With the suspension of the former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, the Deputy Governor, Operations Directorate, Folashodun Adebisi Shonubi has taken over.
How Godwin Emefiele Was Suspended as CBN Governor
NewStori understands that the decision to suspend Godwin Emefiele, the governor, was taken on Friday afternoon after a number of scenarios, including an outright sack, was contemplated.
However, presidential sources said a sack was considered legally complicated because of the CBN law which empowers only the senate to remove the governor by two-thirds majority.
Who Is Folashodun Adebisi Shonubi?
Shonubi is a resourceful banker with over thirty (30) years of professional experience.
The CBN deputy governor (operations) trained as a mechanical engineer, went into marketing, moved into information technology — and became a central banker.
Background of The New Acting CBN Governor
He is an alumnus of the University of Lagos (Unilag) where he bagged two Masters degree in Mechanical Engineering with bias in Production Engineering and Business Administration respectively.
He has been since October 2018, the Deputy Governor, Operations Directorate and prior to this had been the MD/CEO of the Nigeria Inter-Bank Settlement System (NIBSS) Plc from 2012 till 2018.
Mr. Shonubi was assumed the position of the Executive Director, Information Technology and Operations at Union Bank of Nigeria Plc just before he was at the NIBSS.
Between 1999 and 2007, he worked with MBS International and was the Deputy General Manager where he supervised the IT operational platforms then went on to serve at First City Monument Bank (FCMB) as the Vice President then moved to Ecobank Nigeria Limited as the Executive Director.
From 1990 to 1993, he worked at Citibank Nigeria as the Head, Treasury Operations.
He has also served on a number of sub-committees of the bankers committee including the Ethics and Professional Committee.
He also represents the CBN on the board of Federal Inland Revenue Service (FIRS) since the 9th of December 2019.
He attended the University of Lagos from 1978 to 1983 where he obtained a Bachelor of Science in Mechanical Engineering.
Shonubi was born on the 7th of March 1962 and he is married with children.