President Bola Tinubu, yesterday, suspended Godwinfrom office as the Central Bank of Nigeria, CBN, governor with immediate effect.
A statement from the Office of the Secretary to the Government of the Federation disclosed that the suspension is “sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.”
Tinubu has been critical of the naira redesign policy and during his inauguration on Monday, May 29, he said his administration would review the policy.
He said, “Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.”
With Emefiele’s suspension, Folashodun Shonubi, the CBN Deputy Governor (Operations Directorate) was appointed the acting governor of the apex bank “pending the conclusion of investigation and the reforms.”
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