The Nigerian financial system became so rotten under the watch of the suspended Central Bank of Nigeria, CBN, governor Godwin Emefiele, according to President Bola Ahmed Tinubu.
President Tinubu took a swipe against Emefiele in faraway France, his first direct attack on the former in the manner he handled the country’s apex bank before he was removed last month.
Tinubu accused the former CBN governor of using the country’s foreign exchange system to enrich a few rich persons while impoverishing a lot of Nigerians.
The president who was speaking with diasporan Nigerians said the system under Emefiele was used to frustrate them from sending home money due to the multiple exchange systems.
He said he has directed security agencies to get to the root of how the CBN was mismanaged under Emefiele’s watch, adding that the development fueled insecurity in the country.
“The financial system was rotten. Few people were making away with our money…that is gone now; the man (Emefiele) is in the hands of the authorities.
“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.”
The former CBN governor was suspended on June 10, 2023, and has since been arrested by the Department of State Services, DSS, which is investigating him for alleged financial impropriety and terrorism-related offenses.
