On Friday, President Bola Tinubu explained why he had detained and suspended Mr. Godwin Emefiele as governor of the Central Bank of Nigeria (CBN).
President Tinubu claimed that Nigeria’s financial system, which was overseen by Governor Emefiele, was corrupt and that many of its citizens living in dire straits abroad were remitting money through the banking industry.
As part of his trip to Paris, France for the summit of the New Global Financing Pact, Tinubu participated in a town hall discussion with Nigerians.
Recall that Tinubu asked for an investigation into the CBN governor’s office and suspended him. Emefiele was then detained by the Department of State Services in Abuja after being arrested in Lagos and transported there on a ferry.
According to Tinubu, many Nigerians living overseas were unable to send money to their family members due to the fluctuating currency rates, but that is no longer the case.
The financial system was corrupt at that time. You stopped sending money home to our impoverished parents once a few people started manufacturing bags out of our money. multiple windows However, that is no longer there.
“The man is in the hands of the authorities, something is being done about that, and they will sort themselves out.”