Meet New CBN Acting Governor, Folashodun Adebisi Shonubi, Engineer, IT Expert, Banker

Newly appointed acting governor of the Central Bank of Nigeria (CBN) by President Bola Tinubu on Friday, Folashodun Adebisi Shonubi, is not your typical banker.

The CBN deputy governor (operations) trained as a mechanical engineer, went into marketing, moved into information technology — and became a central banker.

Sources claimed suspension of Godwin Emefiele as CBN governor was taken on Friday afternoon after a number of scenarios, including an outright sack, was contemplated.

However, presidential sources said a sack was considered legally complicated because of the CBN law which empowers only the senate to remove the governor by two-thirds majority.

By law, one of the deputies must complete Emefiele’s tenure, which expires May 2024.

The central bank has four deputy governors but Shonubi was considered above Aishah Ahmed, Edward Adamu, and Kingsley Obiora.

Who is the new acting CBN governor?

Folashodun Adebisi Shonubi, born on March 7, 1962, is a product of the University of Lagos.

He attended the university from 1978 to 1983, receiving a BSc in mechanical engineering before studying for an MSc in the same field at the same university.

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After working as a consultant engineer at Mek-ind Associates from 1984 to 1989, he changed his line of education and profession by studying for an MBA with focus on finance.

With an MBA in his hands, he moved into the IT industry which would later shape his career.

He was marketing executive at the Inlaks Computers Ltd from 1989 to 1990 and took a giant leap when he was appointed head of treasury operations at Citibank Nigeria Ltd in 1990.