By Godfrey AKON
President Bola Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, from office with immediate effect.
The suspension was announced on Friday in a statement By the Director of Information, Office of Secretary to the Government of the Federation, Willie Bassey.
The statement noted that the suspension 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 said.
Recall that earlier in the year, the embattled CBN governor introduced a naira redesign policy which limited circulation of the naira notes and caused unprecedented cash crunch in the country.
The naira redesign policy was widely misconstrued as a state-sponsored effort to prevent Tinubu from winning the 2023 election.