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BREAKING: CBN Governor, Emefiele Suspended by Tinubu

Published

3 years ago

June 9, 2023

Charles Flames

393 Views

President Bola Tinubu has suspended Godwin Emefiele as the Central Bank of Nigeria (CBN) governor.

“President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect,” the Director of Information, Office of the Secretary to the Government of the Federation Willie Bassey said in a Friday statement.

“This is a sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate) [Folashodun Adebisi Shonubi], who will act as the Central Bank Governor pending the conclusion of the investigation and the reforms.”

The development is coming less than two weeks after President Tinubu assumed office and months after the CBN’s heavily-criticized naira swap.

Former President Muhammadu Buhari’s government introduced new bank notes late last year, arguing it would help tackle vote-buying, insecurity and fight inflation among others.

But weeks before the polls, the country was hit with a cash crunch as the CBN withdrew the old notes. The development drew criticisms from top personalities.

Some state governors even took the matter to court with Tinubu faulting the implementation of the policy.

As the then-presidential candidate of the ruling All Progressives Congress (APC), Tinubu asked the CBN to allow both old and new notes to coexist.

Tinubu said, he was “only concerned about its disruptive implementation and the hardship it has brought on the generality of our people who currently can’t access their hard-earned money to meet obligations and the attendant consequences on the informal sector, where the majority operate”.

In the lead-up to the presidential election, his campaign team claimed the move was targeted at Tinubu.

During his inauguration, President Tinubu did not mince words about the naira swap policy and promised to review it.

He maintained that it “was too harshly applied by the CBN given the number of unbanked Nigerians.

“The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender”.

Related Topics:Emefiele Featured Suspended Tinubu

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Ayo Fayose Gets Presidential Portfolio As REA Board Chairman

Fayose will head the board of REA, with Alhaji Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta appointed as members and non-executive directors,” said Onanuga.

Published

1 hour ago

July 21, 2026

OCHEFA

9 Views

President Bola Tinubu has appointed the former governor of Ekiti State, Ayo Fayose, as chairman of the Rural Electrification Agency (REA) Board.

The President also appointed Major General Junaid Bindawa as chairman of the National Salaries, Incomes and Wages Commission.

24 others were also appointed to 10 federal government agencies and commissions.

The appointments were contained in a statement issued by the presidential spokesman, Bayo Onanuga, in Abuja.

According to the statement, “All the appointments take immediate effect.”

“Fayose will head the board of REA, with Alhaji Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta appointed as members and non-executive directors,” said Onanuga.

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BREAKING: ICPC grills Gbajabiamila over PFIPC scandal

According to Jiti Ogunye, Gbajabiamila’s counsel, the president’s chief of staff appeared at the ICPC headquarters on Monday, where he was questioned over the PFIPC controversy.

Published

15 hours ago

July 20, 2026

OCHEFA

20 Views

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has interrogated Femi Gbajabiamila, chief of staff to President Bola Tinubu, over his role in the emergence of the controversial Presidential Foreign Investment Promotion Council (PFIPC).

According to Jiti Ogunye, Gbajabiamila’s counsel, the president’s chief of staff appeared at the ICPC headquarters on Monday, where he was questioned over the PFIPC controversy.

Details soon

(The Cable)

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NBC Begins Training of Free -To- Air TV Installers

” We are doing it to ensure that they can properly track the NigComsat signal. We found out that installers are very critical to the success of the DSO project because we recently launched the DTH project. We are going DTT. We are going DTH. We are doing mobile App.”

Published

15 hours ago

July 20, 2026

OCHEFA

23 Views

•50 set-top box installers and technicians in Ibadan

The National Broadcasting Commission (NBC) has commenced nationwide capacity-building exercise to prepare installers for the rollout of the country’s renewed Digital Switchover (DSO) programme.

The Head of the DSO Unit and Deputy Director of Public Affairs at the Commission, Mrs. Clementine Usman-Wamba, announced the development during training of more than 50 set-top box installers and technicians in Ibadan, the Oyo State capital.

According to her, broadcasters would be shut out of analogue broadcasting transmission by 2028, hence the need for the training of installers that are professionals to assist in the process.

She said, “We are actually here in Ibadan to train installers specifically to be part of the Digital Switch Over process.We are doing it in conjunction with Nigeria Communication Satellite Limited, (NigComSat). It is a joint outreach that we are doing here today.”

She said that the installation of Free TV is to enable Nigerians to have access to many channels without subscription, noting that the NBC has embarked on the training of the installers of decoders and dishes nationwide for effective take off of the project.