In a significant development, President Bola Tinubu has taken the decision to suspend Mr. Godwin Emefiele, the Central Bank Governor, from his position with immediate effect.

This decision has been made public through a statement issued on Friday night in Abuja.

The announcement was made by Mr. Willie Bassey, the Director of Information in the Office of the Secretary to the Government of the Federation (SGF). Bassey revealed this crucial information, shedding light on Tinubu’s decision to suspend Emefiele from his role as the Central Bank Governor. The statement provides no further details regarding the reasons behind the suspension or any accompanying circumstances.

He said the decision was “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 added.