President Bola Ahmed Tinubu has tasked the Deputy Governor of Central Bank of Nigeria,(Operations Directorate),Mr. Folashodun Adebisi Shonubi who takes over the country’s apex financial institution in an acting capacity, following the suspension of the governor, Godwin Emefiele who is now in custody of Department of State Services (DSS)
Shonubi who had served in the deputy governor role since October 2018, represented the CBN governor on the FIRS Board since December 9, 2019, according to the website of the Federal Inland Revenue Service (FIRS)
The suspended governor according to a statement by the Public Relations Officer (PRO) of DSS, Peter Afunanya, on Saturday is now being investigated for certain reasons which may not be unconnected with his roles in the naira redesigning and naira swap policy which led to naira scarcity and untold hardship were subjected to, days to the February 25, 2023 presidential poll in the country
“The Department of State Services (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,” it said.
“The public, particularly the Media, is enjoined to apply utmost caution in the reportage and narratives concerning this", Afunaya cautioned
The suspension of the governor by the president is part of the economic reformed promised by the Tinubu's administration to reposition the financial sector , particularly the country's monetary policies which have been subject of controversy among key players in the economy
The acting governor of CBN who took over from Emefiele, was born on March 7, 1962, and later attended the University of 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 particular interest in Production Engineering from the same university.
From 1988 to 1989, he began his study in Finance and obtained a Masters’ in Business Administration specialising in Finance
Shonubi 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. Ltd as a Supervising Consultant from 1993 to 1996 from where he moved to MBC International Limited as Deputy General Manager, Banking Operations and Information Technology from 1999.
In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations and Information Technology and was there till 20In 2003, he moved from FCMB to Ecobank Nigeria Plc as an Executive Director, Operations and 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, from September 2009 to April 2012.
He then became the Managing Director/CEO, Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018, after which he became CBN deputy governor
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