President Bola Tinubu Suspend The CBN Governor Emefiele.
– Ordered to hand over with immediate effect.
-Arrested by DSS.
Lucky Akra
The President of the Federal Republic of Nigeria,President Bola Ahmed Tinubu has ordered the immediate suspension of the Governor of the Central Bank of Nigeria (CBN),Godwin Emefiele from office.
The information was released by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey on Friday 9th of June,2023.
According to the president, Emefiele was suspended due to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.
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 read, “President Bola Tinubu has suspended the Central Bank Governor, Godwin Emefiele, 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.
“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.”
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.
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 depth.
According to report DSS has also arrested Emefiele,the arrest was reported shortly after President Bola Tinubu suspended him.
Prior to Emefiele’s suspension, the DSS, on December 7, 2022, in an exparte application with reference no: FHC/ABJ/CS/2255/2022, sought an order to arrest the CBN Governor.
The security agency accused Emefiele of financing terrorism, fraudulent activities and economic crimes of national security dimension.
The Chief Judge of the Federal High Court, Justice J.T Tsoho, however, refused to grant the application of the DSS saying,it is without the President approval.
