Emefiele: Real reason CBN governor was fired – Tinubu

President Bola Ahmed Tinubu has spoken about the suspension of Godwin Emefiele, embattled governor of the Central Bank of Nigeria (CBN).

On June 9, Tinubu had suspended Emefiele and ordered investigation into some allegations leveled against him.

He was subsequently arrested in Lagos and flown to Abuja, by the Department of State Services (DSS), where he is being interrogated.

Speaking during an interactive session with Nigerians residing in France, the President said the financial system was rotten under Emefiele.

I have no sympathy for Emefiele – Chidi Odinkalu

Stock market soars first trading day after Emefiele’s suspension

He said many of those living outside the country could not send money to their parents and relatives due to the multiple exchange rates.

Tinubu, however said “that is gone now”.

“Then the financial system was rotten. Few people made bags of money and then you yourself, you stopped sending money home to our poor parents. Several windows. But that is gone now.

“The man is in the hands of the authorities. Something is being done about that. They will sort themselves out.

“We have security challenges in the country. Maybe that is how they are fuelling insecurity; we have to look at everything. We will change the financial system; it will work for you,” Tinubu said.