What if Emefiele Decides to Run?

Nseobong Okon-Ekong writes that speculations that Central Bank of Nigeria Governor, Godwin Emefiele may enter the 2023 presidential race is generating more than a passing interest

It would perfectly be within his constitutionally guaranteed right to aspire for the office of the President of Nigeria, should Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) so decide. But why is this particular ambition of his couched in phrases and wrapped in axioms? It is simple, his principal still has need of him.

Emefiele is not alone in this quagmire. Other members of the Buhari cabinet who are rumoured to harbour interest in succeeding the president are similarly encumbered by Section 84 (12) of the Electoral Act 2022, which is still in contention by many of the parties that may be affected. Section 84(12) states, “No political appointee at any level shall be voting delegates or be voted for at the Convention or Congress of any political party for the purpose of the nomination of candidates for any election.”

A couple of excellent players in the Buhari cabinet are known to be nursing presidential ambition. Out of respect, largely, for the president and the wait for an opportune time, they have, thus far, kept it to themselves. Not less than five ministers may be angling for Buhari’s job at the head of the Federal Executive Council table.

Arguably, Emefiele is the most strategic and important link between the administration of former President Goodluck Jonathan and that of President Muhammadu Buhari, having assumed office in 2014, one year before Jonathan’s exit and remaining thus far with Buhari. He has not only provided the fiscal bulwarks, but the needed stability to bring governance back from the brink on a good number of times.

While Emefiele has not expressly said he will enter the 2023 presidential race, various groups have adopted the same tactics of endorsements and ‘call to service’ used to persuade the likes of Transportation Minister Rotimi Amaechi, Minister of Niger Delta Affairs, Senator Godswill Akpabio and Governor Yahaya Bello of Kogi State. So, Emefiele too is “being drafted” into the contest for Nigeria’s highest public office.

One of the key players in the Buhari team, Emefiele may be considered for his ability to continue the economic consolidation project of this administration, while enduring the health and stability of the Nigerian economy. A key objective of the Buhari cabinet to lift 100 million Nigerians out of poverty may send the opposition political parties into an extended session of laughter, but this is one of the key pursuits that an Emefiele presidency would be expected to continue.

Under Emefiele, for the first time in the history of Nigeria, the CBN has altered the perception of the bank in the mind of key players in different sectors of the economy. With a clear agenda to empower more Nigerian entrepreneurs to grow their investment, there is hardly any sector of the economy that the CBN has not touched. From oil and gas, hospitality, telecommunications, construction, agriculture, energy to real estate, Emefiele has pursued policies that have been favourable to many Nigerian businessmen.

One of the many thankful beneficiaries of the current CBN leadership’s economic policies which seek to put control of sectors of business in the hands of Nigerians is Mr. Moses Ayom, a successful businessman who is emerging as the new face and voice for the Middle-belt. Ayom whose business interest is linked to China talks glowingly about Buhari and Emefiele for giving him the opportunity to join the Federal Government’s trade delegation to China where his company was guaranteed over USD100 million. Ayom is also a Presidential aspirant on the platform of the All Progressives Congress (APC).

Another big achievement of the Buhari administration, if it succeeds, in holding what is generally agreed as a free and fair election in which Emefiele emerges as president, is that it would be considered to have finally brought a closure to the enduring hurt and distrust arising from the Nigerian Civil War. Emefiele is from the Igbo-speaking part of Delta State. Having him as President of Nigeria will address the long drawn agitation for a Nigerian president of Igbo extraction.

However, opponents of Emefiele claim that he may have been given an undue advantage. They want him to resign immediately if indeed he wants to enter the 2023 presidential race. Now that the Independent National Electoral Commission (INEC) has announced dates for the next cycle of national elections, it would be best to allow Emefiele the liberty to make up his mind within the time allowed by the relevant laws.