President Bola Tinubu has appointed Folashodun Shonubi as Acting Governor of the Central Bank of Nigeria, CBN.

Shonubi’s appointment follows the suspension of Godwin Emefiele as CBN governor on Friday night.

NAIJA LIVE TV reports Emefiele’s suspension was contained in a statement by the office of the Secretary to the Government of the Federation.

Emefiele was subsequently asked to hand over a Shonubi with immediate effect, pending the outcome of an ongoing investigation and reforms process.

Who is CBN Acting Governor, Folashodun Shonubi?

Shonubi is an experienced financial expert and Deputy Governor (Operations Directorate) of the Central Bank and is expected to assume the role of acting Governor with immediate effect.


He holds double Masters Degree in Business Administration and Mechanical Engineering, from University of Lagos.

Shunobi is a resourceful professional with over 30 years of professional experience.

Prior to his appointment as Deputy Governor in the Central Bank of Nigeria; he was the Managing Director/CEO in the Nigeria Inter-Bank Settlement System PLC from 2012 – 2018.

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 in Renaissance Securities Nigeria limited, with responsibility for the Group’s IT infrastructure in Africa.

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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

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