Emefiele Suspended, Shonubi Appointed Acting CBN Governor Emefiele calm at home, reviewing hand over note Olawale Ajimotokan in Abuja President Bola Tinubu yesterday suspended the Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele from office with immediate effect.
Emefiele was subsequently directed to immediately hand over the affairs of his office to CBN’s Deputy Governor (Operations Directorate), Folashodun Shonubi, who will act as the Central Bank Governor.
The Secretary to the Government of the Federation (SGF), George Akume, in a statement issued by the Director of Information, office of the SGF, Willie Bassey, said the suspension was sequel to the ongoing investigation of Emefiele
and the planned reforms in the financial sector of the economy. The suspension of Emefiele did not come as a surprise to many. Tinubu had in his inaugural speech said the country’s monetary policy needed thorough house cleansing
and had expressed his desire to have a CBN that would work towards a unified exchange rate. “Monetary policy needs a thorough house cleaning. The central bank must work towards a unified exchange rate. This will
direct funds away from arbitrage into meaningful investment in the plant, equipment, and jobs that power the real economy,” Tinubu had said. Continued on page 5
KPMG: FG’s Target of 6% Annual GDP Growth Not Feasible...
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Saturday 10 June, 2023 Vol 28. No 10286
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Polaris Bank Appoints 2 New Executive Directors...
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NLC, TUC Ask Court to Vacate Order Stopping Strike Claim federal government suppressed material facts, misled judge
Alex Enumah in Abuja The Nigerian Labour Congress
(NLC) and the Trade Union Congress (TUC) have asked the National Industrial Court,
Abuja, to set aside its interim order that stopped the two bodies from embarking on
their planned industrial action on June 7, against the removal of fuel subsidy by the Tinubu
administration. Last Monday, the Industrial Court asked the unions to halt
the planned strike pending the Continued on page 5
Tinubu: We Can’t Continue as Father Xmas toInsists Other Countries with Subsidised Petrol subsidy was removed so that Nigeria won't collapse Use traditional rulers to actualise your plans, Sultan, Ooni urge President Deji Elumoye in Abuja President Bola Tinubu yesterday declared that Nigeria can’t continue as Father Christmas to neighbouring African countries by providing them subsidised petrol, adding that his administration took the right decision to remove the subsidy. The President, who was speaking at an interactive session with select Nigerian traditional rulers, on the platform of the National Council of Traditional Rulers of Nigeria (NCTRN), at the State House, Abuja, described the subsidy as an elephant that could have brought the country to its knees “because it is struggling to pay salaries.” Tinubu told the traditional leaders: “I am grateful that you are paying attention to what I have been doing. You have paid attention to the subsidy removal. Why should we in good heart Continued on page 5
SEEKING SUPPORT OF TRADITIONAL RULERS… L-R: Ooni of Ife, Oba Adeyeye Enitan Ogunwusi Ojaja II; President Bola Tinubu and the Sultan of Sokoto, Muhammadu Sa'ad Abubakar; after Tinubu’s meeting with the National Council of Traditional Rulers of Nigeria (NCTRN), at the Presidential Villa, Abuja…. Yesterday. GODWIN OMOIGUI
Police Raid Ex-Gov Matawalle’s Residence, Recover Vehicles...
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