Operatives of the Department of State Security (DSS) have arrested Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN).
The embattled CBN Governor was arrested by the security agencies on Friday evening, shortly after his suspension by President Bola Ahmed Tinubu.
The president had directed that the suspension of Emefiele was with immediate effect.
He was further instructed to hand over the affairs of his office to the Deputy Governor (Operations Directorate), who will act as the CBN Governor, pending the conclusion of the investigation and the reforms.
The Office of the Secretary to the Government of the Federation had, in a press release, announced the suspension of Emefiele as the CBN Governor.
The indefinite suspension of Emefiele, as stated in the release, was sequel to an ongoing investigation of his office and planned reforms in the financial sector of the economy.
The three-paragraphed release, dated 9 June, 2023, was signed by the Director of Information, Willie Bassey, for the Secretary to the Government of the Federation
“President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, CFR, from office with immediate effect.
“This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy.
“Mr Emefiele has been directed 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,” it was stated in the release.
Who is the new acting CBN Governor?
Sequel to the suspension of Godwin Emefiele as the CBN Governor, the mantle of leadership of the apex bank fell on the Deputy Governor (Operations Directorate), Folashodun Adebisi Shonubi.
Shonubi, was directed to take over the affairs of the Bank, pending the conclusion of investigation and the reforms being carried out.
The new acting CBN Governor was born on the 7th of March, 1962.
He attended the University of Lagos from 1978 to 1983 and obtained a Bachelor of Science in Mechanical Engineering.
He further obtained a Master of Science in Mechanical Engineering in 1985 with bias in Production Engineering from the same university.
From 1988-1989, he shifted grounds to Finance and obtained a Masters’ in Business Administration, specialising in Finance.
Shonubi began his working career as a Consultant Engineer at Mek-ind Associates from 1984 to 1989.
Between 1989 and 1990, he was a Marketing Executive at Inlaks Computers Limited.
He moved to Citibank Nigeria Limited where he was the Head, Treasury Operations from 1990 to 1993.
He joined Agusto & Co. Limited as a Supervising Consultant from 1993 to 1996.
From there, Shonubi moved to MBC International Limited as Deputy General Manager, Banking Operations & Information Technology.
In 1999, he joined First City Monument Bank (FCMB) Limited as Vice-President, Operations & Information Technology and was there till 2002.
In 2003, he moved from FCMB to Ecobank Nigeria Plc as an Executive Director, Operations & Information Technology.
In 2007 he became the Director, Information Technology and Corporate Services, Renaissance Securities Nigeria Limited.
He was recruited by Union Bank of Nigeria Limited as an Executive Director, Operations, Technology and Services, September 2009 to April 2012.
He became the Managing Director/CEO, Nigeria Inter-Bank Settlement System Plc from May 2012 to October 2018.
From October 2018 until yesterday, he has been the Deputy Governor, Operations of the Central Bank of Nigeria (CBN).
In that position, Shonubi has been representing the CBN Governor on the Board of Federal Inland Revenue Services (FIRS) since 9 December, 2019.
