June 18, 2024

Suspended Governor of the Central Bank of Nigeria, Godwin Emefiele is reportedly in custody of the Department of State Services. 

Willie Bassey, a Director in the Office of the Secretary to the Government of the Federation, announced the CBN Governor’s suspension on Friday night, June 9, saying it is part of a planned reform of the financial sector.

Mr Folashodun Adebisi Shonubi has already been appointed as the acting Governor of the Central Bank of Nigeria. 

Daily Trust has now reported that credible sources around the presidency and the intelligence community said Emefiele was suspended because of many reasons. Among them is his recent role in naira swap and cashless policy that mopped up the entire money in circulation in the country, which nearly truncated the conduct of the 2023 general elections.

It was also learnt that the DSS, the Economic and Financial Crimes Commission (EFCC) and many financial regulatory agencies, both at home and abroad, have issues to grind with the embattled Emefiele.

A source who confirmed that the suspended CBN Governor is in DSS custody, told the publication “Yes, he is here already undergoing interrogation.”

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