Emefiele: President Tinubu Suspends CBN Governor

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

The office of the secretary to the government of the federation headed by George Akume announced his suspension on Friday.

The statement signed by Willie Bassey, the Director of Information, said the suspension is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), Folashodun Adebisi Shonubi.

This is the second time a CBN Governor has been suspended in Nigeria.

In 2014, the then President Goodluck Ebele Jonathan suspended Emir Sanusi Lamido Sanusi.

The statement reads, "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."