Biography

Meet Folashodun Shonubi, acting CBN governor

Published

2 years ago

2023/06/10

Sub-editor

Folashodun Adebisi Shonubi has been appointed as the acting Governor of the Central Bank of Nigeria, CBN.

His appointment comes after President Bola Tinubu suspended Godwin Emefiele.

Tinubu also directed Emefiele to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), Mr Folashodun Adebisi Shonubi.

He said Shonubi will act as the CBN Governor, pending the conclusion of investigation and the reforms.

Mr. Folashodun Adebisi 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 further obtained a Master of Science in Mechanical Engineering in 1985 with bias in Production Engineering from the same University. From 1988-1989 he shifted grounds to Finance and obtained a Masters’ in Business Administration specializing in Finance.

He began his working experience as a Consultant Engineer at Mek-ind Associates and worked from 1984 to 1989.

From 1989 to 1990, he was a Marketing Executive at Inlaks Computers Limited. He moved to Citibank Nigeria Limited as Head, Treasury Operations from 1990 to 1993.

He joined Agusto & Co. Ltd as a Supervising Consultant from 1993 to 1996 from where he moved to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology from 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 Executive Director, Operations & Information Technology and in 2007 he became the Director, Information Technology and Corporate Services, Renaissance Securities Nigeria Limited. He was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology and Services, September 2009 to April 2012.

He became the Managing Director/CEO, Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018. October 2018 to until June 2023, Folashodun served 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.

Below is a brief profile of the Acting CBN Governor.

1. Shonubi was born on 7th of March, 1962.

2. He holds a double Master’s Degree respectively in Business Administration and Mechanical Engineering, from the University of Lagos.

3. He is a banker with over 30 year’s professional experience and was the Managing Director/CEO of the Nigeria Inter-Bank Settlement System PLC from 2012-2018.

4. 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.

5.He was the Deputy General Manager of MBC International between 1999 and 2007 and served in First City Monument Bank Limited as Vice President and in Ecobank Nigeria Limited as Executive Director.