Opposition Labour Party has condemned President Bola Ahmed Tinubu-led administration for suspending Godwin Emefiele as the governor of the Central Bank of Nigeria (CBN), saying the top banker is paying for his mortal sin.

In a statement on Saturday, Obiora Ifoh, national publicity secretary of LP, explained that Bola Ahmed Tinubu does not have the constitutional backing to suspend Emefiele without seeking the permission of the national assembly.

“The leadership of the Labour Party is disturbed by the decision of President Bola Ahmed Tinubu to suspend/sack the governor of the Central Bank, Godwin Emefiele, albeit unconstitutionally without seeking the permission of the national assembly and we insist that the action was not in good taste and sounds punitive,” the statement reads.

The Labour party praised the embattled CBN governor for his role in redesigning Nigeria’s currency and reducing free flow of cash in circulation “primarily to check vote buying in the last general election.”

The party added further that Emefiele is being witch-hunted for his ‘mortal sin.’

“Most Nigerians will not forget in a hurry the famous naira redesign policy initiated by Emefiele primarily to check vote buying in the last general election,” Ifoh said.

“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. The Labour Party believes that Emefiele, a fall guy, is paying for his “sin”.

“It is laughable to read that statement as most 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 taxpayers’ money to conduct, the worst-ever election in the history of Nigeria and in Sub-Saharan Africa. This is an election umpire that has shamelessly chosen to be partisan during and after the election, even at the tribunal.

“Finally, we urge the APC-led government to carry out a thorough investigation of the CBN and particularly, the last APC government’s interference in the operation of the apex bank.

“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.”

Recall that the ex-CBN governor was suspended on Friday night and was later detained by the Department of State Services, DSS.

Emefiele is yet to comment on his suspension and eventual arrest as of the time of this report.