Ebun-Olu Adegboruwa, a senior
advocate of Nigeria (SAN), says the removal of Muiz Banire as chairman of the
Asset Management Corporation of Nigeria (AMCON), is illegal.
Banire, who was appointed
chairman of AMCON in 2018, was replaced with Edward Adamu on Tuesday.
This followed the implementation
of the new AMCON law by President Muhammadu Buhari. The law states that the
chairman of the corporation must be a deputy governor of the Central Bank of
Nigeria (CBN).
Buhari has since sent the name of
Adamu to the senate for confirmation.
But in a statement, Adegboruwa
said the senate has no right to confirm Adamu as chairman of AMCON as Banrie remains the chairman, “according to
the provisions of the law”.
“Dr Muiz Banire, SAN had not
completed his tenure when the President purported to have appointed another
chairman for AMCON,” he said.
“The amendment of the AMCON Act
does not automatically dissolve the existing board or extinguish the offices
previously created or already existing prior to the amendment.
“Under and by virtue of section 6
(1) (b) of the Interpretation Act, the repeal of an enactment “shall not affect
any right, privilege, obligation or liability accrued or incurred under the
enactment.”
“When a law is amended or
repealed, there is a presumption of preservation of all things done under the
previous law. By law, Dr Muiz Banire, SAN, is still the chairman of the board
of AMCON.
“The Senate cannot in law confirm
the purported appointment of another chairman for AMCON when the existing
Chairman has not exhausted his tenure or be removed according to law.”
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