President Bola Ahmed Tinubu has suspended the Central Bank of Nigeria, CBN, Governor, Mr Godwin Emefiele from office with immediate effect.

According to a terse statement by Willie Bassey Director, Information Office of the Secretary to the Government of the Federation on Friday night, it is the sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

It was reported that Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of the investigation and the reforms.