President Bola Ahmed Tinubu has removed the Central Bank Governor, Mr Godwin Emefiele from office with immediate effect.
This is coming just as Emefiele has been asked to hand over to Adebisi Sonubi while investigations on the running of the apex bank under his watch continues.
A statement issued by the Director, Information for the Secretary to the Government of the Federation, Willie Bassey said the removal of Emefiele is sequel to the ongoing investigation.
“This is sequel to the ongoing investigation of his office and the planned reforms in the financial sector of the economy,” the statement said about Emefiele’s removal.
“Mr Emefiele has been directed to immediately hand over the affairs of his office to the Deputy Governor (Operations Directorate, Adebisi Sonubi), who will act as the Central Bank Governor pending the conclusion of investigation and the reforms,” the statement said.
In February 2014, President Goodluck Jonathan appointed Godwin Emefiele, who was then the managing director of Zenith Bank, as the CBN governor.
In May 2019, Nigeria’s Senate approved a second term of five-year for Emefiele.
Emefiele is the first Nigerian to be appointed to serve for a second term as CBN Governor since Nigeria’s return to democracy in 1999.
But his second term was surrounded with a lot of controversies, leading to his suspension. Emefiele’s second term is due to end next year.
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.
Director, 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.
He is a resourceful Information Technology-driven banker with over 22 years professional experience.