Labour Party said the suspension of the Central Bank of Nigeria (CBN) governor Godwin Emefiele by President Bola Ahmed Tinubu is unconstitutional.
The party also stated that the suspension was without the permission of the National Assembly, describing it as punitive.
The LP in a statement by acting National Punlicity Secretary Obiora Ifoh, recalled that the outgoing Speaker of the House of Representatives Femi Gbajabiamila, had objected when former President Goodluck Jonathan suspended Sanusi Lamido Sanusi as CBN governor.
Gbajabiamila, then Minority Leader of House of Representatives, according to the LP, said the president lacks powers under the laws to sack the CBN governor.
“One wonders what has changed between that time and now,” the party stated.
It noted that Gbajabiamila who has been appointed Chief of Staff to President Tinubu, had then argued that the law requires the President to seek the approval of two third of the Senate to be able to sack the CBN governor.
According to the party, the Speaker had argued that the law is doctrine of checks and balances to avoid the abuse of powers by the president, “while at the same time guaranteeing the autonomy of the CBN.
“But under Gbajabiamila’s watch, Emefiele was fired in a most unconstitutional and vindictive manner.
“It is only in Nigeria that we find people that approbate and reprobate at the same time. People say one thing from one side of their mouth and another from the other side, especially when it favours them politically and otherwise.
“That explains why the country is in shamble: no rule of law, no equity, no justice, and no fair play. People don’t follow standard rules and procedures. That is why every aspect of our live, be it our economic, political and social live, is challenged.
“Gbajabiamila because he was in the opposition at that time, he saw everything wrong with President Jonathan sacking
Sanusi. Today he is on the other side of the divide; he doesn’t see anything wrong with it.“This is what Nigerians will face in the APC government, where perceived enemies are dealt with, perceive opposition parties and their members are dealt with, even when they are protected by the law.”
LP stated that the naira redesign policy, which it believed Emefiele is being punished, was to check vote buying in the last general election.
It described the naira redesign as a noble policy “which a particular candidate then unfortunately believed was targeted at him. To him, it was a mortal sin which cannot be forgiven and must be punished. Labour Party believes that Emefiele, a fall guy, is paying for his ‘sin.'”
The LP faulted the claim by the government that Emefiele’s suspension was based ongoing investigation of his office and the planned reforms in the financial sector of the economy, describing it as laughable.
“Nigerians are already aware of the intention of the government.
“If indeed, there is any government agency that should be investigated with this utmost urgency, should it not be the Independent National Electoral Commission (INEC) and its Chairman, Prof. Mahmood Yakubu?
“This is the institution that is responsible for the mockery of our democracy. This is an institution which asked and received N355 billion in tax payers money to conduct, the worst ever election in the history of Nigeria and in sub Saharan Africa.
“This is election umpire that has shamelessly chosen to be partisan during and after election, even at the tribunal,” the party said.
It urged the APC-led government to investigate the interference of the APC in the operations of the CBN.
“Nigerians will not tolerate political and peripheral investigation. We suggest a forensic auditing by an independent firm and by so doing, maybe the real culprits, not just Emefiele will be unearthed,” the party demanded.
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