Central Bank Crisis Escalates: Sacked Officials Defy President’s Orders, Spark National Concern

In a developing crisis at the Central Bank of Nigeria, former Acting Governor Folashodun Shonubi and his deputies have refused to vacate their offices despite President Bola Tinubu’s appointment of a new governor. 

These actions have raised concerns about document retrieval and possible cover-ups within the bank.

Despite a recent diagnosis of COVID-19, Shonubi surprised many by returning to his office on Monday, allegedly looting documents along with his deputies. CBN sources claim that the former officials are attempting to conceal their tracks.

In another twist, influential businessmen and government officials are planning to meet with President Tinubu in New York, where he’s attending a UN General Assembly meeting, in an attempt to persuade him to halt the ongoing Special Investigator’s probe into the CBN and government-owned enterprises (GBEs).

President Tinubu’s recent appointments of Dr. Yemi Cardoso as the new CBN governor and four deputy governors have also sparked controversy. 

Commercial bank CEOs and major stakeholders are opposing these appointments, citing concerns over the appointees’ qualifications and political influence in the decision-making process.

These stakeholders are urging the National Assembly to reject Tinubu’s nominations and calling for the appointment of experienced individuals from within the CBN ranks. 

They argue that such appointments would better serve the nation’s already strained economy.

Meanwhile, efforts to obstruct the Special Investigator, Jim Obazee, and his team in their probe of the CBN and GBEs have emerged. 

These efforts include attempts to meet with President Tinubu to stop the investigation and alleged threats to Obazee’s team members. However, the investigators continue their work undeterred.

The crisis at the Central Bank of Nigeria raises concerns about the stability of the nation’s financial sector and the need for transparent and qualified leadership within the institution.

Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email:

Related Articles

Back to top button