President Bola Tinubu on Friday in France, describing Nigeria’s financial system under the suspended Governor of the Central Bank of Nigeria, Godwin Emefiele, as “rotten.”
He cited the difficulty in the flow of forex in and out of the country, saying it enriched a few people and impoverished the vast majority of Nigerians.
The president’s comments come exactly two weeks after he suspended the former CBN chief to pave the way for the investigation of his office and the planned reforms in the financial sector, according to a statement from the office of the Secretary to the Government of the Federation.
Emefiele was later arrested and is currently being detained by the Department of State Services, DSS as operatives combed his Lagos residence, where they reportedly recovered some vital documents.
The embattled Emefiele has since approached the Federal Capital Territory High Court in Abuja to challenge his detention by the DSS.
Speaking further in France on Friday, Tinubu said his administration would implement further financial reforms in the coming weeks.
