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Tinubu Suspends CBN Gov, Emefiele

By Gloria Afajagbe

President Bola Tinubu has ordered the immediate suspension of the Central Bank of Nigeria (CBN), Governor, Godwin Emefiele from office.

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The Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey disclosed this in a statement on Friday.

Bassey explained that the suspension of the CBN governor was based on an ongoing investigation as well as planned reforms in the financial sector.

He added that Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), pending the conclusion of the investigation and the reforms.

The statement partly read, “President Bola Tinubu has suspended the Central Bank Governor, Godwin Emefiele, from office with immediate effect.

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“This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

“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 the investigation and the reforms.”

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Recall that the Federal High Court in Abuja, on Tuesday, summoned Emefiele, over a $53 million judgement debt arising from the Paris Club refunds.

The presiding judge, Inyang Ekwo, mandated that the court will not hear Emefiele’s motion for stay until he appears before it.

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Emefiele was initially invited to appear before it on January 18, 2023, to explain his refusal to obey a valid order for payment of a $70m debt.

The CBN governor allegedly only released $17 million, leaving $53 million in unpaid debt.

Ismail Aniemu

Ismail Aniemu, Publisher of JournalNG and ghost writer, is a maritime journalist of over two decades' of practice with multidisciplinary background. He holds a masters degree in Transport Management from Ladoke Akintola University of Technology(LAUTECH) with bias for logistics. He is also an alumnus of the Times Journalism Institute where he obtained a post graduate diploma in Journalism. Email: ismail.aniemu@aol.com

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