The New Acting Governor of the Central Bank of Nigeria

Introducing Folashodun Shonubi: The New Acting Governor of the Central Bank of Nigeria

Folashodun Adebisi Shonubi has assumed the esteemed role of Acting Governor of the Central Bank of Nigeria (CBN), marking a significant milestone in his illustrious career. Born on the 7th of March, 1962, Shonubi’s journey to this prestigious position is adorned with remarkable educational achievements and a wealth of professional experiences.

Shonubi embarked on his academic pursuits at the prestigious University of Lagos, where he immersed himself in the realm of knowledge from 1978 to 1983. With a steadfast commitment to his studies, he obtained a Bachelor of Science degree in Mechanical Engineering, laying a solid foundation for his future endeavors. Fueling his thirst for knowledge, Shonubi further honed his skills by pursuing a Master of Science degree in Mechanical Engineering with a specialization in Production Engineering in 1985, still at the University of Lagos.

Driven by an innate curiosity and a desire to broaden his expertise, Shonubi shifted his focus to the world of finance from 1988 to 1989. During this time, he obtained a Masters in Business Administration with a specialization in Finance, adding a valuable financial acumen to his already impressive repertoire of skills.

Shonubi’s professional journey began as a Consultant Engineer at Mek-ind Associates, where he showcased his engineering prowess from 1984 to 1989. Eager to explore new horizons, he later assumed the role of Marketing Executive at Inlaks Computers Limited from 1989 to 1990, broadening his understanding of the technology landscape within the corporate realm.

In pursuit of greater challenges, Shonubi joined Citibank Nigeria Limited as the Head of Treasury Operations from 1990 to 1993, honing his financial expertise and contributing to the bank’s operations. His dedication and unwavering commitment to excellence led him to join Agusto & Co. Ltd as a Supervising Consultant from 1993 to 1996, where he leveraged his multifaceted skill set to provide valuable guidance and insights.

Ever the seeker of growth opportunities, Shonubi transitioned to MBC International Limited in 1999, assuming the role of Deputy General Manager, Banking Operations & Information Technology. He made a significant impact during his tenure, showcasing his leadership abilities and contributing to the bank’s operational efficiency. In 1999, he embarked on a new chapter, joining First City Monument Bank (FCMB) Limited as Vice-President of Operations & Information Technology, further solidifying his reputation as a dynamic and influential figure within the banking industry.

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In 2003, Shonubi ventured into new territory, joining Ecobank Nigeria Plc as an Executive Director, Operations & Information Technology. Embracing this leadership role, he made substantial contributions to the bank’s operational strategies and the integration of technology-driven solutions. His exceptional performance caught the attention of Renaissance Securities Nigeria Limited, leading to his appointment as the Director of Information Technology and Corporate Services in 2007.

Building upon his illustrious career, Shonubi was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology, and Services, serving from September 2009 to April 2012. During his tenure, he made significant advancements in operational excellence, technology integration, and customer service, leaving an indelible mark on the institution.

Shonubi’s expertise and leadership qualities were further recognized when he assumed the role of Managing Director/CEO of Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018. During his tenure, he spearheaded groundbreaking initiatives that enhanced the efficiency and security of interbank transactions, solidifying his reputation as an influential figure in the Nigerian banking landscape.

Continuing his journey of excellence, Shonubi assumed the esteemed position of Deputy Governor, Operations of the Central Bank of Nigeria (CBN) in October 2018. In this role, he represented the Governor of the Central Bank of Nigeria on the Board of the Federal Inland Revenue Service (FIRS), leveraging his extensive knowledge and expertise to contribute to key decision-making processes.

Beyond his professional achievements, Shonubi finds joy and fulfillment in his personal life. He is a devoted family man, cherishing the love and support of his spouse and children.

As Acting Governor of the Central Bank of Nigeria, Shonubi is poised to navigate the intricate world of finance, leveraging his comprehensive skill set and vast experience to guide the nation’s monetary policies. His remarkable journey, characterized by relentless pursuit of excellence, stands as a testament to his unwavering commitment to the Nigerian banking sector and the prosperity of the nation as a whole.