President Bola Ahmed Tinubu has suspended the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, from office with immediate effect.
Emefiele’s suspension was announced by the office the secretary to the government of the federation (SGF).
Willie Bassey, Director of information in SGF office in a statement on Friday night, said that Emefiele is to transfer his responsibilities to the deputy governor, operations directorate.
“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.”
During his campaign, Tinubu had criticized the failed naira redesign policy implemented by Emefiele under Buhari’s administration.
On his inauguration day, he maintained that the policy “was too harshly applied by the CBN given the number of unbanked Nigerians.
“The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender”.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.