Nigeria: Tinubu Names Folashodun Adebisi Shonubi Acting CBN Governor

Folashodun Adebisi Shonubi has been named the acting Governor of the Central Bank of Nigeria (CBN) following Godwin Emefiele’s suspension by President Bola Tinubu.

Until his appointment, he was the Deputy Governor, Operations Directorate. Bayo Onanuga, a media aide to Tinubu disclosed this in a post via his Twitter handle on Friday (June 9, 2023).

He wrote, “Folashodun Adebisi Shonubi is the CBN acting governor. He has been since October 2018, the Deputy Governor, Operations Directorate. He was born on the 7th of March, 1962.

He attended the University of Lagos from 1978 to 1983 and obtained a Bachelor of Science in Mechanical Engineering. He also represents the CBN on the board of FIRS”.

Late on Friday (June 9, 2023), Emefiele was 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 the investigation and the reforms.

Acting CBN Credential

Shonubi moved to Citibank Nigeria Limited as Head of Treasury Operations from 1990 to 1993. He joined Agusto & Co. Ltd as a Supervising Consultant from 1993 to 1996, moving to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology in 1999.

In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology and was there till 2002. In 2003, he moved from FCMB to Ecobank Nigeria Plc as an Operations & Information Technology Executive Director.

In 2007, he became the Director, Information Technology and Corporate Services, at Renaissance Securities Nigeria Limited. He was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology and Services, from September 2009 to April 2012.

He became the Managing Director/CEO of Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018.

October 2018 to date, Mr. Folashodun is the Deputy Governor, Operations of the Central Bank of Nigeria (CBN) representing the Governor of the Central Bank of Nigeria on the Board of FIRS since the 9th of December, 2019. He is married with children. On June 9, 2023, he became the Acting Governor of the Central Bank of Nigeria (CBN)