President Bola Ahmed Tinubu has nominated former Director-General of the Securities and Exchange Commission (SEC), Lamido Abubakar Yuguda, as Deputy Governor of the Central Bank of Nigeria (CBN), subject to confirmation by the Senate.
The nomination was disclosed in a statement issued in Abuja by the President’s Special Adviser on Information and Strategy, Bayo Onanuga. According to the presidency, the appointment is in line with Section 8(1) of the Central Bank of Nigeria Act, 2007, which requires Senate confirmation for the appointment of CBN deputy governors.
Yuguda’s nomination follows the recent redeployment of the former deputy governor, Bala Bello, who was appointed Special Adviser to the President on Political Economy. The presidency noted that the move forms part of efforts to strengthen leadership within Nigeria’s monetary authority and reinforce economic management.
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Before this nomination, Yuguda served as Director-General of the SEC between 2020 and 2024, where he oversaw regulatory reforms aimed at improving oversight and investor confidence in Nigeria’s capital market.
Yuguda began his career at the Central Bank of Nigeria in 1984 as a Senior Supervisor in the Foreign Operations Department. He later worked as an economist in the African Department of the International Monetary Fund from 1997 to 2001 before returning to the CBN, where he rose to become Director of the Reserve Management Department prior to his retirement in 2016.
An alumnus of Ahmadu Bello University with a degree in Accountancy, he also holds a master’s degree in Money, Banking and Finance from the University of Birmingham in the United Kingdom. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA).
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The presidency stated that the nominee is expected to bring his extensive experience in monetary policy, financial markets, and regulatory oversight to support the Central Bank’s mandate of maintaining economic stability and promoting sustainable growth.
Source: Nairametrics
