President Muhammadu Buhari has approved the nomination of Mr. Folashodun Adebisi Shonubi, a Mechanical Engineer, as Deputy Governor at the Central Bank of Nigeria.

His appointment is however subject to Senate confirmation, the president’s spokesman, Garba Shehu said in a Friday statement.

Mr. Folashodun Shonubi, who has a B.Sc and Masters Degree in Mechanical Engineering and an MBA in Finance from UNILAG, is currently the Managing Director of the Nigeria Inter-Bank Settlement System Plc (NIBSS) – the financial payments, facilitation and settlement platform – which has been instrumental to the growth in electronic payments in the Nigerian financial industry.

THEWILL gathered from CBN sources that Shonubi would replace Mr. Adebayo Adelabu, the retiring deputy governor of the apex bank.

“Before assuming the headship of NIBBS in 2012, Mr. Shonubi had garnered decades of executive-level experience in financial service operations, notably as Executive Director at Union Bank of Nigeria Plc, Renaissance Securities Nigeria Ltd and Ecobank Nigeria Plc,” the statement added.