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Tinubu suspends Emefiele as CBN governor

PRESIDENT Bola Tinubu has suspended Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN).

“President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect,” the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey, said today in a statement.

He added, “This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of the investigation and the reforms.”

Emefiele has been in the eye of the storm since the ill-fated attempt to “redesign” the Naira in the run -up to the February elections. The drastic albeit controversial policy, which took many by surprise, created upsets in the national economy, and affected the fortune of many Nigerians, from which the country is yet to fully recover.

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