Shonubi is Ag. CBN Governor as DSS confirms Emefiele in custody for ‘investigative reasons’

*President Bola Ahmed Tinubu has appointed Folashodun Adebisi Shonubi, Deputy Governor, Operations, at the Central Bank of Nigeria, as the Acting Governor of the Bank, following CBN Governor Godwin Emefiele’s suspension from office Friday, June 9, 2023

Isola Moses | ConsumerConnect

Sequel to President Bola Ahmed Tinubu’s suspension of Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), Friday, June 9, 2023, Mr. Folashodun Adebisi Shonubi, Deputy Governor, Operations at CBN, is now the Acting Governor of the Bank.

ConsumerConnect had reported that President Tinubu Friday ordered Emefiele’s suspension from office, pending the conclusion of an ongoing investigation of his office and certain reform in the monetary policy of the West African country.

Shonubi at a glance

Mr. Shonubi, the Acting Governor of CBN, was born March 7, 1962.

He attended the University of Lagos (UNILAG), Akoka-Yaba, Lagos, from 1978 to 1983 and obtained a Bachelor of Science in Mechanical Engineering.

He further obtained a Master of Science in Mechanical Engineering in 1985 with bias in Production Engineering from the same University.

From 1988-1989, Shonubi studied Finance, and obtained a Master of Business Administration (MBA), specialising in Finance.

He began his working experience as a Consultant Engineer at Mek-ind Associates and worked from 1984 to 1989.

From 1989 to 1990, he was a Marketing Executive at Inlaks Computers Limited.

He moved to Citibank Nigeria Limited as Head, Treasury Operations from 1990 to 1993.

He joined Agusto & Co. Limited as a Supervising Consultant from 1993 to 1996 from where he moved to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology from 1999.

In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology and was there till 2002.

In 2003, he moved from FCMB to Ecobank Nigeria Plc as an Executive Director, Operations & Information Technology and in 2007 he became the Director, Information Technology and Corporate Services, Renaissance Securities Nigeria Limited. He was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology and Services, September 2009 to April 2012.

He became the Managing Director/Chief Executive Officer (CEO), Nigeria Inter-Bank Settlement System (NIBSS) Plc from May 2012 to October 2018.

From October 2018 till June 9, Folashodun was the Deputy Governor, Operations of the Central Bank of Nigeria, representing the Governor of the Central Bank of Nigeria on the Board of FIRS since December 9, 2019.

He is married with children.

President Tinubu appointed him June 9, 2023, as Acting Governor of the CBN.

DSS confirms Emefiele is in custody

Meanwhile, after initial reported denial of the secret police outfit about the suspended CBN Governor’s whereabouts, the Department of State Service (DSS) Saturday, June 10 affirmed Emefiele’s arrest for interrogation after his suspension from office Friday, by the President.

Peter Afunanya, PhD, fsi,

Public Relations Officer (PRO) of DSS, in a statement issued Saturday, June 10 from the National Headquarters, Abuja, FCT, disclosed the DSS “hereby  confirms that Mr. Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN) is now in its custody for some investigative reasons.”

Afunanya also stated the public, “particularly the media, is enjoined to apply utmost caution in the reportage and narratives concerning this.”

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