Godwin Emefiele, the governor of the Central Bank of Nigeria, was immediately removed from office and replaced by his deputy, Folashodun 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.
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Bassey explained that the suspension of the CBN governor is based on an ongoing investigation as well as because of a planned reform of the financial sector.
Folashodun Shonubi, the new acting CBN governor assumed the position of Operations Directorate on October 17, 2018.
He was born on the 7th of March, 1962.
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.
He was the Managing Director/CEO of the Nigeria Inter-Bank Settlement System PLC from 2012-2018.
Before he was appointed the Managing Director NIBSS PLC, Mr. Shonubi was Executive Director, Information Technology and Operations at Union Bank of Nigeria Plc; a member of the Board of Union Homes and Director, Information Technology and Corporate Services in Renaissance Securities Nigeria Limited, with responsibility for the Group’s IT infrastructure in Africa
Between 1999 and 2007, he worked in MBC International as Deputy General Manager and supervised their IT operational platforms, served in First City Monument Bank Limited as Vice President and in Ecobank Nigeria Limited as Executive Director.
Mr. Shonubi also had a stint with Citibank Nigeria Limited as its Head, Treasury Operations (1990-1993). He has served on a number of sub-committees of the Bankers’ Committee, including the Ethics and Professionalism sub-
committee.
