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Meet Folashodun Shonubi: The acting CBN Governor
Folashodun Shonubi is the current acting Governor of the Central Bank of Nigeria (CBN). With a background in engineering and finance, he brings valuable expertise to his role.
Who is Folashodun Shonubi?
Folashodun Shonubi is the current Acting Governor of the Central Bank of Nigeria (CBN). He was appointed to this position recently. Shonubi is responsible for overseeing the operations and policies of Nigeria’s apex financial institution. He has a wealth of experience in the banking sector and a strong educational background.
Biography and Education
Folashodun was born on March 7, 1962, Shonubi attended the University of Lagos from 1978 to 1983, where he studied Mechanical Engineering. He then pursued further education at the same university, earning a Master of Science degree in Mechanical Engineering with a focus on Production Engineering in 1985.
Shonubi also obtained a Master’s in Business Administration (MBA) specializing in Finance from 1988 to 1989, with his educational foundation, Shonubi embarked on a successful career.
Career
He started as a Consultant Engineer at Mek-ind Associates from 1984 to 1989. Following that, he worked as a Marketing Executive at Inlaks Computers Limited from 1989 to 1990. Shonubi then joined Citibank Nigeria Limited as the Head of Treasury Operations from 1990 to 1993.
Throughout his career, Shonubi held various positions of responsibility. He served as a Supervising Consultant at Agusto & Co. Ltd from 1993 to 1996 before joining MBC International Limited as the Deputy General Manager in charge of Banking Operations and Information Technology in 1999.
Shonubi later became the Vice-President of Operations and Information Technology at First City Monument Bank (FCMB) Limited, a position he held until 2002.
Over the years, Shonubi continued to make significant contributions to the banking industry. He served as an Executive Director overseeing Operations and Information Technology at Ecobank Nigeria Plc in 2003.
Subsequently, he assumed the role of Director of Information Technology and Corporate Services at Renaissance Securities Nigeria Limited in 2007. From September 2009 to April 2012, Shonubi served as an Executive Director responsible for Operations, Technology, and Services at Union Bank of Nigeria Limited.
In May 2012, Shonubi became the Managing Director and CEO of Nigeria Inter-Bank Settlement System Plc, where he made valuable contributions until October 2018. Since October 2018, he has held the position of Deputy Governor, Operations, at the Central Bank of Nigeria (CBN), representing the CBN Governor on the Board of the Federal Inland Revenue Service (FIRS) since December 9, 2019.
The acting CBN Governor
Folashodun Adebisi Shonubi has taken on the role of acting governor of the Central Bank of Nigeria (CBN) after the suspension of Godwin Emefiele.
His appointment was confirmed on June 9, 2023, just days after President Bola Tinubu met with Emefiele in Aso Rock.
Shonubi has swiftly assumed the responsibility, as instructed by the office of the Secretary to the Government of the Federation (SGF). He now holds a crucial position in shaping the country’s monetary policies under the new administration.
His appointment showcases his expertise and dedication to the country’s financial sector. With his wealth of experience and strong leadership skills, Shonubi is well-positioned to guide the CBN in achieving its objectives.
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