CBN Governor, Godwin Emefiele, was suspended by President Tinubu yesterday and replaced by his deputy, Adebisi Sonubi.
The president issued a statement yesterday that read, “This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy”
He stated that Emefiele's position as the CBN governor should be probed, and a new reform should be put in place.
Emefiele's tenure is supposed to end in June 2024 as confirmed in 2019 by the former president Buhari. However, the dismissal of Emefiele as governor is not surprising because of the political ambitions against President Tinubu during the 2023 general elections.
Emefiele, after weakening Nigeria's exchange rates and forex market, said the news came as a shock to him and his associates are not clear about his next course of action.
The president issued a statement yesterday that read, “This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy”
He stated that Emefiele's position as the CBN governor should be probed, and a new reform should be put in place.
Emefiele's tenure is supposed to end in June 2024 as confirmed in 2019 by the former president Buhari. However, the dismissal of Emefiele as governor is not surprising because of the political ambitions against President Tinubu during the 2023 general elections.
Emefiele, after weakening Nigeria's exchange rates and forex market, said the news came as a shock to him and his associates are not clear about his next course of action.