Tinubu sacks Emefiele, orders him to hand over to his deputy

President Bola Tinubu has suspended the Central Bank of Nigeria Governor, Godwin Emefiele.

The president also directed Emefiele to hand over operations to the deputy governor, Mr Folashodun Adebisi Shonubi who will be acting as the central bank governor pending the conclusion of investigation and the reforms in the financial sector.

The suspension takes immediate effect, according to the statement by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey on Friday night.

“President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, from office with immediate effect,” the government said in a statement.

“This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy”, the statement said.