Folashodun Shonubi Biography
Mr. Folashodun Shonubi, a prominent player in the banking and finance industry in Nigeria. We will go into detail about his educational history, professional development, and standout career accomplishments. Mr. Folashodun Shonubi’s journey from his early days as a Mechanical Engineering student to his current role as the Deputy Governor of Operations at the Central Bank of Nigeria (CBN) is one of tenacity, know-how, and dedication.
Folashodun Shonubi Early Life and Education
Between 1978 and 1983, Shonubi completed his studies at the University of Lagos, earning a BSc and MSc in Mechanical Engineering as well as an MSc in Business Administration with a focus on Finance between 1988 and 1989. His initial job was as a consultant engineer at Mek-ind Associates from 1984 to 1989. He then moved on to work as a marketing executive at Inlaks Computers Limited.
Shonubi headed Citibank’s Treasury Operations from 1990 to 1993 before moving on to serve as vice president of First City Monument Bank and executive director of Ecobank Nigeria Limited. He served as deputy general manager of MBC International from 1999 to 2007. He worked for Union Bank of Nigeria Limited from 2009 until 2012 as an executive director, operations, technology, and services.[3] He served as the managing director and chief executive officer of the Nigeria Inter-Bank Settlement System PLC from 2012 till his appointment as the deputy governor of the CBN (Operations Directorate).
After Godwin Emefiele was suspended on June 9th, 2023, President Bola Ahmed Tinubu named him as Godwin Emefiele’s replacement as acting governor of the Central Bank of Nigeria.
Professional Journey
Consultant Engineer at Mek-ind Associates
Mr. Shonubi started his professional career as a Consultant Engineer at Mek-ind Associates from 1984 until 1989. He demonstrated his technical knowledge and problem-solving abilities throughout his employment, making a positive impact on his coworkers and superiors.
Marketing Executive at Inlaks Computers Limited
Mr. Shonubi made a bold move into the technology sector in 1989 when he joined Inlaks Computers Limited as a marketing executive. He was able to combine his engineering training with marketing tactics in this capacity, resulting in a dynamic fusion of technical expertise and business savvy.
Head, Treasury Operations at Citibank Nigeria Limited
From 1990 until 1993, Mr. Shonubi worked as the Head of Treasury Operations for Citibank Nigeria Limited. His stint with Citibank allowed him to hone his financial abilities and obtain useful experience in managing treasury operations, which helped him further his knowledge of the banking industry.
Supervising Consultant at Agusto & Co. Ltd
From 1990 until 1993, Mr. Shonubi worked as the Head of Treasury Operations for Citibank Nigeria Limited. His stint with Citibank allowed him to hone his financial abilities and obtain useful experience in managing treasury operations, which helped him further his knowledge of the banking industry.
Vice-President, Operations & Information Technology at First City Monument Bank (FCMB) Limited
Mr. Shonubi joined First City Monument Bank (FCMB) Limited in 1999 as Vice-President of Operations & Information Technology, building on his prior skills. His influence on the bank’s operational strategy and the adoption of cutting-edge technology innovations during his time there cemented his position as a thought leader in the industry.
Executive Director, Operations & Information Technology at Ecobank Nigeria Plc
Mr. Shonubi left Ecobank Nigeria Plc in 2003 to become an Executive Director at Ecobank Nigeria Plc, where he was in charge of operations and IT. His depth of knowledge and proficiency in these fields made him a priceless asset to the company and helped it expand and succeed.
Director, Information Technology and Corporate Services at Renaissance Securities Nigeria Limited
Mr. Shonubi began working with Renaissance Securities Nigeria Limited in 2007 as the Director of Corporate Services and Information Technology. He led the business’s IT projects and oversaw corporate services in this capacity, showcasing his adaptability and versatility in many settings.
Executive Director, Operations, Technology and Services at Union Bank of Nigeria Limited
Mr. Shonubi worked for Union Bank of Nigeria Limited as the Executive Director of Operations, Technology, and Services from September 2009 to April 2012. He was instrumental in modernizing the bank’s operations during his time there by utilizing technology to improve service delivery and streamline processes.
Managing Director/CEO, Nigeria Inter-Bank Settlement System Plc
Mr. Shonubi became the Managing Director and Chief Executive Officer of Nigeria Inter-Bank Settlement System Plc (NIBSS) in May 2012. Under his direction, NIBSS saw rapid expansion and significantly contributed to the transformation of the nation’s electronic payment infrastructure.
Deputy Governor, Operations of the Central Bank of Nigeria
Mr. Folashodun Shonubi has been the Central Bank of Nigeria’s (CBN) Deputy Governor, Operations, since December 9th, 2019. In this capacity, he sits on the Federal Inland Revenue Service (FIRS) Board on behalf of the Governor of the Central Bank of Nigeria. His skills, knowledge, and commitment are still helping to keep the Nigerian economy strong and expanding.
Conclusion
The extraordinary rise of Mr. Folashodun Shonubi from an engineering student to a leading position in the banking and finance industry exemplifies his unrelenting dedication to both professional and personal improvement. He has held a number of important positions during his career, making a significant contribution to the companies he has worked for. He continues to contribute to the growth and performance of the Nigerian financial system in his role as the Central Bank of Nigeria’s Deputy Governor, Operations.
What is Mr. Folashodun Shonubi’s educational background?
The University of Lagos offered Mr. Folashodun Shonubi a Bachelor of Science in Mechanical Engineering, which he then followed up with a Master of Science in Mechanical Engineering with a focus on Production Engineering. He also earned a Master of Business Administration with a Finance concentration.
Which notable positions has Mr. Folashodun Shonubi held throughout his career?
In response, Mr. Folashodun Shonubi has held a number of illustrious roles, including Managing Director/CEO of Nigeria Inter-Bank Settlement System Plc, Executive Director at Ecobank Nigeria Plc, and Executive Director at Union Bank of Nigeria Limited. He is currently the Central Bank of Nigeria’s Deputy Governor of Operations.
What is Mr. Folashodun Shonubi’s current role?
The Central Bank of Nigeria’s (CBN) Deputy Governor for Operations is Mr. Folashodun Shonubi. On the board of the Federal Inland Revenue Service (FIRS), he represents the Governor of the Central Bank of Nigeria.
How has Mr. Folashodun Shonubi contributed to the banking and finance sector in Nigeria?
Through his leadership positions in numerous organizations, Mr. Folashodun Shonubi has made a substantial contribution to the banking and finance sector in Nigeria. He has been a major force behind operational excellence, the adoption of cutting-edge technologies, and the sector’s general expansion and development.
Where is folashodun shonubi from?
Nigerian economist Folashodun Shonubi serves as the Central Bank of Nigeria’s acting governor at the moment.
