Buhari names Shonubi as deputy gov Central Bank

President Muhammadu Buhari has approved the nomination of Mr Folashodun Adebisi Shonubi as Deputy Governor at the Central Bank of Nigeria (CBN), subject to Senate confirmation. Shonubi replaces Adebayo Adelabu, who resigned last week to take part in politics in Oyo state.

Shonubi is at present the Managing Director of the Nigeria Inter-Bank Settlement System Plc (NIBSS), the financial payments, facilitation and settlement platform. NIBSS has been instrumental to the growth in electronic payments in the Nigerian financial industry. Before assuming the headship of NIBBS in 2012, Shonubi had garnered decades of executive-level experience in financial service operations, notably as Executive Director at Union Bank of Nigeria Plc, Renaissance Securities Nigeria Ltd and Ecobank Nigeria Plc.

On the website of NIBBS, he is described as an Information Technology-driven banker with over 22 years professional experience. Prior to his appointment as the Managing Director of NIBSS Plc., Mr. Shonubi was Executive Director, Information Technology and Operations at Union Bank of Nigeria Plc; a member of the Board of Union Homes and Director Information Technology and Corporate Services in Renaissance Securities Nigeria limited, with responsibility for the Group’s IT infrastructure in Africa.

Mr. Shonubi also had a stint with Citibank Nigeria Limited as its Head, Treasury Operations (1990-1993).  Between 1999 and 2007, he worked in MBC International as Deputy General Manager and supervised their IT operational platforms. He served in First City Monument Bank Limited as Vice – President and in Ecobank Nigeria Limited as Executive Director. He has served on a number of sub-committees of the Bankers’ Committee, including the Ethics and Professionalism sub-committee. Shonubi holds double Masters Degree respectively in Business Administration and Mechanical Engineering, from University of Lagos.