President Tinubu Suspends Central Bank Governor, Godwin Emefiele

By: Ogunleye Oluwapelumi

President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect. The announcement was made by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey, in a statement released on Friday. The suspension is in line with 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. The move has sparked reactions from Nigerians, with many expressing concern over the timing of the suspension and the impact it may have on the economy.

The Central Bank of Nigeria is one of the most important institutions in the country, and the governor plays a crucial role in the management of the economy. The suspension of Mr Emefiele is expected to have far-reaching implications for the country’s financial sector, and many are calling for transparency and due process in the ongoing investigation.