In a recent development, President Bola Tinubu has taken the decision to suspend Godwin Emefiele, the Governor of the Central Bank, effective immediately.

The announcement came through a statement released by Willie Bassey, the Director of Information at the office of the Secretary to the Government of the Federation, on Friday night.

The suspension of the CBN Governor is a result of an ongoing investigation into his office and the planned reforms within the financial sector of the economy, as stated in the official statement. In light of this, Mr. Emefiele has been instructed to hand over his duties to the Deputy Governor (Operations Directorate) promptly. The Deputy Governor will assume the role of Acting Central Bank Governor until the investigation and reforms are concluded.

This decision has raised significant interest and speculation regarding the nature of the investigation and the potential impact on the country’s financial landscape. As the situation develops, further updates will provide insight into the reasons behind the suspension and the implications it may have for the Nigerian economy. Stay tuned for the latest developments on this matter.