ABUJA, Nigeria – President Bola Tinubu has announced the immediate suspension of the Central Bank of Nigeria, CBN, Governor, Godwin Emefiele.
In a statement released on Friday, June 9, 2023, by Willie Bassey, the Director of Information, Office of the Secretary to the Government of the Federation, it was stated that the suspension is related to an ongoing investigation of Emefiele’s office and the planned reforms in the financial sector of the economy.
“President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr. Godwin Emefiele, CFR, from office with immediate effect,” Bassey said in the statement.
He further stated that “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 decision has been made amid plans to implement reforms within Nigeria’s financial sector. The full details of the ongoing investigation have not been disclosed.
This sudden suspension puts the focus on the Central Bank’s governance and policies.
As the investigation continues, the financial sector will closely watch how these events unfold and how they may impact the economic environment in Nigeria.
