President Bola Tinubu has suspended the Central Bank Governor, Mr. Godwin Emefiele, from office with immediate effect.
The decision was announced through a terse statement issued 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 Mr. Emefiele is said to be a result of an ongoing investigation into his office and the planned reforms in the financial sector of the economy.
The statement did not provide further details regarding the nature of the investigation or the specific reforms being pursued.
As a consequence of his suspension, Mr. Emefiele has been instructed to promptly hand over the responsibilities of his office to the Deputy Governor (Operations Directorate).
The Deputy Governor will serve as the Acting Central Bank Governor during the duration of the investigation and the implementation of the proposed reforms.
This decision has stirred significant interest and speculation within the financial and political circles.
The Central Bank of Nigeria plays a crucial role in the country’s economy, and any changes in its leadership or operations can have far-reaching implications. It remains to be seen how this suspension will impact the financial sector and what specific reforms are being pursued.