President Bola Ahmed Tinubu has spoken about the suspension of Godwin Emefiele as the governor of the Central Bank of Nigeria (CBN).
Voiceofnaija.ng reported that on 9 June, 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.
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”.
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“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.
During the interactive session, the President stated the subsidy on petrol needed to go because it was making a few people rich.
“They thought it was the joke of the century until I called NNPC. We are tired of feeding smugglers, making a few people rich, and subsidising the next-door neighbour,” the President said.
“I met with the president of the Benin Republic today. Everybody is equal now, we are friends. We are conjoined twins joined by the hips, how we will separate each other is with this fuel subsidy.
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“Let us see whether we will survive or not but we are going to survive you.”
The President also said the federal government was working to make provisions that would cushion the effect of the removal of the subsidy.
“You want money to increase palliative, transportation. What are you protesting about? Are you sharing part of the subsidy? If you protest, I will join you and protest against it. And they stopped. No protest,” he said.
“Palliative we will get but we have to save the money in order to embark on a palliative [measures].”
