Following the suspension of Godwin Emefiele as Central Bank of Nigeria (CBN) governor, President Bola Ahmed Tinubu appointed Mr Folashodun Adebisi Shonubi as acting Governor.
A statement signed by Wilson Bassey, a director of Information at the office of the Secretary to the Government of the Federation (SGF), had directed Mr Emefiele to hand over to Shonubi with immediate effect.
In effect, Shonubi will superintend the investigation of Emefiele’s activities as CBN governor, especially his recent controversial reform of the currency and the naira redesign and re-issuance process in the last one year.
Having been in the system and represented the embattled CBN governor on the Board of the Federal Inland Revenue (FIRS), there is no doubt that the newly appointed acting CBN governor knows where the corpses are buried.
Here are six things to know about the new acting CBN governor:
1. Folashodun Adebisi Shonubi has had a fruitful career in the financial world that has spanned over three decades. Until his appointment as acting CBN governor, he was Deputy Governor, Operations of the apex bank, a position he assumed on October 17, 2018 and has been representing the CBN governor on the Board of the Federal Inland Revenue Service (FIRS) since the 9th of December, 2019.
2. He has also served on a number of sub-committees of the Bankers’ Committee, including the Ethics and Professionalism sub-committee.
3. Prior to his appointment as Deputy Governor in the Central Bank of Nigeria, Shonubi was the Managing Director/Chief Executive Officer of the Nigeria Inter-Bank Settlement System from May 2012 to October 2018.
4. Shonubi, who was born on the 7th of March, 1962, attended the University of Lagos from 1978 to 1983 where he obtained Bachelor of Science degree in Mechanical Engineering. He further obtained a Master of Science in Mechanical Engineering in 1985 with specialisation in Production Engineering from the same University. He later moved over to Finance and obtained a Masters’ in Business Administration between 1988 and 1989.
5. 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.
6. Shonubi had his stint in banking when worked at Citibank Nigeria Limited as Head, Treasury Operations from 1990 to 1993. After working with Agusto & Co. Ltd as a Supervising Consultant from 1993 to 1996, he moved to MBC International Limited where he served as Deputy General Manager, Banking Operations and Information Technology. In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology and was there till 2002.
Between 2003 and 2012, Shonubi worked in Ecobank Nigeria Plc as an Executive Director, Operations and Information Technology; Director, Information Technology and Corporate Services; Renaissance Securities Nigeria Limited( 2007); Executive Director, Operations, Technology and Services, September, Union Bank of Nigeria Limited (2009 to April 2012).
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