After the immediate suspension of Godwin Emefiele, the Governor of the Central Bank of Nigeria, his position will be temporarily filled by Folashodun Adebisi Shonubi, the Deputy Governor in charge of Operations Directorate. The announcement was made following President Bola Tinubu’s decision to suspend Emefiele, which was conveyed in a statement by Willie Bassey, the Director of Information at the Office of the Secretary to the Government of the Federation. The suspension of the CBN governor is a result of an ongoing investigation and the planned financial sector reform.
Shonubi, who assumed the role of Operations Directorate on October 17, 2018, has been appointed as the acting CBN governor. Born on March 7, 1962, he holds dual Master’s Degrees in Business Administration and Mechanical Engineering from the University of Lagos. With over 30 years of professional experience in banking, Shonubi previously served as the Managing Director/CEO of the Nigeria Inter-Bank Settlement System PLC from 2012 to 2018.
Prior to his role at NIBSS PLC, Shonubi held positions such as Executive Director of Information Technology and Operations at Union Bank of Nigeria Plc, member of the Board of Union Homes, and Director of Information Technology and Corporate Services at Renaissance Securities Nigeria Limited, where he oversaw the Group’s IT infrastructure in Africa. He also worked at MBC International as Deputy General Manager, overseeing IT operational platforms, and held positions at First City Monument Bank Limited as Vice President and Ecobank Nigeria Limited as Executive Director.
Furthermore, Shonubi served as the Head of Treasury Operations at Citibank Nigeria Limited from 1990 to 1993 and has actively participated in various sub-committees of the Bankers’ Committee, including the Ethics and Professionalism sub-committee.