THE Board of Directors of Nigeria Inter-Bank Settlement System, NIBSS, Plc has appointed Mr. Folashodun Shonubi, the company’s new Managing Director and Chief Executive Officer, CEO.

The electronic payments and settlement company, also announced the appointment of two executive directors, EDs; Mr. Ezekiel Ajao, Executive Director, Technology  and Operations and Mrs. Christabel Onyejekwe, Executive Director, Business Development.

Shonubi, NIBSS new MD/CEO

The Board said these “appointments constitute a climax of the transformation project of NIBSS, and the company is now poised more than ever before to play its role as a financial market shared-service infrastructure, with strong potentials for effective collaboration with other stakeholders towards actualising the cash-less Lagos and cash-less Nigeria initiatives.”

Shonubi holds a master’s degree in Business Administration as well as in Mechanical Engineering, from the University of Lagos.

He is also a resourceful Information Technology-driven banker with over 19 years professional experience.

Prior to this appointment, 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. He 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) and served on a number of sub-committees of the Bankers’ Committee.

Meanwhile,  Mr. Ezekiel AJao, the new Executive Director, Technology & Operations, NIBSS; attended the University of Ife (now O.A.U.), and graduated with Combined Honours in Computer Science and Economics.

He holds an M.Sc. in Computer Sciences from the University of Lagos, MBA certificate of O.A.U., and attended the Advanced Management Programme of the Lagos Business School in 2011. He taught Computer Science and Mathematics at Ogun State University between 1986 and 1989, and has served as Associate Lecturer at the University of Lagos and Office Support Systems Manager at AIICO Insurance Plc.

He joined Gulf Bank of Nigeria Ltd as a pioneer staff in 1990 and later moved  to Societe Generale Bank where he rose to become Assistant General Manager (IT), before leaving for NIBSS.  Ajao joined NIBSS Plc as Deputy General Manager in 2001 and rose to the position of General Manager, Operations – a position he occupied before this appointment.

While at NIBSS, he has led the implementation of several industry projects notably – Nigeria Automated Clearing System, NIBSS Electronic Funds Transfer, Nigeria Central Switch, and the Cash-less Lagos infrastructure project.

Mrs. Christabel Onyejekwe – ED, Business Development is a professional banker who has held various positions in the Nigerian banking industry.

She holds an LLB Hons. from the University of Lagos and BL Hons from Nigeria Law School, and an MBA certificate in Banking and Finance.

Onyejekwe started her banking career in First Bank of Nigeria PLC and peaked in UBA PLC as a GM with over 20 years of core banking experience.


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