Just-In: President Tinubu Suspends CBN Governor

By David Peter
The Office of the Secretary of the Government to the Federation, Senator George Akume has acknowledged the discontinuance of the Central Bank Governor, Mr. Godwin Emefiele with an immediate effect.

The press statement was released by the Director of information, Mr. Willie Bassey on Friday night. 

It reads, "President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect." This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy."

"Mr. Emefiele has been 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 the investigation and the reforms," ended.

Although the President has no power single-handedly to "sack" a sitting governor, his power allows him to suspend the governor pending the approval of such a decision by the legislature. 

ABUJA Blog had earlier reported that the suspended CBN Governor initially instigated a cashless policy 30 days before the Presidential election that inflicted tingles on the citizens due to the lack of adequate cash. Recall also that several attempts were made by Bola Ahmed Tinubu to cushion the effect but all efforts proves abortive and the restriction seem futile after the presidential election. 

However, at this time filing the report by our correspondent, no reason feasible reason was issued for the suspension of the Central Bank Governor by Mr. President. 

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