Why I fired Emefiele as CBN governor – Tinubu breaks silence

President Bola Tinubu has broken his silence on the suspension and subsequent imprisonment of Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).

Tinubu had suspended Emefiele on June 9 until the completion of an inquiry into the charges levelled against him. Emefiele was apprehended in Lagos State and taken to Abuja for questioning by the Department of State Services (DSS).

President Tinubu highlighted his concerns about the financial system during Emefiele’s term during an interactive session with Nigerians living in France and neighbouring countries on Friday.

He said that corruption and inefficiencies plagued the system. Tinubu emphasised the difficulties encountered by Nigerians residing overseas who were unable to transfer money to their parents and relatives owing to fluctuating exchange rates.

He told the crowd, however, that such concerns are now a thing of the past.The President’s remarks shed light on the circumstances behind Emefiele’s suspension and subsequent incarceration. Tinubu’s recognition of the financial system’s issues demonstrates the government’s commitment to combating corruption and restoring openness. The DSS’s ongoing interrogation of Emefiele demonstrates a concerted effort to thoroughly probe the claims against him.

“Then the financial system was rotten,” he explained. Few people made a lot of money, and then you stopped paying money to our poor parents. There are several windows. But that is no longer the case. It’s no longer there.

“The authorities have taken custody of the man. Something is being done to address this issue. They will figure it out.”

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