Meet Folashodun Adebisi Shonubi, the CBN New Governor

Folashodun Adebisi Shonubi is a prominent figure in the Nigerian banking sector and currently serves as the Governor of the Central Bank of Nigeria (CBN).

Folashodun Adebisi Shonubi
Folashodun Adebisi Shonubi, the new appointed CBN Governor. He replaced Godwin Emefiele.

With an impressive career spanning decades, Shonubi has contributed significantly to the development and stability of Nigeria’s financial system.

Shonubi’s journey in the banking industry started with his early education in Nigeria.

He holds a Bachelor’s degree in Computer Science from the University of Lagos and a Master’s degree in Business Administration (MBA) from the University of Lagos as well.

Equipped with a strong educational background, he entered the banking sector and quickly established himself as a skilled and visionary professional.

Before assuming his role as Deputy Governor of the CBN, Shonubi held various key positions in both the private and public sectors.

He served as an Executive Director at Union Bank of Nigeria Plc, where he played a vital role in driving the bank’s digital transformation initiatives and improving operational efficiency.

However, Shonubi’s most notable position prior to his appointment at the CBN was as the Managing Director of the Nigeria Inter-Bank Settlement System Plc (NIBSS).

During his tenure at NIBSS, he implemented innovative and modernized systems that revolutionized payment processing and financial transactions in Nigeria.

Under his leadership, NIBSS achieved significant milestones, including the successful implementation of the Nigeria Automated Clearing System (NACS), which streamlined the clearing and settlement process for interbank transactions.

As Deputy Governor of the CBN, Shonubi has been entrusted with crucial responsibilities related to the stability and regulation of Nigeria’s financial system.

He works closely with the former CBN Governor, Emefiele and other policymakers to develop and implement effective monetary policies, oversee banking operations, and ensure the overall soundness of the financial sector. Shonubi’s expertise in technology and his experience in payment systems have also been instrumental in advancing financial inclusion efforts in Nigeria, fostering digital innovation, and promoting a cashless economy.

Throughout his career, Folashodun Adebisi Shonubi has consistently demonstrated his commitment to driving positive change in the Nigerian banking industry. With his strategic vision, strong leadership, and deep understanding of financial systems, he continues to contribute to the growth and stability of Nigeria’s economy while actively pursuing initiatives to enhance financial inclusion and technological advancements in the country.

Folashodun Adebisi Shonubi is now the new Governor of the Central Bank of Nigeria (CBN). He was appointed to the position on June 9, 2023, by President Bola Ahmed Tinubu. Shonubi has extensive experience in the banking sector and has held several key positions throughout his career.

Prior to his appointment as Governor of the CBN, he served as the duty Governor of the CBN.

Shonubi’s responsibilities as the Governor of the CBN include overseeing the operations of the financial system and implementing monetary policies to ensure the stability of Nigeria’s financial sector.

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