Former governor of the Central Bank of Nigeria Godwin Emefiele has resigned, Reuters has reported, amid questions about his status after President Bola Tinubu appointed a replacement Friday.
President Tinubu suspended Emefiele in June after questioning the central bank’s monetary and foreign exchange policies. He was later arrested and taken before a court, accused of fraud.
Emefiele was scheduled to complete his tenure in 2024. His nine-year tenure witnessed some of the most controversial monetary policies in Nigeria, some fuelling inflation and hardship.
Even while on suspension, Emefiele remained CBN governor under the CBN Act which says the president can only suspend but not singlehandedly remove the governor. A dismissal must be approved by two-thirds of the Senate.
President Tinubu on Friday named his former aide Olayemi Cardoso as new governor of the CBN, raising questions about Emefiele’s fate.
Reuters quoted two sources as saying that Emefiele resigned in August. The news agency said Emefiele who remains in the custody of the State Security Service (SSS) sent a resignation letter to the president.
Emefiele could not be reached. Presidential spokesperson Ajuri Ngelale could not be reached by his known phone contact on Saturday. Another presidency source told Pluboard he was not aware of the development.
New appointees
Ngelale said in a statement on Friday said Mr Cardoso, whose appointment is subject to Senate approval, will serve as the new CBN governor for a term of five years at the first instance.
President Tinubu also nominated Emem Nnana Usoro, Muhammad Dattijo, Philip Ikeazor and Bala Bello as new deputy governors.
Cardoso, a banker and stockbroker, is a former chairman of Citibank of Nigeria and was commissioner for economic planning and budget when Mr Tinubu was governor in Lagos.
Usoro is an executive director at UBA, which she joined in 2010. She worked at the defunct Bank PHB Plc and Platinum Bankm, and attended the University of Uyo and Obafemi Awolowo University.
Dattijo worked as the budget and planning commissioner in Kaduna state in the Nasir el-Rufai administration. He later served as chief of staff to the governor. He attended Ahmadu Bello University.
Ikeazor served as chief executive at Keystone Bank Limited and Ecobank Kenya. He also worked as executive director at Union Bank Nigeria.
Bello worked at Guaranty Trust Bank (GTBank), Nigerian Export-Import Bank, and Securities and Exchange Commission (SEC).
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