central Bank governors control so much wealth, and wealth influences power. That is a reason no Central Bank of Nigeria (CBN) Governor in the last thirty years has left office unscathed.
Paul Ogwuma was almost arrested for the atrocities committed by General Sani Abacha and was asked to refund monies by the succeeding General Abdulsalami Abubakar administration.
Joseph Sanusi was denied a second term as CBN Governor by President Olusegun Obasanjo, a democratically elected leader after Nigeria almost defaulted on her foreign loans.
President Yar’adua almost fired Dr. Charles Soludo over the failed Naira redenomination policy and was subsequently not reappointed as CBN Governor.
Sanusi Lamido Sanusi was suspended for financial malfeasance (the same reason for his removal as Emir of Kano).
In the last thirty years, Godwin Emefiele has been the only CBN Governor reappointed for a second tenure. And what makes his case even more unique is that he was appointed by one President (Jonathan) from one party (PDP), and reappointed by another (Buhari) from a different party APC).
This is one other reason one must think twice before condemning Emefiele. He held an office that was literally the most sought after non-elective position in Nigeria.
There are lots of accusations against him and no evidence as of yet. A media trial by a mob will not get to the bottom of this issue.
If the Tinubu administration feels he has a case to answer, let him be charged to court and given the judicial and media space to defend himself.
Written by Reno Omokri
Reno Omokri is a social media activist and Influencer.
