Tinubu suspends Emefiele

Central Bank of Nigeria CBN Governor Godwin Emefiele
Godwin Emefiele

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

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

“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’s suspension follows his controversial naira redesign policy which many in the ruling political party, the All Progressives Congress, believe was aimed at spoiling Tinubu’s chances at the February 25 presidential poll.