President Bola Tinubu has taken the decision to suspend Godwin Emefiele from his position as the governor of the Central Bank of Nigeria (CBN), News About Nigeria reports.
According to a statement released on Friday by Willie Bassey, the Director of Information in the Office of the Secretary to the Government of the Federation, the suspension comes in light of an ongoing investigation into Emefiele’s office and the planned reforms in the financial sector.
As a result of the suspension, Emefiele has been instructed to immediately hand over the responsibilities of his office to Folashodun Adebisi Shonubi, the Deputy Governor in the Operations Directorate.
Shonubi will assume the role of the acting Central Bank Governor until the investigation and reforms are concluded.
This development comes as part of President Tinubu’s efforts to address and rectify issues within the financial sector of Nigeria’s economy.
The decision to suspend Emefiele reflects the government’s commitment to thorough investigations and necessary reforms in order to ensure transparency and accountability in the central bank.
The suspension of the Central Bank Governor sends a strong message regarding the seriousness with which President Tinubu regards the ongoing investigation and the need for reform.
It is evident that there are concerns and issues that require immediate attention in order to safeguard the integrity and stability of Nigeria’s financial sector.
During this period of investigation and reforms, it is expected that the Deputy Governor, Shonubi, will step into the role of the Central Bank Governor and fulfill the responsibilities associated with the position.
This temporary arrangement ensures that the central bank can continue its operations without any disruptions, maintaining stability in the financial system.
