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I would urge him to do so. The power conferred on CBN to intervene in a bank to remove the directors under section 34 of BOFIA 2020 is exercisable when the bank is in a “grave situation” and depositors’ funds are at risk. These are not the facts here. The CBN intervened in a boardroom disagreement or conflict in which the CEO was terminated. Bernard Longe’s case precedent shows that the recourse in a situation of unlawful termination is for the aggrieved CEO to seek legal redress and the remedy is not reinstatement but compensation. In my considered opinion, this was a clear case of abuse by the CBN of its statutory power to intervene. If a Board did not properly exercise its oversight function or made a bad business judgment by terminating the CEO, an employee of the bank, and not CBN, then other shareholders can convene an Extraordinary General Meeting to sanction the Board and even remove the Directors. The Regulator had no business intervening in this case. It was sheer authoritarianism and establishes a bad precedent. The concerned directors should seek legal redress.😇