Tinubu Suspends Emefiele As CBN Governor

President Bola Ahmed Tinubu has suspended the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

The suspension which was confirmed in a statement on Friday by the Director of Information in the Office of the Secretary to the Government of the Federation OSGF (OSGF), Willie Bassey is with immediate effect.

Emefiele’s suspension as the CBN Governor is linked to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

Following the directive suspending him from office, Emefiele has been directed to hand over the affairs of the CBN to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of the investigation and the reforms.

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The statement reads: “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 conclusions of investigations and reforms.”