CBN Act goes thus: CESSATION OF CBN GOV OFFICE Disqualification and cessation of appointment. (1) A person shall not remain a Governor, Deputy Governor or Director of the Bank if he is- (a) a member of any Federal or State legislative house; or (b) a Director, officer or employee of any bank licensed under the Banks and Other Financial Institutions Act. (2) The Governor, Deputy Governor or Director shall cease to hold office in the Bank if he- (a) becomes of unsound mind or, owing to ill-health, is incapable of carrying out his duties; (b) is convicted of any criminal offence by a court of competent jurisdiction except for traffic offences or contempt proceedings arising in connection with the execution or intended execution of any power or duty conferred under this Act or the Banks and Other Financial Institutions Act; (c) is guilty of a serious misconduct in relation to his duties under this Act ; (d) is disqualified or suspended from practising his profession in Nigeria by order of a competent authority made in respect of him personally; (e) becomes bankrupt; (f) is removed by the President: Provided that the removal of the Governor shall be supported by two-thirds majority of the Senate praying that he be so removed. (3) The Governor or any Deputy Governor may resign his Office by giving at least three months’ notice in writing to the President of his intention to do so and any Director may similarly resign by giving at least one months’ notice in writing to the President of his intention to do so. (4) If the Governor, any Deputy Governor or Director of the Bank dies, resigns or otherwise vacates his Office before the expiry of the term for which he has been appointed, there shall be appointed a fit and proper person to take his place on the Board for the unexpired period of the term of appointment in the first instance if the vacancy is that of- (a) the Governor or a Deputy Governor, the appointment shall be made in the manner prescribed by section 8 (1) and (2) of this Act; and (b) any Director, the appointment shall be made in the manner prescribed by section 10 (1) and (2) of this Act. The purported removal of the Governor of the Central Bank is a continuation of the atrocious illegalities perpetrated by the present administration. From Salami to the serial acts of infamy imposed on the people of Rivers State and now to Sanusi, one can say without any fear of equivocation that the cup of illegalities of this administration is full. If we don’t act now, we don’t know whose turn it would be next. We must challenge the desecration of the laws of our country by its Chief custodian. The Senate must view the so-called suspension of the Governor for what it is: a naked usurpation of its powers and privileges. There is no room for illegal removal of the Governor through the back door.
Posted on: Sat, 22 Feb 2014 04:51:05 +0000
Trending Topics
Recently Viewed Topics
© 2015