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Friday, December 1, 2023

Emefiele finds himself in DSS custody after being suspended as CBN governor

The suspended Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has been arrested by the Department of State Services (DSS).

According to a source, he was arrested shortly after his suspension by President Bola Ahmed Tinubu on Friday night.

The source stated that the secret police had wanted to take in Emefiele before now but for the quiet intervention of former President Muhammadu Buhari.

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According to the source, the DSS had even gone to court to secure an order to effect Emefiele’s arrest for alleged terrorism financing.

When contacted, the Spokesperson of the Service Dr Peter Afunnaya declined comment.


Meanwhile, the president had in a statement issued by the Director of Information, Office of the Secretary to the Government of the Federation, Willie Bassey, ordered Emefiele to transfer his responsibilities to the CBN’s Deputy Governor in charge of operation pending the conclusion of the investigation into his activities in office.

The Deputy Governor (Operations Directorate) is Folashodun Adebisi Shonubi.

He 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 attended the university from 1978 to 1983, receiving a BSc in mechanical engineering before studying for an MSc in the same field at the same university.

After working as a consultant engineer at Mek-ind Associates from 1984 to 1989, he changed his line of education and profession by studying for an MBA with focus on finance.

With an MBA in his hands, he moved into the IT industry which would later shape his career.

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He was marketing executive at the Inlaks Computers Ltd from 1989 to 1990 and took a giant leap when he was appointed head of treasury operations at Citibank Nigeria Ltd in 1990.

In 1993, he moved to Agusto & Co. Ltd as a supervising consultant, working there for three years before joining MBC International Ltd as deputy general manager, banking operations and IT.

In 1999, he was on the move yet again, taking up the position of vice-president, operations and information technology at the First City Monument Bank (FCMB) Ltd.

He left FCMB in 2003 for Ecobank Nigeria Plc, where he became executive director, operations and information technology.

Shonubi was also director, information technology and corporate services at Renaissance Securities Nigeria Ltd as well as executive director, operations, technology and services at Union Bank of Nigeria Ltd from 2009 to 2012.

Before he was appointed into CBN in October 2018 by President Muhammadu Buhari, he was MD/CEO of the Nigeria Inter-Bank Settlement System (NIBSS).

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