Nigeria’s financial system became ‘rotten’ under Emefiele, says Tinubu

By Danlami Nmodu

President Bola Tinubu has decried the state of Nigeria’s financial system under the leadership of suspended Governor Central Bank of Nigeria,CBN Godwin Emefiele.

Speaking for the first time on the Emefiele saga, Tinubu while addressing Nigerians in diaspora in Paris, France said, “Then the financial system was rotten. Few people making … ..money and then you yourself, you stopped sending money home to our poor parents. Several windows that is gone now, is gone. The man is in the hands of authorities, something is being done about that, they will sought themselves out.”

Tinubu also noted that, “We have security challenges in the country. Maybe that is how they are fueling insecurity, we have to look at everything.

President Tinubu assured the diaspora Community that his government will make the financial system work for all

He noted that, “Wale Edun and I, and the team, we have that record in Lagos state. We inherited an internally generated revenue of only N600m. It’s over N50 billion every month now and Lagos is on autopilot. Anybody intelligent enough can navigate it.

Modus Operandum reports President Bola Ahmed Tinubu had weeks earlier suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect.

Willie Bassey, Director, Information
Office of Secretary to the Government of the Federation said in a statement that the suspension was 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), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms, Bassey said.

The Department of State Services, DSS eventually took Emefiele into custody for further investigations.