President Bola Ahmed Tinubu has suspended Mr. Godwin Emefiele, CFR, as Governor of the Central Bank of Nigeria (CBN) with “immediate effect.”

In a statement released on Friday, Willie Bassey, Director of Information for the Office of the Secretary to the Government of the Federation (SGF), announced the suspension on behalf of SGF George Akume.

In part, the statement reads, “This is a result of the ongoing investigation of his office and the planned reforms in the financial sector of the economy.”

“Mr Emefiele has been ordered to immediately turn over his office to the Deputy Governor (Operations Directorate), who will serve as Central Bank Governor until the investigation and reforms are completed.”

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