President Tinubu suspends CBN Governor Emefiele, names Folashodun Shonubi as acting governor
President Tinubu suspends CBN Governor Emefiele, names Folashodun Shonubi as acting governor
Story from Vivian DANIEL, Abuja
President Bola Tinubu has announced the immediate suspension of Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), from office.
During this period, Folashodun Adebisi Shonubi, the Deputy of Operations Directorate, will assume the position as the acting governor.
The suspension of Governor Emefiele was disclosed in a statement issued by Willie Bassey, the Director of Information at the Office of the Secretary to the Government of the Federation.
Bassey stated that the suspension was due to an ongoing investigation and the planned reform of the financial sector.
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Folashodun Shonubi, the new acting CBN governor, took on the role of Operations Directorate on October 17, 2018.
Born on March 7, 1962, he holds double Master’s Degrees in Business Administration and Mechanical Engineering from the University of Lagos. With over 30 years of professional experience in banking, Shonubi is well-equipped to assume this responsibility.
From 2012 to 2018, Shonubi served as the Managing Director/CEO of the Nigeria Inter-Bank Settlement System PLC.
Prior to that, he held positions such as Executive Director of Information Technology and Operations at Union Bank of Nigeria Plc, board member of Union Homes, and Director of Information Technology and Corporate Services at Renaissance Securities Nigeria Limited, where he oversaw the Group’s IT infrastructure in Africa.
During his career, Shonubi also held prominent roles in MBC International as Deputy General Manager, First City Monument Bank Limited as Vice President, and Ecobank Nigeria Limited as an Executive Director.
He has also worked at Citibank Nigeria Limited as the Head of Treasury Operations from 1990 to 1993.
Furthermore, he has actively contributed to various sub-committees of the Bankers’ Committee, including the Ethics and Professionalism sub-committee.