President Bola Ahmed Tinubu has explained why the embattled former Central Bank of Nigeria’s Governor, Godwin Emefiele, was suspended and detained for interrogation by the Department of State Security, DSS.

The Nigerian leader had suspended Emefiele on June 9 to enable for an inquiry into the charges brought against the former CBN governor.

Emefiele was detained in Lagos State and flown by the Department of State Services to the Federal Capital Territory, Abuja, where he is being probed.

Speaking on the reason for detention of the ex-CBN boss, Tinubu, in an interactive session with Nigerians residing in France and neighbouring countries on Friday, said the financial system was rotten under him as the governor of Nigeria’s apex bank, says the Cable.

Tinubu said: “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. It’s gone.

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

On subsidy, Tinubu said, “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.

“Let us see whether we will survive or not but we are going to survive you.

Nigeria’s President, Bola Ahmed Tinubu, who is among many world leaders who attended the New Global Financing Pact summit in Paris, France, is expected to return today, Saturday.

Several multilateral development banks including the World Bank, Africa Development Bank, European Union, African Union and the United Nations were also present at the event.