Emefiele suspended as CBN governor, to be investigated

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Godwin Emefiele, Governor of Central Bank of Nigeria, speaks at the Nigeria Capital Markets and Banking Forum. Chris J Ratcliffe / Bloomberg

Bola Tinubu has suspended Godwin Emefiele as the Central Bank of Nigeria (CBN) governor.

The suspension was contained in a statement by the office of the Secretary to the Government of the Federation signed by its director of information, Willie Bassey.

“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 the investigation and the reforms.”