*Emefiele calm at home, reviewing hand over note Olawale Ajimotokan in Abuja President Bola Tinubu yesterday suspended the Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele from
President Bola Tinubu yesterday suspended the Governor of the Central Bank of Nigeria Mr. Godwin Emefiele from office with immediate effect.
The suspension of Emefiele did not come as a surprise to many. Tinubu had in his inaugural speech said the country’s monetary policy needed thorough house cleansing and had expressed his desire to have a CBN that would work towards a unified exchange rate. “Whatever merits it had in concept, the currency swap was too harshly applied by the CBN, given the number of unbanked Nigerians. The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.”
But the CBN had responded then that the redesigning of the N1000, N500 and N200 banknotes was not targeted at any politician or political parties but in the interest of the nation.
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