Kingsley Moghalu Slams CBN Governor, Godwin Emefiele Over Presidential Ambition

A presidential aspirant of the African Democratic Congress (ADC), Kingsley Moghalu has lambasted the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over his presidential ambition.

Moghalu Condemns Emefiele’s Involvement In Politics

KanyiDaily recalls that the CBN Governor had recently obtained the N100 million presidential nomination forms to contest the 2023 presidency on the platform of the ruling All Progressives Congress (APC).

On Monday, May 9, Emefiele approached the Federal High Court in Abuja to request an order which would allow him to run for president without resigning his position as the CBN governor.

Reacting to the development, Moghalu described Emeifele’s involvement in politics while in office as a massive breach of Section 9 of the CBN Act which makes it clear that the governor and the deputy governor are not allowed to engage in any other employment or vocation.

The presidential aspirant, who spoke while picking up the expression of interest form at the ADC secretariat in Abuja on Tuesday, accused the CBN governor of using the public office to attain his personal interest, urging Nigerians not to reward such an act.

Moghalu said, “I weep for this nation with the development at the CBN. It is deeply wrong to play politics while in office. It is a violation of ethics, morals and the law. What we are seeing is the privatisation of public office for personal gains.

“The CBN act is clear. Section (9) states that the CBN Governor and his Deputy should not engage in other employment or vocation. A vocation is something that could take up your time, it may not be a job, it may not be something you could put your hands on, but something that you have your mind and heart in apart from your duties.

“For the CBN Governor, his heart and mind are in politics up to the extent of going to a law court to seek support for his ambition.

“First of all, I want to say Nigerians have no business in rewarding this massive breach of the rule of law because the action of the CBN governor shows contempt of the rule of law.

“The individual in question has been monumentally incompetent and Nigerians should not support incompetence.”

Moghalu said Emefiele should be held responsible for the rising inflation in the country, noting that the CBN was statutorily responsible to guard against inflation and not the president.

He said, “Inflation is a very serious issue. If you have high inflation in a sustained manner the way we have it, it is a performance failure of the CBN because the President does not manage inflation.

“Statutorily, it is the function of the CBN. And under the CBN act, CBN is supposed to be independent. When I was the deputy governor of CBN between 2009 and 2014, we were able to bring inflation from double-digit down to eight percent before we left office. Now inflation is around 16 percent.”

KanyiDaily recalls that the Independent National Electoral Commission (INEC) had also warned of serious implications should Godwin Emefiele proceed with his presidential ambition.