• Sat. Sep 30th, 2023

Acting governor of CBN, Folashodun Shonubi: A Profile


Jun 10, 2023

The newly appointed acting governor of the Central Bank of Nigeria (CBN), Folashodun Adebisi Shonubi was born on March 7, 1962.

Until his appointment, following the suspension of the substantive governor of CBN, Godwin Emefiele, Shonubi was the Deputy Governor in charge of Operations Directorate. 

Described as a resourceful Information Technology-driven banker and engineer with over 22 years professional experience, Shonubi attended the University of Lagos between 1978 and 1983 where he obtained a Bachelor of Science in Mechanical Engineering.

In 1985, he obtained a Master of Science in Mechanical Engineering with bias in Production Engineering from the same university. 

Between 1988 and 1989, he obtained a Masters’ in Business Administration specialising in Finance.

Between 1984 and 1989, he worked as a Consultant Engineer at Mek-ind Associates, before joining Inlaks Computers Limited as a Marketing Executive between 1989 and 1990. 

He moved to Citibank Nigeria Limited as Head, Treasury Operations between 1990 and  1993, before joining Agusto & Co. Ltd as a Supervising Consultant between 1993 and 1996 and later to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology from 1999. 

In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology until 2002. He has served on a number of sub-committees of the Bankers’ Committee, including the Ethics and Professionalism sub-committee.

In 2003, he moved from FCMB to Ecobank Nigeria Plc as an Executive Director, Operations & Information Technology before being appointed the Director, Information Technology and Corporate Services, Renaissance Securities Nigeria Limited in 2007. 

He was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology and Services between September 2009 and April 2012.

Between May 2012 and October 2018, he worked as the Managing Director/CEO, Nigeria Inter-Bank Settlement System Plc before being appointed the Deputy Governor, Operations of the CBN representing the Governor of the CBN on the Board of Federal Inland Revenue Service (FIRS) since the December 9, 2019. 

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