The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has been placed on administrative leave by President Bola Tinubu.
His suspension was announced by the Office of the Secretary to the Government of the Federation.
Willie Bassey, the SGF office’s director of information, stated in a statement on Friday that the suspension is effective right away.
The Deputy Governor (Operations Directorate) was instructed to take over the business of the office from the suspended Emefiele right away.
The Deputy Governor (Operations Directorate) is Mr. Folashodun Adebisi Shonubi, a Board Member, according to research done by The Nation on the CBN website.
According to the SGF office’s head of information, Shonubi will serve as the Central Bank Governor. He has been in office as of today, October 17, 2018.
Shonubi has a double master’s degree from the University of Lagos, in mechanical engineering and business administration, respectively.
He has worked as a banker for more than 30 years.
He served as the managing director and chief executive officer of the Nigeria Inter-Bank Settlement System PLC from 2012 to 2018 before being appointed deputy governor of the Central Bank of Nigeria.
Mr. Shonubi held a number of positions before being appointed managing director of NIBSS PLC, including executive director of information technology and operations at Union Bank of Nigeria Plc, director of information technology and corporate services at Renaissance Securities Nigeria Limited, and director of information technology and corporate services with oversight of the group’s IT infrastructure in Africa.
He worked for MBC International between 1999 and 2007 where he oversaw their IT operational platforms. He also held vice president positions at First City Monument Bank Limited and executive director positions at Ecobank Nigeria Limited.
Shonubi also served as the Head, Treasury Operations for Citibank Nigeria Limited from 1990 to 1993.
He has participated in several Bankers’ Committee subcommittees, including the Ethics and Professionalism subcommittee.