Breaking News: President Tinubu Suspends Central Bank Governor Emefiele, Pending Investigation and Financial Sector Reforms

In a recent development, President Bola Ahmed Tinubu has taken decisive action by suspending Mr. Godwin Emefiele, CFR, from his role as the Governor of the Central Bank. This suspension comes into effect immediately, as part of the ongoing investigation into the operations of his office and the proposed reforms within the financial sector.


President Tinubu has directed Mr. Emefiele to promptly hand over the responsibilities of his office to the Deputy Governor (Operations Directorate), who will assume the role of Acting Central Bank Governor during the investigation and reform process.


This decision underscores the commitment of the government to ensure transparency, accountability, and efficiency in the financial sector. As the investigation progresses and reforms take shape, the government aims to strengthen the nation’s economic landscape.

Signed by

Willie Bassey

Director, Information

Office of the Secretary to the Government of the Federation

9th June 2023

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