JUST IN: President Tinubu Suspends Godwin Emefiele as CBN Governor

President Bola Ahmed Tinubu Suspends Central Bank of Nigeria Governor Godwin Emefiele Amid Ongoing Investigation and Planned Reforms

In a shocking development, President Bola Ahmed Tinubu has issued an immediate suspension of the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, from his position. This decision comes as a result of the ongoing investigation into his office and the planned reforms within the country’s financial sector.

A brief statement released by Willie Bassey, the Director of Information at the Office of the Secretary to the Government of the Federation, confirmed the suspension on Friday night. President Tinubu’s administration aims to address crucial issues within the financial sector and believes this action is necessary to facilitate the desired reforms.

As per the directive, Mr. Godwin Emefiele has been instructed to promptly hand over his duties to the Deputy Governor (Operations Directorate), who will assume the role of Acting Central Bank Governor until the investigation is concluded and the reforms are implemented.

President Tinubu’s stance on the naira swap policy has been evident since his inauguration, and he has repeatedly expressed his intention to review it.

It is worth noting that this is not the first time a CBN Governor has faced suspension. Back on February 20, 2014, President Goodluck Jonathan suspended Sanusi Lamido Sanusi, the immediate past CBN Governor.