President Bola Tinubu has taken the decision to suspend Godwin Emefiele from his position as the governor of the Central Bank of Nigeria (CBN).

The suspension was announced by Willie Bassey, the Director of Information in the Office of the Secretary to the Government of the Federation, through a statement on Friday.

The action was taken as part of an ongoing investigation into Emefiele’s office and in light of planned reforms in the financial sector.

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Emefiele has been instructed to immediately hand over his responsibilities to the Deputy Governor (Operations Directorate), who will assume the role of Acting Central Bank Governor until the investigation and reforms are concluded.

More details later…