President Bola Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), with the nomination now awaiting confirmation by the Senate.
The presidency announced the decision on Wednesday, stating that the appointment was made in line with Section 8(1) of the Central Bank of Nigeria Act, which empowers the President to nominate deputy governors of the apex bank subject to legislative approval.
The nomination follows the recent appointment of Bala Bello, the former Deputy Governor of the CBN, as Special Adviser to the President on Political Economy.
In a statement issued by presidential spokesman Bayo Onanuga, the President urged the new appointee and the outgoing deputy governor to demonstrate strong commitment in their new responsibilities.
“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’s Work Experience
Yuguda brings extensive experience in financial regulation and monetary policy to the role.
He most recently served as Director-General of the Securities and Exchange Commission (Nigeria) between 2020 and 2024, where he oversaw regulatory reforms aimed at strengthening Nigeria’s capital market and improving investor confidence.
He is an alumnus of Ahmadu Bello University, graduating in 1983 with a Bachelor of Science degree in Accountancy. He later earned a master’s degree in Money, Banking and Finance from the University of Birmingham in the United Kingdom in 1991.
A Fellow of the Institute of Chartered Accountants of Nigeria, Yuguda is also a Chartered Financial Analyst (CFA), reflecting his strong professional background in finance and accounting.
He began his professional career at the CBN in 1984 as a Senior Supervisor in the Foreign Operations Department.
Between 1997 and 2001, he served as an economist in the Africa Department of the International Monetary Fund before returning to the CBN.
Yuguda later rose to become Director of the Reserve Management Department, a position he held for six years before retiring from the apex bank in 2016.
His return to the institution as Deputy Governor now places him once again at the centre of Nigeria’s monetary policy leadership.
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