Pres. Bola Ahmed Tinubu has approved the appointment of Lamido Abubakar Yuguda as the new Deputy Governor of the Central Bank of Nigeria (CBN).
In a statement on Wednesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the nomination is made in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007.
Yuguda, who famously led the Securities and Exchange Commission (SEC) as Director-General from 2020 to 2024, is set to succeed Mr. Bala Bello, who has been transitioned into a new role as Special Adviser to the President on Political Economy.
The President urged the ex-SEC DG to approach his responsibilities with a renewed sense of professionalism and dedication, emphasizing the critical nature of the role in maintaining national economic stability.
This appointment marks a significant homecoming for Yuguda, whose career began at the CBN in 1984 as a Senior Supervisor in the Foreign Operations Department. His deep institutional knowledge is further bolstered by his six-year tenure as the Director of the Reserve Management Department before his initial retirement from the bank in 2016.
Beyond his domestic experience, Yuguda brings a wealth of international expertise to the deputy governorship, having served as an economist in the Africa Department of the International Monetary Fund (IMF) between 1997 and 2001. A highly decorated professional, he holds a B.Sc. in Accountancy from Ahmadu Bello University and a master’s degree in Money, Banking, and Finance from the University of Birmingham. As a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder, his technical proficiency is expected to be a vital asset to the bank’s mission of steering Nigeria through its current fiscal and monetary reforms.