Nigeria’s new president, Bola Tinubu, suspended on Friday the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, who was blamed for the severe cash shortage that paralysed the Nigerian economy at the beginning of the year, due to a controversial monetary policy aimed at replacing all banknotes.
Godwin Emefiele was suspended from office and arrested by the Nigerian security services after nine years at the helm of the Central Bank of Nigeria.
A video posted on social networks shows Godwin Emefiele boarding a private jet, watched by men in suits, handcuffs in hand.
The government statement published on Friday night said that the CBN governor had been suspended from office following an ongoing investigation.
Meanwhile, the Labour Party is accusing the new head of state of waging a personal “vendetta” against Godwin Emefiele – accused of disrupting the election campaign by replacing all Nigeria’s banknotes, officially to combat vote-buying.
In 2014, the sacking of Sanusi Lamido Sanusi, then Governor of the Central Bank, by President Goodluck Jonathan caused a scandal in Nigeria.