BREAKING: Tinubu suspends Emefiele as CBN governor with immediate effect

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

A statement by George Akume, the Secretary to the Government of the Federation signed by William Bassey, the director of information, noted that the suspension will allow for investigation of Emefiele.

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 investigation and the reforms.

Chronicle NG reports that the House Of Reps Committee is investigating Emefiele over an alledged missing 48 million barrels Of Bonny Light Crude.

Emefiele is also expected to give account of N32.5bn paid to two companies without documentation or records.