With Bubinga or any other oily, tropical hardwood, it depends on what you're finishing with.
If you're spraying epoxy like Thunderbird for example, you don't need to do anything. Same with catalyzing urethanes.
If you're using a varnish or conventional polyurethane, you'll want to seal the wood first. A lot of guys like shellac for this. I prefer to use superglue as a grain filler/sealer.