Peoples Democratic Party (PDP) chieftain, Osita Chidoka has challenged President Bola Tinubu over the appointment of the new Central Bank of Nigeria (CBN) governor and his deputies.

This is contained in an open letter he wrote to the Minister of Justice and Attorney General of the Federation, Lateef Fagbemi (SAN).

The letter reads in part:

“Today’s crux of my letter is the gross violation of the CBN Act in appointing the new Central Bank Governor and the Deputies.”

“First, the CBN Act provides in S. 8 (2) That the Governor and Deputy Governors shall be appointed in the first instance for a term of five years and shall each be eligible for reappointment for another term not exceeding five years.”

“It added an important proviso, “Provided that, of the first four Deputy Governors to be so appointed, one shall in the first instance be appointed for three years and two shall in the first instance be appointed for four years.”

“The CBN Act prioritised experience and the need for continuity. The Senate (if they did) granting all four Deputy Governors a five-year term went beyond their powers.”

“But the more critical issue is why the President appointed four Deputy Governors in one go. Did the previous Deputy Governors resign, too, like the Governor?”

“As a senior legal practitioner and learned silk, my dear AG, I believe you will not lend your imprimatur to this creeping lawlessness. My suggestions: You can seek out the past Deputy Governors and get them to resign quietly before they seek to enforce their rights.”

“Also, ask the Senate to amend their clearance to reflect the provisions of S. 11 (4) so that the new CBN management would conclude the tenure of their predecessors.”

“That way, the government would also comply with the need for the Deputy Governors to exit the bank in a staggered manner to maintain continuity and experience.”