President Tinubu Sacks Godwin Emefiele As CBN Governor, Folashodun Shonubi Takes Over

President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, from office with immediate effect.

Folashodun Adebisi Shonubi has been named as Acting Central Bank of Nigeria (CBN) Governor.

The CBN Deputy Governor, Operations is taking over from Godwin Emefiele who was suspended by President Bola Ahmed Tinubu on Friday due to ongoing investigation.

Mr. Folashodun Adebisi was born on the 7th of March, 1962. He attended the University of Lagos from 1978 to 1983 and obtained a Bachelor of Science in Mechanical Engineering. He further obtained a Master of Science in Mechanical Engineering in 1985 with bias in Production Engineering from the same University. From 1988-1989 he shifted grounds to Finance and obtained a Masters’ in Business Administration specializing in Finance.

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.

He moved to Citibank Nigeria Limited as Head, Treasury Operations from 1990 to 1993. He joined Agusto & Co. Ltd as a Supervising Consultant from 1993 to 1996 from where he moved to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology and in 2007 he became the Director, Information Technology and Corporate Services, Renaissance Securities Nigeria Limited.

Shonubi joined Union Bank in 2009 as an Executive Director, Operations, Technology and Services,/.

He became the Managing Director/CEO, Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018.

Folashodun Shonubi later joined CBN in October 2018 as the Deputy Governor, Operations. He is married with children.