Folashodun Shonubi: The New Acting CBN Governor

The acting governor of the Central Bank of Nigeria (CBN) is now Folashodun Adebisi Shonubi.

On March 7, 1962, Shonubi was born. He earned a Bachelor of Science in Mechanical Engineering at the University of Lagos between 1978 and 1983.

He then earned a Master of Science in Mechanical Engineering from the same university in 1985 with a focus on Production Engineering.

In 1988 and 1989, he changed his major to finance and earned a master’s degree in business administration with a finance concentration. He started his career from 1984 to 1989 as a Consultant Engineer at Mek-ind Associates. He worked for Inlaks Computers Limited as a marketing executive from 1989 until 1990.

From 1990 until 1993, he worked at Citibank Nigeria Limited as the Head of Treasury Operations. From 1993 to 1996, he worked as a Supervising Consultant at Agusto & Co. Ltd. From there, he transferred to MBC International Limited as the company’s Deputy General Manager, Banking Operations & Information Technology, starting in 1999. He began working for First City Monument Bank (FCMB) Limited in 1999 as Vice-President, Operations & IT, and remained there through 2002.

He changed jobs from Executive Director, Operations & Information Technology at FCMB to Executive Director, Information Technology and Corporate Services at Ecobank Nigeria Plc in 2003. In 2007, he joined Renaissance Securities Nigeria Limited as Director, Information Technology and Corporate Services. From September 2009 to April 2012, he worked as an Executive Director, Operations, Technology, and Services for Union Bank of Nigeria Limited.

From May 2012 to October 2018, he served as the company’s managing director and chief executive officer. Mr Folashodun has served as the Deputy Governor, Operations, of the Central Bank of Nigeria (CBN) since October 2018, and as of December 9th, 2019, he has represented the Governor of the CBN on the Board of FIRS. He has a wife and kids.