*The removal of the CBN Governor and the provision of Section 11(2) of the CBN Acts 2007*
✍️Olajengbesi OS
400 level law
Adeleke University
The suspension of the governor of the Central Bank of Nigeria is not a new a new topic again
While discussing the development with a colleague (**Adekunle Ayoola Jonathan, a 300-level law student at Osun State University), he raises the opinion that it’s was noncompliance with section 11(2) of the Central Bank of Nigeria Act 2007. At first I thought that if the removal as been ultra vires, there would have been objection and a lot of public outrage but then I decide to look at it from another point of view. The act made provision for Removal but not suspension
*The issue I raised from the discuss was “whether or not there is a distinction between suspension and removal and if such was provided In the act” *
Before attempting the issue let us take a look at the provision of the act on the appointment and removal of the governor Central Bank of Nigeria
The Central Bank of Nigeria Act of 2007 provides for the appointment, tenure, and removal of the Governor of the Central Bank of Nigeria.
According to Section 8(1) of the Act, the Governor of the Central Bank of Nigeria shall be appointed by the President of the Federal Republic of Nigeria, subject to the confirmation of the Senate.
Section 11(1) of the Act provides that the Governor of the Central Bank of Nigeria shall hold office for a term of five years, which may be renewed for another term of five years, subject to the approval of the President.
Section 11(2) of the Act provides for the removal of the Governor of the Central Bank of Nigeria from office. The Governor may be removed by the President for inability to discharge the functions of his office, whether arising from infirmity of mind or body or for any other cause, or misconduct.
However, before the Governor can be removed, the President must first obtain the recommendation of the Monetary Policy Committee and the approval of the Senate. The Act does not provide for the removal of the Governor by any other authority or body.
Back to the Question
Is there a distinction between suspension and removal provided for in the Act?
*Suspension from my research *
To “Suspend” means to debar, usually for a time, from the exercise of a function or a privilege specially to deprive temporarily of one’s office or again to interdict.
While Removal entails
This means disqualification only from present service and not future service, it also can mean dismissal.
Thus from the foregoing
The Central Bank of Nigeria Act of 2007 does not specifically provide for the suspension of the Governor of the Central Bank of Nigeria. However, Section 11(2) _SUPRA_
If the President has reason to believe that the Governor has committed an act of misconduct or is unable to discharge the functions of his office, he may initiate an investigation into the matter. The President may also, suspend the Governor pending the outcome of the investigation.
From my point of view, I would say the legislatures were intentional with the writing of the section
However, it is important to note that the Act does not provide for the suspension of the Governor as a separate disciplinary measure.
And I also think Any suspension of the Governor also needs to be under the provisions of the Act relating to the removal of the Governor and would require the approval of the Senate.
