Emefiele Says Goodbye to CBN Has Pres. Tinubu Suspends Him

 President Bola Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, from office with immediate effect.

Director, Information, in the Office of the Secretary to the Government of the Federation SGF, Mr Willie Bassey disclosed this in a statement issued Friday night in Abuja.

He said the decision was “sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy”.

“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”, the statement added.

Godwin Emefiele CFR (born 4 August 1961) is a Nigerian politician, economist and banker who served as governor of the Central Bank of Nigeria from 4 June 2014 until his suspension by President Bola Tinubu, on 9 June 2023.

In May 2022, Emefiele drew public outrage when it emerged that he was seeking to replace President Muhammadu Buhari in the 2023 presidential election. What started as a rumor when campaign posters of the bank chief flooded the capital city of Abuja soon gained breath when a group of alleged rice farmers purchased the presidential form of the All Progressive Congress for the CBN Governor. In a series of tweets via his verified account, Emefiele rejected the presidential form and declared he has no intention to contest. But in a quick twist, Emefiele filed a lawsuit at the Federal High Court in Abuja seeking an order from the court directing the electoral body and the office of the attorney general not to stop him from contesting the presidential position. The court stepped down the request but invited the duo to make a formal presentation on why Emefiele's request should not be granted.

Nigerians and the Civil Society Organisations have filed multiple cases in court demanding the removal of the CBN Governor and accusing him of violating multiple provisions of the Central Bank Act.