Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN), is reportedly being held in custody by the Department of State Services (DSS).

The suspension was announced by Willie Bassey, a Director in the Office of the Secretary to the Government of the Federation, as part of a planned reform of the financial sector.

Mr. Folashodun Adebisi Shonubi has been appointed as the acting Governor of the CBN.

ALSO READ: Nigerians demand Governor Emefiele’s arrest and removal in fresh protests at Central Bank headquarters

According to credible sources, Emefiele’s suspension is linked to various factors, including his recent involvement in the naira swap and cashless policy, which reportedly disrupted the circulation of money in the country and posed a threat to the 2023 general elections.

It is also suggested that the DSS, Economic and Financial Crimes Commission (EFCC), and other financial regulatory agencies are investigating Emefiele.

A source confirmed that Emefiele is currently undergoing interrogation in DSS custody.