President Tinubu Suspends Emefiele, Deputy Takes Over CBN

Nigerian President, Bola Tinubu has suspended the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

In a statement released by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey on Friday, Emefiele was suspended with immediate effect.

Reading in part, the statement said,
“President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr. Godwin Emefiele, CFR, from office with immediate effect.”

Continuing with the reason for the suspension, the statement said, “This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.”


In order to prevent a vacuum, the statement revealed 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.”

Godwin Emefiele has been in the eye of the storm since the Naira redesign that created hardship nationwide for several weeks.

Post Author: Dayo Emmanuel