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Friday, July 12, 2024
HomeCorruptionTinubu Suspends CBN Governor, Godwin Emefiele

Tinubu Suspends CBN Governor, Godwin Emefiele

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been suspended with immediate effect.

Emefiele was suspended by President Bola Ahmed Tinubu on Friday.

In a terse statement by the Director, Information Office of the Secretary to the Government of the Federation, Willie Bassey, “President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect.”

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

Emefiele was 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 development is coming less than two weeks after President Tinubu assumed office and months after the CBN’s heavily-criticized naira swap.

On Tuesday, the Federal High Court in Abuja 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.

READ ALSO: 57 Suspects Arrested For Looting In Kano

Emefiele was in 2022 invited to appear before the court 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.

In another development, an Ogudu Magistrates Court in Lagos on Friday granted a teenager, Lekan Wasiu, a bail of N500,000 after he was arraigned for attempted theft.

Wasiu, a 19-year-old, was dragged to court for attempting to steal a GAC SUV car. The accused, a mechanic who resides in the Bolar of Ajah area, however, pleaded not guilty to the charge.

Magistrate M.O Tanimola adjourned the case until June 23 for mention.

The Prosecution Counsel, Insp. Donjour Perezi, told the court that the defendant, on May 1 at Aderemi Akeju Street, PowerLine, Ifako, did attempt to steal a GAC SUV car with registration number GGE, 604 GZ, valued at N14 million.

“One Franklin Ngaba reported that he went for a meeting and parked his SUV car on Aderemi Akeju Street, Ifako, Lagos, when his host, Tajudeen Gafari, came to ask who owned said vehicle.

“Tajudeen said the defendant had opened the car and was about to drive it away when he was caught in the act,” Perezi said.

He said the offence contravened the provisions of Section 406 (2) of the Criminal Law of Lagos State, 2015.

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