June 10, 2023

Meet Folashodun Shonubi, IT expert, banker, UNILAG graduate acting as CBN gov

Meet Folashodun Shonubi, IT expert, banker, UNILAG graduate acting as CBN gov

Folashodun Adebisi Shonubi, the Deputy Governor (operations) of the Central Bank of Nigeria (CBN) was appointed as the acting governor of the apex bank by President Bola Tinubu on Friday.

Recall that President Tinubu suspended Godwin Emefiele late Friday and directed him to immediately hand over to the Shonubi.

Here is everything you need to know about the acting governor of the CBN.

Trained as a mechanical engineer, Shonubi went into marketing, moved into information technology — and became a central banker.

Although the CBN has four deputy governors, Shonubi was considered above Aishah Ahmed, Edward Adamu, and Kingsley Obiora.

Born on March 7, 1962, Shonubi attended the University of Lagos, Akoka, from 1978 to 1983, receiving a BSc in mechanical engineering, before studying for an MSc in the same field at the same university.

Shonubu worked as a consultant engineer at Mek-ind Associates from 1984 to 1989. He changed his line of education and profession by studying for an MBA with a focus on finance.

With an MBA in his hands, he moved into the IT industry which would later shape his career.

A marketing executive at Inlaks Computers Ltd from 1989 to 1990, Shonubi took a giant leap when he was appointed head of treasury operations at Citibank Nigeria Ltd in 1990.

In 1993, he moved to Agusto & Co. Ltd as a supervising consultant, working there for three years before joining MBC International Ltd as deputy general manager, banking operations and IT.

In 1999, he was on the move yet again, taking up the position of vice-president, operations and information technology at the First City Monument Bank (FCMB) Ltd.

Shonubi left FCMB in 2003 for Ecobank Nigeria Plc, where he became executive director, of operations and information technology.

He was also director of information technology and corporate services at Renaissance Securities Nigeria Ltd as well as executive director of operations, technology and services at Union Bank of Nigeria Ltd from 2009 to 2012.

Prior to his appointment to CBN in October 2018 by President Muhammadu Buhari, he was MD/CEO of the Nigeria Inter-Bank Settlement System (NIBSS).

Shonubi remains the chief central banker of Africa’s biggest economy, pending the appointment of a new CBN governor or likely recall of Emefiele.