President Bola Tinubu has nominated economist Lamido Yuguda as a Deputy Governor of the Central Bank of Nigeria, pending confirmation by the Senate.
The nomination was announced in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, on Wednesday.
According to the statement, the appointment was made in line with Section 8(1) of the Central Bank of Nigeria Act, 2007, which empowers the president to nominate deputy governors for the apex bank subject to legislative approval.
Tinubu charged the nominee to demonstrate professionalism and dedication if confirmed for the position.
The presidency said Yuguda is expected to support efforts aimed at strengthening Nigeria’s economic stability and sustaining growth within the country’s financial system.
The nomination followed a recent restructuring within the economic advisory structure of the presidency.
Former CBN Deputy Governor Bala Bello was recently appointed Special Adviser to the President on Political Economy.
Lamido Yuguda brings decades of experience in financial regulation, monetary policy, and international finance.
He previously served as Director-General of the Securities and Exchange Commission Nigeria between 2020 and 2024, overseeing regulatory reforms in the country’s capital market.
Yuguda is also a fellow of the Institute of Chartered Accountants of Nigeria and holds the Chartered Financial Analyst qualification from the CFA Institute.
Career at the Central Bank and IMF
His professional career began at the Central Bank of Nigeria in 1984, where he worked as a senior supervisor in the foreign operations department.
He later served as an economist in the Africa Department of the International Monetary Fund from 1997 to 2001 before returning to the CBN.
After several years in senior roles, Yuguda retired from the apex bank in 2016 following a six-year tenure as Director of the Reserve Management Department.
In February 2024, Yuguda was also confirmed as one of the members of the Central Bank’s Monetary Policy Committee (MPC), the body responsible for setting Nigeria’s interest rates and monetary policy direction.
If confirmed by the Senate, his appointment is expected to strengthen the leadership team at the Central Bank as it continues reforms aimed at stabilising Nigeria’s financial system and managing inflation.
