In the wake of the suspension of Godwin Emefiele as central bank governor, President Bola Tinubu has appointed Mr. Folashodun Adebisi Shonubi is now acting CBN Governor.
The office of the SGF asked the suspended CBN Governor, Mr Emefiele to hand over to him with immediate effect.
President Muhammadu Buhari approved the nomination of Mr. Folashodun Adebisi Shonubi as Deputy Governor at the Central Bank of Nigeria (CBN) in June 2018 and he resumed office on the 17th of October under the Operations Directorate.
About Adebisi Shonubi
Mr. Folashodun Adebisi Shonubi holds a double Masters Degree respectively in Business Administration and Mechanical Engineering, from the University of Lagos.
- Prior to his appointment as Deputy Governor in the Central Bank of Nigeria, he was the Managing Director/CEO of the Nigeria Inter-Bank Settlement System PLC from 2012 – 2018.
- He is said to have been one of the major architect of the Bank Verification Number (BVN) in his time at NIBSS.
- Prior to his appointment as the Managing Director NIBSS PLC, 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 at 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, 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).
He has served on a number of sub-committees of the Bankers’Committee, including the Ethics and Professionalism sub-committee.
His recent voting on MPR Meetings
Mr. Shonubi has often chosen a hawkish monetary policy stand pushing for higher interest rates. For example, at the last MPR in November 2023 he voted for MPR tp be raised to 16.5% which was adopted.
At the January MPR, he voted for a 150 basis point hike in MPR from 16.5% to 18%. The members eventually voted for a 100 basis point increase to 17.5%.
At the March MPR, he also voted for a 50 basis point raise to 18% which was eventually adopted by the committee.
This is good enough if it goes well with the economy. Forward Nigeria!
Mr Henry Ekwuruke,you are blessed above all limitations,thanks for demonstrating a patriotic Nigerian,through your comment here.
The problem of Nigerian is lack of economical expert. Nigerian is a debited country with a sum of 100 trillion. Due to in appropriative economy deficiency Is our time to build the Economy. As a CBN Governor he is a capitalist the management of economy is under his control Now Nigerian is facing economy subsidy on a patro that all we believe as a critical time but their are solution .
Well congratulations Mr Adebisi, for the new appointment as the CBN governor. Nigeria need your
Total submission to your work and off greeds and criminal mindset in other for the economy to grow better. Your excellency president Tinubu. Money is not your problem any more . People think you will not be a good president. But show to them that you are a good leader and you have a good quality to rule Nigeria . Congratulations
This Acting governor is not an economist so how will he connect the dot to the Economy which affects the lives of over 180 Million poor Nigerians? Heey! I hope he is replaced with a competent qualified economist soonest.