President Bola Tinubu Unveils Reasons for Godwin Emefiele’s Suspension as CBN Governor

In a recent interactive session with Nigerians residing in France and neighboring European countries, President Bola Tinubu shed light on the factors behind his decision to suspend Godwin Emefiele as the Governor of the Central Bank of Nigeria (CBN).

During the discussion, President Tinubu expressed grave concern about the country’s financial system under Emefiele’s leadership, labeling it as deeply flawed. He specifically highlighted the system’s enabling of illicit financial activities by a privileged few, while Nigerians in the diaspora encountered hurdles in sending money back home due to multiple exchange rates.

However, President Tinubu reassured the audience that these issues are now a thing of the past, as those responsible have been apprehended and are in the custody of law enforcement agencies.

“The financial system was in a deplorable state, with a handful of individuals siphoning off our wealth, leaving our impoverished parents without the support they deserved. Multiple exchange rates worsened the situation. But that era has come to an end,” President Tinubu asserted.

Furthermore, President Tinubu stressed that appropriate measures are being taken to address the situation, affirming, “The individual in question is now under the custody of the authorities, and steps are being taken to rectify the situation. They will sort it out.”

On June 9, President Bola Tinubu took the decision to suspend Godwin Emefiele from his position as CBN Governor. Shortly thereafter, the Department of State Services (DSS) apprehended Emefiele while he was attempting to flee the country via a land border.

Emefiele is now faced with several charges, including allegations of sponsoring terrorism.