Buhari Appoints Shonubi as CBN Deputy Governor

By Dipo Olowookere

Managing Director of the Nigeria Inter-Bank Settlement System Plc (NIBSS), Mr Folashodun Adebisi Shonubi, has been appointed as Deputy Governor at the Central Bank of Nigeria (CBN).

Mr Shonubi, who heads the financial payments, facilitation and settlement platform, was appointed by President Muhammadu Buhari on Friday.

The platform headed by the appointee has been very instrumental to the growth in electronic payments in the Nigerian financial industry.

A statement issued yesterday by the Presidency disclosed that the appointment of Mr Shonubi is subject to a confirmation by the Senate.

Mr Shonubi is an expert in the financial industry having worked at various financial institutions in the country, including Union Bank of Nigeria Plc, Ecobank Nigeria, Renaissance Securities Nigeria Ltd and others.

Recall that recently, President Buhari formally accepted the disengagement of the Deputy Governor in charge of Operations at the CBN, Mr Adebayo Adelabu, with effect from July 15, 2018.

In a letter dated May 24, 2018 and personally signed by him, the President thanked Mr Adelabu for his services to the country and wished him the best in his future ambitions.

Mr Adelabu resigned from the apex bank to pursue a political career in Oyo State.

Mr Adelabu formally assumed duty as Deputy Governor at the CBN on April 9, 2014 and served at different times as Deputy Governor in charge of Financial System Stability (FSS), Corporate Services (CS), and lastly Operations (Ops), before he tendered his letter of disengagement.