- Godwin Emefiele has not only lost his position as the CBN governor but has also been arrested by the Department of State Security
- The development comes less than a week after President Bola Tinubu met with him and the NNPCL CEO Mele Kyari at Aso Rock
- Nigerians have taken to social media to express their opinions on the suspension of Emefiele and the first few days of Tinubu's administration
The suspension of Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has sparked a flurry of reactions and discussions among Nigerians on social media.
Also, reports suggest that the Department of State Services (DSS) has arrested Emefiele, while others claim he is under house arrest.
Nigerians react to Emefiele's suspension
Following the suspension of Godwin Emefiele, who has been at the helm of affairs since 2014, experts, lawyers, and Nigerians took to social and mainstream media to express their opinions.
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The comments suggested that many had eagerly anticipated Tinubu's move since he assumed office.
As of Saturday morning, June 10, 2023, Legit.ng checks on CrowdTangle, a Facebook open-source intelligence tool (OSINT), showed that the news of Emefiele's suspension had generated over 100,000 interactions across different pages.
Additionally, Emefiele is the top trending topic on Twitter Nigeria, with over 33,000 tweets at the time of writing.
One of the tweets is from Deji Adeyanju, the Convener of Concerned Nigerians. He wrote:
“President Tinubu suspends Emefiele. Tinubu is not here to play, I like it.”
"The suspension of Godwin Emefiele, the Governor of the Central Bank of Nigeria, by President Bola Tinubu is not in good taste.
"It appears to be a vindictive act, to punish Mr Emefiele for the patriotic Naira redesign policy, which was meant, among other things, to reduce the impact of money on the Nigerian election.
"President Tinubu started well. Indeed, I have had cause to praise him. But he should not mar the progress he has made by this act of seeming vengeance. The country needs unity and stability after a fractious election. Now is the time for appeasement, not punishment. It is hoped that the President will reconsider his actions for the nation's greater good."
Bayo Onanuga, a Tinubu presidential campaign spokesperson, also protested the suspension mocking the ex-CBN governor.
“Good riddance to the worst CBN Governor in History”.
@OgbeniDap also commented on Twitter:
“Some people supported the foolish implementation of the Naira redesign policy even after protests and vandalism happened in Oyo, Delta, Ogun and other states because they believed it would stop Bola Ahmed Tinubu from becoming President.
Godwin Emefiele: List of allegations levelled against suspended CBN governor emerges as DSS set to make fresh move
"These are the hypocrites and fake patriots who call some of us enemies of Nigeria and tried to cancel us repeatedly for not backing their messiah“.
@drpenking also reacted:
“Emefiele has been sacked as CBN Governor but his legacy lives on. He will forever be remembered as the only CBN Governor in history that made Nigerians buy Naira with Naira”.
Experts air views on Tinubu's action towards CBN governor
Economists, financial experts spoke to Legit.ng on the suspension of Godwin Emefiele after nine years at the top of the CBN.
Uche Uwaleke, a professor of capital market at Nasarawa State University Keffi, said the suspension of Godwin Emefiele was long foretold but noted that the swiftness caught not a few by surprise.
"The President cannot sack the CBN Governor, but he can suspend, which is what the President has done."
Eben Joels Esq., FCA country leader of RSM International, suggested that the government leave the office vacant until a comprehensive review of the CBN's role is conducted.
Kalu Aja, a financial expert, also reacted thus:
"The market will not react negatively to the sack sorry suspension of the CBN Governor. Mr Emefiele desecrated that office and should have honourably resigned."
On the argument of if President Tinubu has the constitutional power to suspend the CBN governor, Gibert Ayoola said:
"He has the constitutional power to do such. After all, he's only responsible to the office of the president aside from the oversight function carried out by the House, which may warrant summons or invitations by both Houses to appear before it."
CBN gets news acting Governor, Folashodun Adebisi Shonubi
In another report, Legit.ng profiled the new acting CBN governor, Folashodun Adebisi Shonubi, and his career journey.
Shonubi was considered for the role by President Tinubu among four deputy governors: Aisha Ahmed, Edward Adamu, and Kingsley Obiora.
By law, one of the deputies must complete Emefiele’s tenure, which was expected to expire on May 2024.