2 years ago
The Central Bank of Nigeria governor, Godwin Emefiele, was suspended by Nigerian President Bola Ahmed Tinubu connected June 9 and was subsequently arrested by a home information agency. Several reports person linked Emefiele’s suspension to the cardinal bank’s arguable naira demonetization exercise.
Emefiele’s Presidential Aspirations
The Nigerian cardinal slope governor, Godwin Emefiele, was connected June 9 suspended by the West African nation’s caller president Bola Ahmed Tinubu. The suspension is expected to pave the mode for further investigations into Emefiele’s behaviour passim his tenure arsenic caput of the Central Bank of Nigeria (CBN).
JUST IN: The Department of State Services (DSS) person confirmed that Mr Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN) is present successful its custody for immoderate investigative reasons. pic.twitter.com/tJJtcEduzZ
— Eons Intelligence (@eonsintelligenc) June 10, 2023
Immediately aft his suspension, respective section media reports said Emefiele was arrested by a home information bureau known arsenic the Department of State Services (DSS). As reported by Bitcoin.com News connected Dec. 28, 2022, the CBN’s anti-bitcoin politician is accused of backing terrorists and of failing to decently negociate the cardinal bank.
At the clip erstwhile the charges were initially leveled against him, the country’s home information bureau sought to apprehension Emefiele but the determination was blocked by a Nigerian High Court. However, the departure of Emefiele’s ally, erstwhile president Muhammadu Buhari, appears to person allowed the DSS to yet enactment against the CBN governor.
Meanwhile, successful summation to the allegations leveled against him by the DSS, supporters of Tinubu person repeatedly claimed that Emefiele had attempted to artifact Tinubu’s ascendancy via the CBN’s arguable naira demonetization exercise. A fewer days aft Tinubu’s electoral victory, the CBN was forced to contented a statement which denied claims that Emefiele had initiated different crippled against the past president-elect.
New President Attacks Central Bank’s Policies
However, successful his inaugural speech arsenic president, Tinubu appeared to instrumentality a cue from his backers erstwhile helium blasted the CBN’s handling of currency and monetary policies. The caller president besides called for the replacement of Nigeria’s aggregate speech complaint authorities with 1 unified speech rate. A fewer days aft Tinubu’s admonishment, a section study connected June 1 suggested that the CBN had taken heed of the president’s telephone by devaluing the naira to N631:USD1 from astir N460:USD1. However, the cardinal slope has since branded the study “fake news.”
Meanwhile, a Nigerian firm lawyer who did not privation to beryllium identified told Bitcoin.com News that Emefiele’s past statesmanlike aspirations whitethorn partially explicate wherefore Tinubu chose to region him.
“Long earlier this suspension, immoderate salient Nigerians and Nigerians successful the thoroughfare person been calling for Emefiele’s outright sack for respective reasons. [One of these reasons is] Emefiele’s rank of the ruling enactment All People’s Congress (APC) with denotation to contention the 2023 statesmanlike election,” the lawyer said.
According to the lawyer, the cardinal bank’s failed naira demonetization workout proved to beryllium the “straw that broke the camel’s back.”
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