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Federal Reserve Boss, Lisa Cook, Dares Trump over Sack
President Donald Trump, on Monday, removed Dr. Lisa D. Cook from her position on the Board of Governors of the United States Federal Reserve, citing alleged false statements on mortgage documents and loss of public trust.
Cooks was appointed by then-President Joe Biden in 2022. She is the first African American woman to serve in the role.
In a formal letter dated August 25, 2025, Trump invoked his authority under Article II of the U.S. Constitution and the Federal Reserve Act of 1913, declaring Cook’s removal “effective immediately.”
According to the letter, the decision followed a criminal referral submitted on August 15, 2025, by William J. Pulte, Director of the Federal Housing Finance Agency, to U.S. Attorney General Pamela Bondi.
The referral alleged that Cook signed conflicting mortgage agreements—one in Michigan and another in Georgia—each claiming to be for her primary residence within overlapping timeframes.
Trump argued that the alleged actions demonstrated gross negligence in financial transactions and undermined Cook’s integrity and competence as a financial regulator.
The statement read: “Pursuant to my authority under Article II of the Constitution of the United States and the Federal Reserve Act of 1913, as amended, you are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately.
“The Federal Reserve Act provides that you may be removed, at my discretion, for cause. See 12 U.S.C. § 242. I have determined that there is sufficient cause to remove you from your position.
“As set forth in the Criminal Referral dated August 15, 2025, from Mr. William J. Pulte, Director of the Federal Housing Finance Agency, to Ms. Pamela Bondi, Attorney General of the United States (“Criminal Referral”) (attached to this letter as Exhibit A), there is sufficient reason to believe you may have made false statements on one or more mortgage agreements.
“For example, as detailed in the Criminal Referral, you signed one document attesting that a property in Michigan would be your primary residence for the next year. Two weeks later, you signed another document for a property in Georgia stating that it would be your primary residence for the next year. It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both.”
“The executive power of the United States is vested in me as President and, as President, I have a solemn duty to ensure that the laws of the United States are faithfully executed. I have determined that faithfully executing the law requires your immediate removal from office,” the statement added.
But Cook insisted the president lacked the authority to dismiss her and vowed not to resign, setting the stage for what could become a landmark legal battle over presidential power and the Federal Reserve’s independence.
“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.”
The convention produced the Tanimu Turaki-led factional national executives of the party.
Attention has shifted to the Supreme Court, which has fixed April 30 (today) for judgment in the leadership tussle within the African Democratic Congress (ADC).
A five-member panel led by Justice Mohammed Garba will resolve the appeal filed by the David Mark-led faction concerning the authentic leadership of the party.
Also on Thursday, the court is expected to determine the leadership dispute rocking the Peoples Democratic Party (PDP).
Two PDP factions—one led by Kabir Turaki and the other by the Minister of the Federal Capital Territory, Nyesom Wike—are laying claim to the leadership of the party.
The Supreme Court had on April 22 reserved judgment in the ADC crisis to a date to be communicated to the parties involved in the tussle.
However, on Tuesday, the ADC formally wrote to the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, pleading for the quick delivery of judgment in the leadership tussle at the national level.
The party claimed it would suffer irreparable harm if judgment in the protracted battle was not delivered within the period allowed by the Electoral Act for fielding candidates for the 2027 general elections.
It stated in part: “Without the delivery of judgment within the next three days from the date of this letter, the ADC stands the grave and irreversible risk of being excluded from participating in the 2027 general elections.
“This would disenfranchise millions of Nigerians who have subscribed to the ideals of the ADC and deny them their constitutional right to freely associate and contest elections through a political party of their choice.”
At the April 22 hearing, Jibrin Okutepa, SAN, who represented David Mark, urged the Supreme Court to allow the appeal, arguing that the apex court had earlier, on March 21, 2025, held that “no court has jurisdiction to entertain matters bordering on the internal affairs of political parties.”
During the hearing, Okutepa urged the apex court to hold that the Federal High Court in Abuja lacked jurisdiction to entertain the suit.
However, Robert Emukperu, SAN, who represented the first respondent, Nafiu Gombe, urged the court to dismiss the appeal and affirm the judgment of the lower court, which held that the suit was premature.
It will be recalled that a three-member panel of the Court of Appeal dismissed Mark’s appeal, ruling that it was premature and filed without leave of the trial court.
In the PDP matter, the first appeal, marked SC/CV/164/2026, stems from a decision of Justice Peter Lifu of the Federal High Court in Abuja, who restrained the party from proceeding with its planned convention pending the determination of a suit filed by former Jigawa State Governor Sule Lamido.
On November 14, the court issued a final order restraining the PDP from conducting its national convention.
Justice Lifu held that Lamido was “unjustly denied” the opportunity to obtain a nomination form to contest for national chairman, in violation of the PDP constitution and internal regulations.
The Court of Appeal later upheld the decision on March 9, prompting the PDP to appeal.
The second appeal, SC/CV/166/2026, was filed by the PDP, its National Working Committee (NWC), and National Executive Committee (NEC).
It arose from a judgment delivered by Justice James Omotosho, which stopped the party from holding its Ibadan national convention.
The Court of Appeal upheld that decision, agreeing that INEC should not validate the outcome of the convention.
After hearing all arguments, the Supreme Court reserved judgment, stating that the date would be communicated to the parties.
Former President Olusegun Obasanjo has lambasted the administration of President Bola Tinubu over insecurity bedeviling the country.
In an interview with News Central, Obasanjo said any government that cannot protect lives and property of its citizens has no basis to exist.
The former leader was reacting to the recent wave of insecurity, which has confronted Nigeria, resulting in the killing of several citizens and abduction of others.
“Let me tell you, the government that cannot give security of life and property of its citizen has no right of existence.
“The elected members of our National Assembly have no right to fix their own salary and their own emolument.
“It’s not in our constitution for them to do that. It’s the revenue mobilization and allocation commission that should do it,” he said.
