Nigeria's President Tinubu Suspends Central Bank Governor Emefiele

Nigeria's President Bola Tinubu has suspended central bank Governor Godwin Emefiele with immediate effect, following ongoing investigation of his office and planned reforms in the financial sector. Tinubu criticised Emefiele's handling of the currency and monetary policy at his inauguration last week and called on the central bank to work towards a unified exchange rate. Emefiele has been directed to hand over operations to the deputy governor, who will act as the central bank governor pending the conclusion of investigation and the reforms.