Everything you should know about Mr. Folashodun Adebisi Shonubi, the acting Governor of CBN

Everything you should know about Mr. Folashodun Adebisi Shonubi, the acting Governor of CBN

By Promise Eze 

Mr. Folashodun Adebisi Shonubi has been appointed as the acting Governor of the Central Bank of Nigeria (CBN) following the suspension of Mr. Godwin Emefiele from office.

President Bola Tinubu, on Friday night suspended Emefiele. The suspension was announced in a statement issued by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey.

Here are things you should know about the new CBN governor:

Mr. Folashodun Adebisi Shonubi, born on March 7, 1962, is a distinguished professional with a wealth of experience in the financial sector.

He pursued his undergraduate studies at the University of Lagos, where he obtained a Bachelor of Science degree in Mechanical Engineering in 1983.

Building on his educational foundation, Mr. Shonubi continued at the University of Lagos to earn a Master of Science degree in Mechanical Engineering with a specialization in Production Engineering in 1985.

Recognizing the importance of finance in his career, he embarked on further studies, completing a Master’s in Business Administration with a specialization in Finance between 1988 and 1989.

Mr. Shonubi began his professional journey as a Consultant Engineer at Mek-ind Associates, where he garnered valuable experience from 1984 to 1989.

In 1989, he transitioned to Inlaks Computers Limited, serving as a Marketing Executive until 1990.

A significant milestone in his career came when he joined Citibank Nigeria Limited in 1990, assuming the role of Head of Treasury Operations, a position he held until 1993.

Following his tenure at Citibank, Mr. Shonubi joined Agusto & Co. Ltd as a Supervising Consultant, contributing his expertise from 1993 to 1996.

Seeking new challenges, he moved to MBC International Limited in 1999, where he assumed the role of Deputy General Manager, Banking Operations & Information Technology.

From 1999 to 2002, Mr. Shonubi served as Vice-President of Operations & Information Technology at First City Monument Bank (FCMB) Limited, showcasing his leadership and management skills.

In 2003, he embarked on a new chapter in his career, joining Ecobank Nigeria Plc as an Executive Director, overseeing Operations & Information Technology.

Mr. Shonubi’s aptitude for technology and corporate services led him to Renaissance Securities Nigeria Limited, where he served as the Director of Information Technology and Corporate Services in 2007.

From September 2009 to April 2012, he joined Union Bank of Nigeria Limited as an Executive Director, overseeing Operations, Technology, and Services.

Mr. Shonubi’s outstanding leadership qualities were recognized when he assumed the role of Managing Director/CEO of Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018.

Since October 2018, Mr. Shonubi has held the position of Deputy Governor, Operations, at the Central Bank of Nigeria (CBN). Additionally, he represents the Governor of the CBN on the Board of the Federal Inland Revenue Service (FIRS) since December 9, 2019.

On June 9, 2023, Mr. Folashodun Adebisi Shonubi assumed the prestigious position of Acting Governor of the Central Bank of Nigeria (CBN), overseeing the crucial tasks of maintaining monetary stability and promoting financial development in the country.

Mr. Shonubi is not only dedicated to his professional pursuits but also finds joy in his personal life. He is happily married and blessed with children.


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