Godwin Emefiele, CBN Governor

Citing an ongoing information of his office and the need to reform the financial sector, President Bola Ahmed Tinubu, on Friday suspended Godwin Emefiele, the governor of Central Bank of Nigeria, CBN from office with immediate effect.

The suspension of the CBN Governor was announced in a statement by signd by Willie Bassey, Director of Information, for the Secretary to the Government of the Federation on Friday

According to the statement, the CBN Governor was suspended because of an ongoing investigation of his 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.

“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,” the statement said.

He has been replaced with immediate effect with  Folashodun Adebisi Shonubi, Deputy Governor, Operations of the Central Bank of Nigeria (CBN) as the acting Governor.

Folashodun Adebisi Shonubi,now Acting CBN Governor

Before Emefiele could vote with his feet, he was picked up the DSS. Before the new government came in, the former CBN governor had a case with the security agency but he could not be arrested.

Now, his trouble continues.