President Bola Ahmed Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), subject to confirmation by the Senate.
The development was disclosed in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, who said the nomination was made in accordance with Section 8(1) of the Central Bank of Nigeria Act 2007.
Yuguda’s nomination follows the recent appointment of the former Deputy Governor, Bala Bello, as Special Adviser to the President on Political Economy.
According to the presidency, the appointment is part of the Tinubu administration’s efforts to strengthen leadership at the apex bank as the government continues to pursue economic reforms aimed at stabilising the financial system and boosting investor confidence.
“The President charges them to discharge their responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth, in their respective roles,” the statement said.
Yuguda is widely regarded as an experienced financial regulator and policy expert. His last public office was as Director-General of the Securities and Exchange Commission Nigeria, where he served from 2020 to 2024 and oversaw key reforms in Nigeria’s capital market, including initiatives designed to improve transparency and attract investment.
An alumnus of Ahmadu Bello University, Zaria, Yuguda graduated in 1983 with a Bachelor of Science degree in Accountancy. He later obtained a master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom, in 1991.
He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds the Chartered Financial Analyst (CFA) designation, widely recognised in global finance.
Yuguda began his professional career at the Central Bank in 1984 as a Senior Supervisor in the Foreign Operations Department. Over the years, he rose through the ranks and held several strategic positions within the apex bank.
Between 1997 and 2001, he served as an economist in the International Monetary Fund’s Africa Department, where he worked on macroeconomic policy issues affecting several African economies.
He later returned to the Central Bank and eventually served as Director of the Reserve Management Department for six years before retiring from the bank in 2016.
If confirmed by the Senate, Yuguda will join the leadership team of the apex bank headed by Olayemi Cardoso, the Governor of the Central Bank.
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