President Tinubu Official Reveals why he suspended CBN Governor the Governor of the Central Bank of Nigeria (CBN). Speaking during an interactive session with Nigerians residing in France and neighboring European countries on June 23, President Tinubu highlighted the dismal state of the nation’s financial system under Emefiele’s leadership.
President Tinubu emphasized that the multiple exchange rates implemented by the apex bank had hindered Nigerians abroad from sending money to their families back home. However, he assured the audience that these challenges were a thing of the past, as actions were being taken to address the situation and resolve Emefiele’s case.
Additionally, President Tinubu recommended a shift away from the tradition of appointing bankers as CBN governors. Instead, he suggested appointing economists with integrity and extensive experience working with international organizations such as the International Monetary Fund (IMF). According to him, bankers lack the necessary economic expertise and serve primarily as marketers rather than possessing a deep understanding of the economy.
In a separate development, a federal high court in Abuja issued a directive to the Department of State Service (DSS) and its Director General, instructing them to grant Godwin Emefiele unrestricted access to his lawyers and family members. The court’s decision, made on June 16, came after Emefiele’s legal counsel, J.B. Daudu SAN, filed the application to protect his client’s constitutional rights.
