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No, Nigeria’s president Bola Tinubu not considering making Tony Elumelu the central bank governor

IN SHORT: Tinubu and Elumelu have a good relationship. But Elumelu poured cold water on online claims that the president was considering him as the next governor of the Central Bank of Nigeria. 

A post on Facebook in Nigeria claims that president Bola Tinubu is considering making United Bank for Africa (UBA) chairperson, Tony Elumelu, the governor of the country’s central bank.


Elumelu is one of Africa’s leading investors and philanthropists. In addition to UBA, he chairs other companies including Heirs Holdings, Transcorp and Heirs Oil & Gas.

On 9 June 2023, Tinubu suspended Godwin Emefiele as CBN governor,  pending an investigation into his office.

Folashodun Adebisi Shonubi was subsequently appointed as acting governor.

On 10 June, Emefiele was arrested and detained by Nigeria’s secret police, the Department of Security Service (DSS). He is facing 20 charges of conspiracy and procurement fraud brought by the government.

The post reads: “According to a Source President Tinubu is also considering Tony O. Elumelu as CBN Governor.”

The claim on Facebook also appeared here, here, here and here.

We traced the original source of the claim to an account on Twitter, which rebranded as X in July.

On 12 June, the account tweeted: “According to a Source President Tinubu is also considering Tony O. Elumelu as CBN Governor.”

Elumelu and Tinubu have a good relationship. They were reported to have exchanged visits in March and August.

But is Tinubu considering making Elumelu the governor of the central bank?

‘False news,’ says Elumelu

On 1 September, Elumelu denied claims that Tibubu was considering making him the bank’s governor.

“LOL. No, please. This is false news!” Elumelu tweeted.


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