President Bola Ahmed Tinubu of Nigeria has sacked the country apex bank Governor, Godwin Emefiele over ongoing investigation in the Central Bank of Nigeria, CBN.

Willie Bassey, the Director, Information
in the office of the Secretary to the Government of the Federation, in a statement few minutes ago indicated that the President suspended the CBN governor from office to enable full scale investigation into the activities surrounding his office as CBN governor and the financial reforms initiated by the governor.

Sources close to Presidency said the suspension was a diplomatic and democratic way to sack the CBN governor from office. Godwin Emefiele was appointed by the then President Goodluck Ebele Jonathan. He remained in office and served through out the eights years of President Muhammadu Buhari.

Willie Bassey in the statement said the President directed Godwin Emefiele to hand over the affairs of his office the Deputy Governor incharge of Operations with immediate effect.

The statement reads in quote: “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”.

It would be recalled that one of the planned financial reforms in the Economy sector initiated by Godwin Emefiele, was Naira redesign and cashless policy which resorted to Naira scarcity in the month of February 2023.

Many businesses suffered setbacks as a result of the Naira scarcity. Many Nigerians groaned until the Supreme Court of Justice ruled and ordered the continuous use of the old ₦1000, ₦500, ₦200 notes till December 31, 2023 when the new Naira notes must have been in wider circulation.

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