You may recall that the Central Bank of Nigeria, CBN governor, Godwin Emefiele, was inherited by President Muhammadu Buhari's administration.

Emefiele had been appointed in June 2014 by former President Goodluck Jonathan to replace Sanusi Lamido Sanusi who was suspended by Jonathan for blowing a whistle on mismanaged funds by his government.

It had been thought that President Buhari would pick a new CBN governor on assumption of office, but that wasn’t the case, as Emefiele has held the reins at the apex bank until now.

So, while appearing as a guest on a local radio station, 95.1 Wazobia FM on Tuesday (November 13th) in Lagos, Vice President Yemi Osinbajo gave reasons why the government was unable to let Emefiele go.

He said: “The first thing is to say there are two major problems. One of them is that if you want to remove any central bank governor, the process of removing him is a long process. You cannot just sack him," implying that the government may have contemplated it.

Also Read: Emefiele Reveals What Really Brought Nigeria Out Of Recession

Osinbajo also said another issue was that the government could not establish any involvement of the CBN governor in the missing money allegations beyond obeying instructions to release funds.

“The other thing is that a lot of what we have seen that monies was missing, sometimes if they write to say bring money over, when the money comes, what is the money used for is always the problem.

“And that is always the problem once money is released from the CBN. If we see that the CBN governor is involved with the misappropriation of the released fund is a different thing. But the problem was, they were taking money away from the CBN, there was no account of what they were used for. It is the tracing of that money that has led us to where we are now (in the fight against corruption),” Osinajo explained.

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