Meet Acting Governor of the CBN, Folashodun Shonubi.

Folashodun Adebisi Shonubi has been named acting governor of the Central Bank of Nigeria (CBN), holding a significant position in the financial system of the nation.

Shonubi, who was born on March 7, 1962, is a seasoned professional. From 1978 to 1983, he completed his undergraduate education at the University of Lagos, earning a Bachelor of Science in Mechanical Engineering. In 1985, he continued his studies at the same university to get a Master of Science in Mechanical Engineering with a focus in Production Engineering.

In 1988 and 1989, Shonubi changed his direction and completed a Master’s degree in Business Administration with a specialty in Finance. His academic experience gave him a solid platform for his subsequent professional activities.

Beginning in 1984 and lasting until 1989, Shonubi’s career was as a Consultant Engineer at Mek-ind Associates. He then worked for Inlaks Computers Limited from 1989 to 1990 as a marketing executive. He joined Citibank Nigeria Limited in 1990 as Head of Treasury Operations, where he made important contributions up till 1993.

His knowledge and commitment brought him to Agusto & Co. Ltd, where from 1993 to 1996 he served as a Supervising Consultant. From 1999 until 2002, Shonubi worked for MBC International Limited as the Deputy General Manager, Banking Operations & Information Technology. His standing in the banking industry was further enhanced in 1999 when he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology.

Shonubi joined Ecobank Nigeria Plc in 2003 as an executive director in charge of operations and IT. Because of his expertise, Renaissance Securities Nigeria Limited appointed him director of information technology and corporate services in 2007. He worked in Union Bank of Nigeria Limited as an Executive Director, Operations, Technology, and Services from September 2009 to April 2012.

When Shonubi acquired the role of Managing Director/CEO of Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018, his leadership abilities were crucial. Additionally, he has been the Deputy Governor, Operations of the Central Bank of Nigeria (CBN) since December 9, 2019, and he represents the Governor of the CBN on the board of the Federal Inland Revenue Service (FIRS).

Beyond his career accomplishments, Shonubi is a married father of two. His selection as the Central Bank of Nigeria’s interim governor demonstrates the faith and confidence instilled in him to lead the country’s financial industry during this turbulent time.