Tinubu Suspends Emefiele, Names Shonubi Acting CBN Governor

President Bola Tinubu has suspended Godwin Emefiele as the governor of the Central Bank of Nigeria (CBN).

The office of the secretary to the government of the federation (SGF) announced his suspension.

Willie Bassey, director of information, SGF office, in a statement issued on Friday, said the suspension is with immediate effect.

According to the statement, Emefiele is to transfer his responsibilities to the deputy governor, operations directorate.

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

“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.”

Folashodun Adebisi Shonubi, a deputy governor of the apex bank was subsequently appointed acting governor of the Central Bank of Nigeria (CBN) by the president.

The CBN deputy governor (operations) trained as a mechanical engineer, went into marketing, moved into information technology — and became a central banker.