During an interactive session with Nigerians residing in France and neighboring European countries, President Bola Tinubu provided additional information on his decision to suspend Godwin Emefiele as the Governor of the Central Bank of Nigeria (CBN). Tinubu stated that he took this action because he believed the country’s financial system was corrupt under Emefiele’s leadership.
According to Tinubu, the financial system allowed a few individuals to illegally accumulate wealth, while Nigerians in the diaspora were unable to send money back home due to multiple exchange rates. He expressed his disapproval of such practices and assured the audience that those responsible would face the consequences as they are now in the hands of law enforcement agents.
Tinubu acknowledged that in the past, there were several windows of opportunity for financial misconduct. However, he emphasized that those days are gone and that appropriate measures are being taken to address the situation.
The meeting took place on the sidelines of the New Global Financing Pact Summit in Paris, France.