President Tinubu Suspends Emefiele As Governor of the Central Bank of Nigeria

President Bola Ahmed Tinubu on Friday approved the suspension of the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele.

This was contained in a terse statement from the office to the Secretary to the Federal Government which stated that the suspension was with immediate effect.

The statement which was signed by Willie Bassey, Director of Information in the SGF’s office explained that the development was sequel to an ongoing investigation of his office and the planned reforms in the financial sector of the economy.

Emefiele was accordingly directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), Mr. Folashodun Adebisi Shonubi pending the conclusion of investigation and the reforms of the financial sector.