There are hues and cries about the appointments made so far by the Tinubu administration particularly in the finance sector where the major roles have gone to the south west geopolitical zone. It is a matter of concern that the two key positions in the finance sector, the central bank of Nigeria (CBN) governor and the minister of finance have all gone to the south west geopolitical zone. This means that both the regulatory and fiscal policy decisions are now domiciled in one, out of six geopolitical zones- the south west geographical zone.
It is in this context that the need arises for an urgent reversal of this trend such that the governor of the central bank (CBN) and the minister of finance will come from different geopolitical zones.
Apart from the two key positions in the finance sector- the CBN governor and the minister of finance- the CEOs of the second and third highest revenue generating agencies are from the south west geographical zone. These other strategic roles in the finance sector held by the south west are:
1. Accountant- general of the federation
2. Chairman, federal inland revenue service (FIRS)
3. Comptroller- General Customs and excise
It is not debatable that the finance sector is the jugular of the nation and should not be seen to be controlled by one geopolitical zone at the exclusion of the others.
For checks and balances and to douse the current tension resulting from the outcry over the seeming lopsided appointments of the Tinubu administration, the current minister of finance should be redeployed to a different ministry and another cabinet member from any of the other five geopolitical zones appointed to take over as the minister of finance.
Section 14(3) of the constitution, federal republic of Nigeria 1999 (as amended) is clear, explicit and unambiguous on the need to reflect federal character and promote NATIONAL UNITY in the appointment of qualified Nigerians into government offices. This section of the constitution reads:
‘The composition of the Government of the Federation or any of its agencies and the conduct of its affairs shall be carried out in such a manner as to reflect the federal character of Nigeria and to promote national unity and also to command national loyalty, thereby ensuring that there shall be no predominance of persons from a few states or from a few ethnic or other sectional groups in that government or any of its agencies.’
The centrality of the central bank of Nigeria (CBN) and the ministry of finance to the Nigerian economy cannot be overemphasised hence it is highly expected that Mr President will exercise his prerogative and decouple this seeming hegemony of a particular section of the country on financial matters/revenue generation and assign the minister of finance role to another geopolitical zone while the south west retains the role of the CBN governor. This will promote inclusiveness and national unity as prescribed by the constitution, Federal Republic of Nigeria 1999 (as amended).
