Following the immediate suspension of Godwin Emefiele on the night of Friday, June 10, 2023, by President Bola Tinubu, Folashodun Adebisi Shonubi has been appointed as the acting governor of the Central Bank of Nigeria (CBN).
Emefiele’s suspension came as a result of ongoing investigations and a planned reform of the financial sector. Shonubi, who was the Deputy Governor of the Operations Directorate, has been tasked with leading the apex bank in an acting capacity.
Folashodun Adebisi Shonubi, born on March 7, 1962, brings over 30 years of banking experience to his new role. He holds dual Master’s Degrees in Business Administration and Mechanical Engineering from the University of Lagos (Unilag).
Shonubi began his banking career at Citibank Nigeria Limited, where he served as the Head of Treasury Operations. He later held executive positions at various banks, including First City Monument Bank (FCMB) and Ecobank Nigeria Plc, where he was responsible for operations and information technology.
Prior to joining the CBN, Shonubi served as the Managing Director and Chief Executive Officer of the Nigeria Inter-Bank Settlement System (NIBSS) from 2012 to 2018. His appointment as the Deputy Governor of the Operations Directorate at the CBN took effect on October 17, 2018.
The appointment of Folashodun Adebisi Shonubi as the acting CBN governor marks a significant development in Nigeria’s financial sector, as he takes on the responsibility of leading the country’s central bank during a period of reform and investigation.
