Nigeria's number one man, President Bola Tinubu has talked about why he suspended Godwin Emefiele as the Central Bank Governor.

Tinubu says Emefiele was suspended because of how he messed up the financial system of the country.

The president had on June 9, suspended Emefiele to allow for investigation into some allegations levelled against him concerning his activities as the CBN governor.

President Tinubu who broke silence on the arrest and detention of Emefiele on Friday, during an interactive session with Nigerians residing in France and neighbouring countries, said the financial system was rotten under Emefiele.

He said “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.

“The man is in the hands of the authorities. Something is being done about that. They will sort themselves out.”

SaharaReporters had also reported that the suspended Central Bank Gov., Emefiele was arrested by the Nigeria's secret Police, the Department of State Services (DSS) for alleged economic crimes, sabotage, incitement to violence, stealing of public funds among others.

The DSS in an affidavit of facts presented in court while seeking an order of court to detained Emefiele had listed these reasons for arresting him.

It said Emefiele was arrested “upon reasonable suspicion of committing acts which constitute a criminal breach of trust, incitement to violence, criminal misappropriation of public funds, economic sabotage, economic crimes of national security dimension and undermining the security of the Federal Republic of Nigeria.”

Meanwhile, the DSS and the Office of Attorney General of the Federation (OAGF) on Tuesday asked the Federal Capital Territory High Court not to grant bail to the suspended governor of the apex bank.

They argued that the suspended governor of the apex bank would flee the country if granted bail.

The DSS and the OAGF described Emefiele who is challenging his detention by the secret police as a “flight risk.”