President Tinubu Suspends Emefiele

President Bola Tinubu has removed 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,” said Willie Bassey, Director of Information at the Office of the Secretary to the Government of the Federation, in a statement on Friday.

“This is in response to the ongoing investigation of his office and the planned reforms in the economy’s financial sector.”

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