Nigeria: Bank Governor Detained As Police Conducts Investigations

GodwinPaya/Wikimedia Commons
The Central Bank of Nigeria headquarters in Abuja.
11 June 2023
Nile Post (Kampala)

Police in Nigeria say they've detained the governor of the country's Central Bank during an investigation.

On Friday, Nigeria's new president, Bola Tinubu, announced that he had suspended the governor, Godwin Emefiele, with immediate effect amid planned reforms in the financial sector.

At his inauguration last week, President Tinubu criticised Mr Emefiele's monetary policies and his handling of the Nigerian currency.

The naira has weakened progressively under Mr Emefiele's leadership.

Operations have been handed over to the bank's deputy governor.

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