The Central Bank of Nigeria (CBN) Deputy Governor (Operations Directorate), Mr Folashodun Adebisi Shonubi, has been appointed as the Acting CBN Governor, following the suspension of the CBN Governor, Mr Godwin Emefiele.
President Bola Tinubu had on Friday night suspended Emefiele and directed him to vacate his office with immediate effect.
The President’s decision was announced in a statement issued by the Director of Information, Office of the Secretary to the Government of the Federation, Mr Willie Bassey.
Bassey further explained that the suspension of Emefiele is based on an ongoing investigation as well as planned reform of the financial sector.
On the basis for Emefiele’s suspension, the statement reads in part, This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.”
“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.”
It is instructive to note that Shonubi, the new acting CBN governor assumed the position of Operations Directorate on October 17, 2018.
He was born on March 7, 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 years professional experience.
He was the Managing Director/CEO of the Nigeria Inter-Bank Settlement System PLC from 2012-2018.
Before he was appointed the Managing Director NIBSS PLC, Shonubi was 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 in Renaissance Securities Nigeria Limited, with responsibility for the Group’s IT infrastructure in Africa.
Between 1999 and 2007, he worked in MBC International as Deputy General Manager and supervised their IT operational platforms, served in First City Monument Bank Limited as Vice President and in Ecobank Nigeria Limited as Executive Director.
Shonubi also had a stint with Citibank Nigeria Limited as its Head, Treasury Operations (1990-1993).
It is also important to note that Shonubi served on a number of sub-committees of the Bankers’ Committee, including the Ethics and Professionalism sub- committee.
