Labour Party demands INEC investigation instead of CBN

The Labour Party on Saturday described as unconstitutional the suspension of the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, by President Bola Tinubu.

The president on Friday night suspended Emefiele to pave the way for the investigation of his activities in office and reform in the nation’s financial sector.

However, in a statement issued in Abuja by its National Publicity Secretary, Obiorah Ifo, the party demanded the immediate investigation of the Independent National Electoral Commission (INEC) and its chairman, Prof. Mahmood Yakubu, over the commission’s alleged poor handling of the last general election.

The LP lamented that Emefiele has been fingered as the “fall guy” who must be punished at all costs for implementing the redesign of the naira notes.

The party faulted the president’s decision to suspend the CBN governor without recourse to the National Assembly.

The statement read: “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 N355 billion in taxpayers’ money to conduct, the worst-ever election in the history of Nigeria and in Sub-Saharan Africa. This is an election umpire that has shamelessly chosen to be partisan during and after the election, even at the tribunal.

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“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.

“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 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.

“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.”

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