President Bola Tinubu has formally approved the appointment of Mr Lamido Abubakar Yuguda as a Deputy Governor of the Central Bank of Nigeria (CBN). The appointment, which remains subject to confirmation by the Senate, was announced in a statement issued on Wednesday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.
The nomination is made in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007, and follows a recent vacancy created by the transition of the erstwhile Deputy Governor, Mr Bala Bello, to a new role as Special Adviser to the President on Political Economy.
In his charge to the nominee, the President urged the swift application of renewed dedication and professionalism, emphasizing that such commitment is vital to securing Nigeria’s long-term economic stability and fostering sustainable growth.
Mr Yuguda returns to the apex bank with an extensive pedigree in financial regulation and macroeconomics. He most recently served as the Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024, where he oversaw significant reforms in the Nigerian capital market.
His professional journey is deeply rooted in the Central Bank of Nigeria, where he commenced his career in 1984 as a Senior Supervisor in the Foreign Operations Department. Over three decades, he rose through the ranks, eventually serving as the Director of the Reserve Management Department for six years before his retirement from the bank in 2016.
His experience also spans the international arena; between 1997 and 2001, he served as an economist in the Africa Department of the International Monetary Fund (IMF) in Washington, D.C., providing him with a global perspective on emerging market dynamics.
A highly decorated finance professional, Mr Yuguda is an alumnus of Ahmadu Bello University, Zaria, where he obtained a Bachelor of Science degree in Accountancy in 1983. He subsequently proceeded to the University of Birmingham in the United Kingdom, where he earned a Master’s degree in Money, Banking, and Finance in 1991.
In addition to his academic achievements, he is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a prestigious CFA charterholder.
The nomination of such a seasoned technocrat is widely seen by analysts as a strategic move by the Tinubu administration to bolster the leadership team at the CBN as the nation continues to navigate complex monetary and inflationary challenges.
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