Folashodun ShonubiFolashodun Adebisi Shonubi is a Nigerian policy maker and banker. He is the Managing Director of the Nigeria Inter-Bank Settlement System (NIBBS) and the Deputy Governor of the Central Bank of Nigeria. President Muhammadu Buhari approved of his appointment in June 2018.

Birth and Education

Folashodun was born in Lagos. He is a graduate of Engineering from the University of Lagos. He also holds a Masters Degree in Mechanical Engineering, as well as a professional Masters in Business Administration from the same school.


Folashodun Shonubi may be a very serious professional, but he plays hard as well. His main hobby is golf. He is a “Pro Am”, and has participated in a number of tournaments organized by the Professional Golfers’ Association of Nigeria (PGAN). He is an active member of the IBB Golf and Country Club, Abuja.

Professional Career

Folashodun ShonubiTo sum up, Mr. Shonubi has had a huge success in the financial sector. Before his recent appointment at the Central Bank of Nigeria, he has served in various capacities in both the private and public sector. He has also served on a number of sub-committees of the Bankers’ Committee, including the Ethics and Professionalism sub-committee. Meanwhile, let’s review his journey so far.

Folashodun Shonubi started his professional career in the 70s. By 1990, he was Head, Treasury Operations at Citibank Nigeria Limited. He later on momved to MBC International Limited where he served as Deputy General Manager. Here he supervised first City Monument Bank Limited’s ICT operational platforms. He equally served here as the Vice President.

Moving to Ecobank, Shonubi served as the Director, Information Technology and Corporate Services at Renaissance Securities Nigeria limited. He was appointed Executive Director, Information Technology and Operations at Union Bank of Nigeria Plc on September 23, 2009. He was a member of the Board of Union Homes.

The Nigeria Inter-Bank Settlement System (NIBBS) came calling in May 2012. His experience in and advocacy for electronic payment was a major boost to his résumé. Note that Folashodun Shonubi has attended several Payment System trainings, workshops and Programmes both locally and internationally and has led several important engagements covering a range of disciplines across the financial sector.

Throughout his time at the NIBBS, Folashodun is known for being a major proponent of the Bank Verification Number, BVN. The success of E-payment accross the country can be attributed to a large extent, to the activities of Folashodun Shonubi. He voiced his opposition to bitcoin and other virtual currencies often.

Professional Membership

Finally, Folashodun Shonubi is a honorary senior member of the Chartered Institute of Bankers of Nigeria, with membership number 74913.

Please we are working to update this post. We will add more facts as soon as we can verify them.


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