BREAKING NEWS! TINUBU SUSPENDS GODWIN EMEFIELE FROM OFFICE

10/06/23

SHINA JO

Nigeria’s President Bola Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office

According to a statement issued by the Director information office of the Secretary to the Government of the Federation Willie Bassey, The Suspension is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.

The Statement added that the President directed Emefiele to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms.

Godwin Emefiele, has been arrested by the Department of State Services, DSS.

The arrest was reported shortly after President Bola Tinubu suspended Emefiele due to the ongoing investigation of his office.

The
Deputy Governor, Operations Directorate and CBN Deputy Governor Folashodun Adebisi Shonubi, has taken over from Godwin Emiefele as acting governor of Nigeria’s apex bank.

The DSS had sought an order on December 7, 2022 to arrest the CBN Governor, Godwin Emefiele, in an exparte application with reference no FHC/ABJ/CS/2255/2022.

His
Deputy Governor, Operations Directorate and CBN Deputy Governor Folashodun Adebisi Shonubi, has taken over from Godwin Emiefele as acting governor of Nigeria’s apex bank.

Folashodun Adebisi Shonubi holds double Masters Degrees in Business Administration and Mechanical Engineering, from University of Lagos and a resourceful Banker with over 30 years professional experience.

Prior to his appointment as Deputy Governor in the Central Bank of Nigeria, he was the Managing Director/CEO in the Nigeria Inter-Bank Settlement System PLC from 2012 – 2018.

He was also the Managing Director NIBSS PLC, and 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

Between 1999 and 2007, he worked in MBC International as Deputy General Manager and supervised their IT operational platforms, served in First City Monument Bank Limited as Vice President and in Ecobank Nigeria Limited as Executive Director.

Shonubi also had a stint with Citibank Nigeria Limited as its Head, Treasury Operations between 1990-1993.