BREAKING: Tinubu suspends CBN Governor, Emefiele

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

The Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey, disclosed this in a statement on Friday night in Abuja.

He said the suspension of the CBN governor took immediate effect.

Emefiele came under scathing criticism from Nigerians over the apex bank’s poor handling of the redesign of the naira notes during former President Muhammadu Buhari’s administration.

The policy caused untold hardship in the country before the Supreme Court intervened in March and extended the validity of the old naira notes till December 31.

READ ALSO:Tinubu promises house cleaning in Emefiele’s CBN

The president also directed Emefiele to transfer his responsibilities to the Deputy Governor in charge of operation pending the conclusion of the investigation into his activities in office.

The statement read: “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.”

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