Daud Olatunji
In a brewing confrontation, the Senate and President Bola Tinubu’s administration are at odds over the unconfirmed assumption of duty by Dr. Yemi Cardoso, the newly nominated Central Bank of Nigeria Governor, and his deputies.
Despite being announced by President Tinubu, Cardoso and his deputies commenced their roles at the CBN headquarters in Abuja without Senate confirmation.
President Tinubu, through his spokesperson Ajuri Ngelale, had unveiled Cardoso as the CBN governor-designate, along with four deputy governors, pending Senate approval.
However, Cardoso and his deputy governor nominees began their roles without Senate confirmation, as confirmed by the CBN’s Director of Corporate Communication, Dr. Isa AbdulMumin.
This move has drawn significant opposition from key economic stakeholders who question Cardoso’s academic qualifications, experience, and competence for the CBN governor position.
They argue that his nomination violates the CBN Act, which sets criteria for nominees to meet.
This development has caused tensions not only in the financial sector but also among Senators who assert that the executive branch is usurping legislative powers.
It raises concerns over the principle of separation of powers and highlights the need for proper procedures to be followed in key appointments.
As the conflict unfolds, the nation awaits resolution on whether Cardoso and his deputy governors can continue in their roles without Senate confirmation, sparking a debate on the importance of adherence to constitutional principles in Nigeria’s governance.
According to him, “The brouhaha over the new CBN nominees at the CBN is similar to what happened when the former EFCC chairman, Magu resumed office before the approval of his nomination by the National Assembly.
” The development, if you can recall, resulted in an imbroglio between the National Assembly and EFCC on one hand and with the Executive on the other hand. Magu’s nomination was eventually not confirmed throughout his tenure as EFCC chairman.
“So, the current situation between the National Assembly and the Presidency is just a rehash of the Magu case. This is not good for our democracy.
“The principle of the Separation of Powers as enshrined in the Nigerian constitution must be upheld at all times by the three arms of government. The Executive must not always violate this. They must ensure proper procedures are followed at all times in all they do.”
According to him, “The brouhaha over the new CBN nominees at the CBN is similar to what happened when the former EFCC chairman, Magu resumed office before the approval of his nomination by the National Assembly.
“The development, if you can recall, resulted in an imbroglio between the National Assembly and EFCC on one hand and with the Executive on the other hand. Magu’s nomination was eventually not confirmed throughout his tenure as EFCC chairman.
“So, the current situation between the National Assembly and the Presidency is just a rehash of the Magu case. This is not good for our democracy.
“The principle of the Separation of Powers as enshrined in the Nigerian constitution must be upheld at all times by the three arms of government. The Executive must not always violate this. They must ensure proper procedures are followed at all times in all they do.”
Also speaking on the development, President of an anti-corruption group, Coalition for Transparency and Economic Reforms (COTER), Dr Peter Chima Chukwu, said a clash at this time between the National Assembly and the Presidency over the resumption of the nominee for CBN governor and his deputies without confirmation by the legislature, would not be good for the country.
Chukwu wondered why the nominee for CBN governor and his deputies should hurriedly resume duty without waiting for the approval of the National Assembly.
He described this as an illegality on the part of the office in the Presidency which issued the order to Cardoso and his deputies to assume office without getting the necessary confirmation of their nominations and approval of the Senate first.
He said, “We just wonder why the nominee for CBN governor and his deputies were in a rush to resume duty. Why can’t they just wait for their confirmation and approval of the Senate? Why should they have to jump the gun?
“Since there’s still the principle of separation of powers enshrined in our constitution, this must be respected by the Presidency and President.
” There must be harmonious working relationship between the Executive and legislature for the country to move forward.
“We therefore call on President Tinubu to do the needful in this regard by giving the National Assembly it’s due regard and respect in this matter in the interest of the entire country.”
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