Folashodun Adebisi Shonubi has been named as the acting governor of the Central Bank of Nigeria (CBN) after the immediate suspension of Godwin Emefiele on the night of Friday, June 10, 2023.
President Bola Tinubu’s decision to suspend Emefiele came as no surprise, as he had become a controversial figure due to a series of contentious monetary policies during his tenure. The suspension was announced through a statement issued by Willie Bassey, the Director of Information in the Office of the Secretary to the Government of the Federation.
According to Bassey, Emefiele’s suspension was a result of an ongoing investigation and a planned reform of the financial sector. In the interim, Shonubi, the Deputy in the Operations Directorate, has been entrusted with the responsibility of acting as the governor of the CBN.
Let’s get acquainted with the new acting governor of the CBN. Born on March 7, 1962, Shonubi assumed the position of Operations Directorate on October 17, 2018. He holds dual Master’s Degrees in Business Administration and Mechanical Engineering from the University of Lagos (Unilag) and has accumulated over 30 years of experience in the banking sector.
Shonubi began his banking career at Citibank Nigeria Limited, where he served as the Head of Treasury Operations from 1990 to 1993. Later, he joined MBC International Ltd as the Deputy General Manager of Banking Operations and IT. In 1999, with the country’s return to democracy, Shonubi became the Vice-President of Operations and Information Technology at First City Monument Bank (FCMB). He then moved to Ecobank Nigeria Plc, where he held the position of Executive Director of Operations and Information Technology.
Between 2009 and 2012, Shonubi spent three years as the Executive Director of Information Technology and Operations at Union Bank of Nigeria Plc, also serving as a board member of Union Homes. He subsequently joined Renaissance Securities Nigeria Limited as the Director of Information Technology and Corporate Services, overseeing the group’s IT infrastructure in Africa.
From 2012 to 2018, Shonubi served as the Managing Director and Chief Executive Officer of the Nigeria Inter-Bank Settlement System (NIBSS). He officially joined the CBN on October 17, 2018, as the Deputy Governor in the Operations Directorate.
Source: Pulse
