Godwin Emefiele, the governor of the Central Bank of Nigeria, was immediately removed from office and replaced by his deputy, Folashodun Adebisi Shonubi, who would serve in that role for the time being.
Emefiele was suspended by President Bola Tinubu on Friday night. Willie Bassey, Director of Information, Office of the Secretary to the Government of the Federation, made the announcement of the suspension in a statement.
In this post, we will delve more into Mr. Folashodun Shonubi Biography and Career.
On March 7, 1962, Mr. Folashodun Shonubi was born. From 1978 to 1983, he studied at the University of Lagos, graduating with a Bachelor of Science in Mechanical Engineering.
The same university also awarded him a Master of Science in Mechanical Engineering in 1985 with a focus on Production Engineering. He changed his major to finance between 1988 and 1989, earning a master’s degree in business administration with a finance concentration.
Folashodun Shonubi Career:
- 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.
- From 1990 to 1993, he worked as the Head of Treasury Operations at Citibank Nigeria Limited. He worked at Agusto & Co. Ltd. from 1993 to 1996 as a Supervising Consultant before moving to MBC International Limited in 1999 to take the position of Deputy General Manager, Banking Operations & Information Technology. He began working for First City Monument Bank (FCMB) Limited in 1999 and held the position of Vice-President, Operations & Information Technology there till 2002.
- He transferred from FCMB to Ecobank Nigeria Plc in 2003 to serve as Executive Director, Operations & Information Technology. In 2007, he joined Renaissance Securities Nigeria Limited as Director, Information Technology and Corporate Services. From September 2009 to April 2012, he worked for Union Bank of Nigeria Limited as an Executive Director, Operations, Technology, and Services.
- From May 2012 to October 2018, he served as the CEO and Managing Director of Nigeria Inter-Bank Settlement System Plc. Mr. Folashodun has served as the Deputy Governor, Operations, of the Central Bank of Nigeria (CBN) since October 2018. He has represented the Governor of the CBN on the Board of FIRS since December 9, 2019. He is married and has kids.
- He was appointed acting governor of the Central Bank of Nigeria (CBN) on June 9, 2023.
Facts about Mr. Folashodun Adebisi:
- He holds a double Master’s Degree respectively in Business Administration and Mechanical Engineering, from the University of Lagos. He is a banker with over 30 year’s professional experience.
- From 2012 until 2018, he served as the managing director and CEO of the Nigeria Inter-Bank Settlement System PLC.
- Additionally, Mr. Shonubi held several positions prior to his appointment as managing director of NIBSS PLC, including executive director of information technology and operations at Union Bank of Nigeria Plc, director of information technology and corporate services at Renaissance Securities Nigeria Limited, and director of information technology and corporate services with oversight of the group’s IT infrastructure in Africa.
- He worked for MBC International between 1999 and 2007 where he oversaw their IT operational platforms. He also held vice president positions at First City Monument Bank Limited and executive director positions at Ecobank Nigeria Limited.
- In Conclusion, Mr. Shonubi served as the Head of Treasury Operations for Citibank Nigeria Limited from 1990 to 1993. He has participated in a variety of Bankers’ Committee subcommittees, including the Ethics and Professionalism subcommittee.