Meet Folashodun Shonubi, The CBN’s New Acting Governor

Following the immediate suspension of Central Bank of Nigeria Governor Godwin Emefiele, his Deputy (Operations Directorate) Folashodun Adebisi Shonubi has been named to act in his place.

Emefiele was suspended by President Bola Tinubu on Friday night. Willie Bassey, Director of Information, Office of the Secretary to the Government of the Federation, confirmed the suspension in a statement.

Bassey noted that the CBN governor’s suspension is due to an ongoing inquiry as well as a proposed banking sector reform.

Shonubi, the new acting CBN governor assumed the position of Operations Directorate on October 17, 2018.

He was born on the 7th of March, 1962.

He holds a double Master’s Degree respectively in Business Administration and Mechanical Engineering, from the University of Lagos. He is a banker with over 30 year’s professional experience.

He was the Managing Director/CEO of the Nigeria Inter-Bank Settlement System PLC from 2012-2018.

Mr. Shonubi was previously Executive Director, Information Technology and Operations at Union Bank of Nigeria Plc; a member of the Board of Union Homes; and Director, Information Technology and Corporate Services at Renaissance Securities Nigeria Limited, where he was responsible for the Group’s IT infrastructure in Africa.

Between 1999 and 2007, he was Deputy General Manager at MBC International, where he oversaw their IT operational platforms, Vice President at First City Monument Bank Limited, and Executive Director at Ecobank Nigeria Limited.

Mr. Shonubi previously worked as the Head of Treasury Operations for Citibank Nigeria Limited from 1990 to 1993. He has served on a number of Bankers’ Committee sub-committees, including the Ethics and Professionalism sub-committee.

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