BREAKING: President Buhari Sacks CBN Governor, Godwin Emefiele

President Buhari has reportedly sacked CBN Governor, Godwin Emefiele.

 

 

Newsonline understands that unconfirmed media reports claimed that President Muhammadu Buhari has sacked the Central Bank Governor, Godwin Emefiele.

 

In the last few weeks, Emefiele had generated controversies after he was confirmed to have picked up an APC Party presidential nomination form through proxies and supporters. While he did not confirm his intention to contest the primary election, he refused to deny it and distant himself from the reports.

 

In a Twitter post addressing rumours regarding his political ambition, Emefiele urged for prayers as he prepares to take a personal decision on his intentions to contest.

 

Emefiele has been governor of the Central Bank of Nigeria since 2014. During his first term, he supervised an interventionist currency policy at the behest of the presidency, propping up the Nigerian Naira by pumping billions of dollars into the foreign exchange market. He also introduced a multiple exchange rate regime to try to mask pressure on the Naira and avoid a series of devaluations.

 

In 2019, Nigeria’s Senate approved a second five-year term for Emefiele. This is the first time that anyone will serve for a second term since Nigeria’s return to democracy in 1999.

 

Details shortly…