While at the CBN, he led the external Reserve Management operations of the Bank for more than a decade. Also, he has been at the forefront of the formulation and implementation of monetary and financial policies, risk management strategies, and corporate governance for more than two decades. He was a former Chairman of the Nigerian Security Printing and Minting Company Plc. and a pioneer director of the National Insurance Supervisory Board now NAICOM (Insurance sector regulator).
He was the Chairman of the Clearing and Exchange subcommittee of the West African Clearing House (WACH) from May 1992 to May 1993, (the Committee handling all trade transactions in the West African Sub region). During his chairmanship, he was a key member of the Committee that worked assiduously to transform the body in May 1993, into the present West African Monetary Agency (WAMA) responsible for regional monetary integration in West Africa.
In 1999, he was appointed by the IMF to represent Africa with other eminent central bankers around the world (each member representing a continent) on the Fund’s Panel of Experts on Safeguards Assessment. The panel was to advise the IMF on fiduciary assessment for member countries. In addition, he served on the board of a number of other public and private sector companies; and important national and international committees representing the Federal Government of Nigeria, Central Bank of Nigeria, and New Nigeria Development Company, a development finance institution, where he started his career.
Currently, he is the Chairman of Legacy Pension Managers Ltd (a pension fund management company) and a member of the Board of First Bank of Nigeria and Chairman of its Board Credit Committee.
Mr. Rasheed attended Ahmadu Bello University, Zaria and Harvard University, USA where he obtained a BSc. Economics and MPA Public Policy respectively, and is an Edward Mason Fellow of Harvard University.
He was conferred with the national honour of Officer of the Federal Republic (OFR) by the Federal Government of Nigeria in 2004.