Nigeria’s president Buhari appoints Shonubi as CBN deputy governor

President Muhammadu Buhari has appointed Folashodun Adebisi Shonubi, managing director of the Nigeria Inter-Bank Settlement System Plc (NIBSS), as deputy governor of the country’s apex bank, CBN.

Shonubi, who heads the financial payments, facilitation and settlement platform, was appointed Friday, according to a statement by the presidency, which also notes that the appointment is subject to a confirmation by the Senate.

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

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, Buhari formally accepted the disengagement of Adebayo Adelabu as the deputy governor in charge of Operations at the CBN, with effect from July 15, 2018.

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

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

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.