President Bola Ahmed Tinubu has suspended the Central Bank Governor, Mr Godwin Emefiele, from office with immediate effect.
This followed the ongoing investigation of his office and the planned reforms in the financial sector of the economy, a statement from the Office of the Secretary to the Federation, said on Friday.
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.
Shonubi now in charge:
Following this development, Mr. Folashodun Adebisi Shonubi is now acting CBN Governor, the Deputy Governor (Operations Directorate), who will act pending the conclusion of the investigation and the reforms.
Shonubi was the Managing Director of the Nigeria Inter-Bank Settlement System Plc (NIBSS), before his appointment by former President Muhammadu Buhari as CBN Deputy Governor (Operations Directorate), in 2018.
Shonubi holds double Masters Degrees in Business Administration and Mechanical Engineering, from the University of Lagos.
He was Executive Director, Information Technology, and Operations at Union Bank of Nigeria Plc, a member of the Board of Union Homes.
Shonubi was also Director of Information Technology and Corporate Services in Renaissance Securities Nigeria limited.
He also had a stint with Citibank Nigeria Limited as its Head, Treasury Operations (1990-1993).
Between 1999 and 2007, he worked in MBC International as Deputy General Manager and supervised their IT operational platforms.
He served in First City Monument Bank Limited (FCMB) as Vice President and in Ecobank Nigeria Limited as Executive Director.