Forces against the reappointment of Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN) have stepped up pressure on the Senate to reject his confirmation, with APC former Deputy National Publicity Secretary, Timi Frank urging the Economic and Financial Crimes Commission (EFCC) to open investigations into Emefiele’s tenure at the CBN, in line with President Muhammadu Buhari’s anti-graft campaign. Frank said the Senate would be doing the nation a great disservice if it reconfirms Emefiele given the humongous amount of money allegedly missing from the apex bank under his watch.
Under pressure, the Senate referred the executive communication for the confirmation of the appointment of Emefiele as CBN Governor to its Committee on Banking for further legislative action. At the resumption of plenary Tuesday, Senate president, Bukola Saraki referred the request to the Senate Committee on Banking, Insurance and other Financial Institutions headed by Senator Adebayo Ibrahim, for a thorough screening, before reporting back to the Senate within seven days.
The President had last Wednesday written to the Senate President, seeking the approval of the upper legislative chamber for the re-appointment of Emefiele for another five-year term as CBN Governor. The president, in the letter, noted that Emefiele’s first term would expire June 2 and sought confirmation of his reappointment, pursuant to the provisions of Section 81(2) of the CBN Act 2007.
No sooner, a babel of opposition voices from individuals and civil society organizations informed the Senate of their opposition to Emefiele’s reappointment. A whistleblower, George Uboh, filed a lawsuit in federal court, challenging the president’s decision to extend Emefiele’s appointment. Uboh, a financial recovery agent, wants the court to revoke the letter of Emefiele’s reappointment, pending resolution of a case of misappropriation against the CBN governor to the tune of $2.5 billion allegedly missing from CBN coffers.
In the suit before the Federal High Court, Abuja division, Uboh said the president could not ask the Senate to confirm Emefiele’s reappointment when a matter challenging Emefiele’s stewardship at the apex bank had not been decided. The court has granted an ex-parte motion for Emefiele to be served notice of the case against him through the CBN legal department, after he reportedly evaded service.
Online reports have also emerged alleging that Emefiele, his Deputy Edward Lametek Adamu, Director for Finance Dayo Arowosegbe and an adviser to the CBN Governor, Emmanuel Ukeje, were caught on tape discussing how to cover up a N500 billion loss. The CBN has since denied that the tapes of the discussion between Emefiele and other officials had anything to do with plans to shortchange the apex bank over a failed investment in Dubai. In a statement, CBN Director of Corporate Communications, Isaac Okoroafor insisted that no money was missing at the apex bank.
The release of the audiotapes appeared to have been timed to coincide with the Senate’s opening of Emefiele’s confirmation proceedings, giving more ammunition to critics like former APC Deputy National Publicity Secretary, Timi Frank, who insisted that Emefiele has a case to answer. In a statement, Frank said Emefiele must come clean on this audio, and sundry issues bordering on corrupt practices under his watch. “I am happy with the dispatch with which the CBN responded to the leaked audio conversation. However, I did not expect anything less than the denial. It is trite that ‘one cannot be a judge in his own case’. Therefore, let the relevant agencies of government as well as the National Assembly investigate these allegations with great in-depth.
“If the CBN is saying the beginning of the conversation was omitted, can they provide Nigerians with the full and authentic audio conversation in the interest of transparency and good governance?” he queried.
Frank said: “I implore the CBN governor to defend these allegations by himself as he remains a public servant and therefore answerable to the Nigerian people. Anything short of this will amount to a cover-up. I hereby call on the Senate to stand for Nigeria as they have always done.
“The Senate must not play with the mandate of Nigerians by attempting to confirm Emefiele in the face of this damning allegation. Any attempt to do that will amount to the Senate being complicit in the matter.” He urged the EFCC to investigate the allegation with the same zeal demonstrated in its current probe of Saraki. “I hope the president will not defend Emefiele as he did in the case of Governor Abdullahi Umar Ganduje of Kano State,” Frank also said.
Unofficial hints from the Senate Committee on Rules and Business in charge of scheduling issues for debate and consideration on the Senate floor indicate that, if and when Emefiele’s confirmation is scheduled on the Order Paper for discussion, some lawmakers are angling for the screening to be done by the general Senate without passing it to any standing committee.
Buhari meanwhile met behind closed doors with the CBN governor at the Presidential Villa yesterday.
Emefiele was seen walking hurriedly towards the president’s office at noon. He left about 10 minutes later without speaking to reporters. In photographs released by the Personal Assistant to the President (Photography), Sunday Aghaeze, the President and Emefiele were seen shaking hands and smiling in the President’s office. Monday’s visit was the first by the CBN governor since his nomination for another five-year term by the President.
