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Why CBN Governor Emefiele was suspended -Tinubu

President Bola Ahmed Tinubu, GCFR

*President Bola Ahmed Tinubu, GCFR, in his interactions with Nigerians living France during his recent visit, discloses how the West African country’s multiple exchange rates had negatively affected their remittances to support national

development as well as parents and relatives back home

Isola Moses | ConsumerConnect

President Bola Ahmed Tinubu, in faraway France, has spoken about the recent suspension and subsequent arrest of Mr. Godwin Emefiele as Governor of the Central Bank of Nigeria (CBN).

It was learnt Tinubu, who spoke on the issue at an interactive session with Nigerians residing in France and neighbouring countries Friday, June 23, 2023, stated the Nigerian financial system  was rotten under Emefiele’s leadership of the Bankers’ Bank in the country.

It is recalled the President June 9, suspended Emefiele in order to allow investigation into some allegations preferred against the latter.

Shortly after his suspension from office as CBN Governor, the Department of State Services (DSS) arrested Emefiele in Lagos, and flew him to Abuja, FCT, where currently, he is being detained and interrogated for ‘investigative reasons’.

Multiple Exchange rate is gone, says President

In his interaction with Nigerians during his latest trip to the country after the 2023 New Global Finance Pact Summit, Tinubu disclosed that several citizens living outside Nigeria had been unable to send money to their parents and relatives due to the multiple exchange rates at the time.

According to him, “that is gone now.”

The President also stressed, “then, the financial system was rotten.

“Few people made bags of money and then you yourself, you stopped sending money home to our poor parents.

“Several windows. But that is gone now. It’s gone.”

Tinubu further said: “The man (Emefiele) is in the hands of the authorities.

“Something is being done about that. They will sort themselves out.”

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