Folashodun Shonubi
Folashodun Adebisi Shonubi | |
|---|---|
| Born | March 7, 1962 Nigeria |
| Occupation(s) | Economist, banker |
| Known for | Acting governor of the Central Bank of Nigeria (June–September 2023) |
Folashodun Adebisi Shonubi (born 7 March 1962) is a Nigerian economist who held the position of acting governor at the Central Bank of Nigeria from 9 June until 15 September 2023. Prior to this, he served as deputy governor responsible for the Operations Directorate under former CBN governor Godwin Emefiele, a role he relinquished in September 2023.
On 15 September 2023, Nigerian media reported that President Bola Ahmed Tinubu had dismissed all deputy governors of the CBN, including Shonubi, Aishah Ahmad, Edward Lametek Adamu, and Kingsley Obiora. This action followed the earlier suspension of Emefiele.
Life
Shonubi completed his studies at the University of Lagos from 1978 to 1983, obtaining both a BSc and MSc in Mechanical Engineering. He further enhanced his qualifications by earning an MBA with a focus on Finance between 1988 and 1989.
His professional journey began with consultancy work as an engineer at Mek-ind Associates from 1984 to 1989, alongside a marketing executive role at Inlaks Computers Limited. Between 1990 and 1993, he led Treasury Operations at Citibank. Subsequently, he occupied executive roles at First City Monument Bank and Ecobank Nigeria Limited. From 1999 to 2007, he was deputy general manager at MBC International.
Between 2009 and 2012, Shonubi served as executive director overseeing operations, technology, and services at Union Bank of Nigeria Limited. He later assumed the position of managing director and CEO at the Nigeria Inter-Bank Settlement System PLC before his appointment as deputy governor of the Central Bank of Nigeria in charge of operations.
Following the suspension of Godwin Emefiele, President Bola Ahmed Tinubu appointed Shonubi as acting CBN governor on 9 June 2023. Shonubi stepped down after the appointment of Yemi Cardoso as governor. Reports suggest that President Tinubu either dismissed or compelled the resignation of Shonubi along with other deputy governors. Initially appointed deputy governor by President Muhammadu Buhari in June 2018 and confirmed by the Senate in October that year, Shonubi was expected to be reappointed for an additional five-year term in October 2023 before his abrupt exit.
Awards
In acknowledgment of his impact on Nigeria’s economic and financial sectors, Shonubi received the prestigious National Honour of Commander of the Order of the Niger (CON).