Read reasons Tinubu suspended Emefiele, installed deputy as interim governor

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President Bola Tinubu has suspended the Central Bank Governor, Godwin Emefiele, from office with immediate effect.

According to a statement issued by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey, The suspension comes as a result of an ongoing investigation into Emefiele’s office and the planned reforms in the financial sector.

In the statement, Bassey explained that the decision to suspend the CBN governor was made in light of the investigation and the need for reforms in the financial sector. As a result, Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), Adebisi Sonubi.

The deputy governor will assume the role of the Central Bank Governor on an interim basis while the investigation and reforms are underway.

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