Why CBN Governor, Godwin Emefiele should be arrested, prosecuted

Why CBN Governor, Godwin Emefiele should be arrested, prosecuted

An investigative medium, PREMIUM TIMES, has called for the arrest and prosecution of the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele over the lingering naira crisis.

In an editorial titled: ‘CBN, the rule of law and Nigerian democracy,’ the online medium faulted the apex bank for failing to adhere to the ruling of the Supreme Court on the old naira notes.

It noted that the cash withdrawal limit imposed by the central bank is an infringement on the rights of the people

The editorial also questioned why the Federal Government and the CBN were yet to make official move to enforce the order of the supreme court.

The Nation reports the Supreme Court gave its verdict directing that the old N1,000 and N500 notes circulate side by side with the new ones till December 31.

It said: “PREMIUM TIMES has made several calls for Mr Emefiele to be relieved of his office,” the newspaper said in the editorial. “These calls were premised on growing doubt as to his fitness for office. If we took the CBN’s main price stability remit as our point of departure, Mr Emefiele’s incompetence is incontrovertible.

“This is as much about the outcomes of his policy, and as the Supreme Court’s ruling points to, as it is about the thoughtlessness that goes into his policy design.

“However, rule breaking is why we would want Mr Emefiele to be arrested and tried. We cannot build a democracy on the back of impunity and illegality. But there is also the charge of economic sabotage. If the first is criminal. The second is treasonous.

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