BREAKING: Tinubu Suspends Emefiele as CBN Governor

The Nigerian President, Bola Ahmed Tinubu, has suspended the Central Bank Governor, Mr Godwin Emefiele, from his post and ordered an investigation into his time in office.

This was disclosed through a press release by Willie Bassey, the Director, Information, and Secretary to the Government of the Federation this evening.

According to the statement, the move was necessitated by the ongoing investigation and a need to revamp the financial sector of the country.

The press release reads:

OFFICE OF THE SECRETARY TO THE GOVERNMENT OF THE FEDERATION

PRESS RELEASE

PRESIDENT TINUBU SUSPENDS EMEFIELE FROM OFFICE AS CENTRAL BANK GOVERNOR

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 investigation and the reforms.

Willie BasseyDirector, Information

For: Secretary to the Government of the Federation
9th June, 2023.

Recall Emefiele earned the ire of many due to the Naira redesign policy which caused hardship in the nation.