Tinubu Appoints Shonubi as Acting CBN Governor

President Bola Tinubu has appointed Mr. Folashodun Adebisi Shonubi, deputy governor (Operations Directorate) as acting governor of the Central Bank of Nigeria (CBN) following the suspension of Godwin Emefiele from office with immediate effect.

Mr. Folashodun Adebisi Shonubi,

According to a statement signed by Willie Bassey, director of Information for the Secretary to the Government of the Federation, this came about as a result of the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

Emefiele was directed to immediately transfer control of his office’s affairs to the deputy governor (Operations Directorate), who will serve in that capacity as the Central Bank Governor pending the conclusion of the investigation and the reforms.

Shonubi holds double Masters Degree respectively in Business Administration and Mechanical Engineering, from University of Lagos.

He is a banker with over 30 years professional experience.

Prior to his appointment as Deputy Governor in the Central Bank of Nigeria, he was the Managing Director/CEO in the Nigeria Inter-Bank Settlement System PLC from 2012 – 2018.

Prior to his appointment as the Managing Director NIBSS PLC, Mr. 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).

He has served on a number of sub-committees of the Bankers’Committee, including the Ethics and Professionalism sub-committee.