Meet Folashodun Adebisi Shonubi, The Trained Mechanical Engineer Who Is Now Acting CBN governor

On Friday, President Bola Tinubu appointed Folashodun Adebisi Shonubi, the Deputy Governor (Operations Directorate) of the Central Bank of Nigeria (CBN), as the apex bank’s acting governor.

The appointment followed the president’s suspension of Godwin Emefiele as the CBN governor.

EDITOR’S PICKS

• Tinubu Suspends Emefiele As CBN Governor

• FACT CHECK: Did Sanwo-Olu Direct LASTMA Officers To Stop Arresting Motorists?

• ICYMI: Lagos Isn’t No Man’s Land; HoA Will Pass New Property Laws Protecting Indigenes – Obasa

According to a statement from the office of the Secretary to the Government of the Federation, Tinubu suspended Emefiele following an “ongoing investigation” into his office.

By law, one of the deputies must complete Emefiele’s tenure, which expires May 2024.

The central bank has four deputy governors but Shonubi was considered above Aishah Ahmed, Edward Adamu, and Kingsley Obiora.

Who is Folashodun Adebisi Shonubi?

Shonubi is not your typical banker. He trained as a mechanical engineer, went into marketing, and moved into information technology before becoming a central banker.

The experienced financial expert holds double Masters Degree in Business Administration and Mechanical Engineering from the University of Lagos. He is a resourceful banker with over 30 years professional experience.

Prior to his appointment as Deputy Governor in the CBN; he was the Managing Director/CEO in the Nigeria Inter-Bank Settlement System (NIBSS) PLC from 2012 – 2018.

Before Shonubi’s appointment as the Managing Director of NIBSS PLC, he 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.

FURTHER READING

• Lagos Police Intensify Crackdown On Cable Thieves As RRS Operatives Arrest 8

• Senate Approves Tinubu’s Appointment Of 20 Special Advisers

• Focus On People’s Welfare, Sanwo-Olu Charges Lagos 10th Assembly

Shonubi assumes the role of acting Governor of the CBN until further notice.

Click to watch our video of the week: