Tinubu Nominates Yuguda as CBN Deputy Governor

President Bola Tinubu on Wednesday nominated former Director-General of the Securities and Exchange Commission, Lamido Yuguda, as a Deputy Governor of the Central Bank of Nigeria.

The nomination was announced in Abuja through a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, and will require approval by the Senate before it becomes effective.

The statement explained that the nomination was made in line with the provisions of the Central Bank of Nigeria Act of 2007. According to the presidency, the appointment followed the recent movement of Bala Bello, who previously served as Deputy Governor of the Central Bank, to a new role as Special Adviser to the President on Political Economy.

With this development, Yuguda is expected to join the leadership team of the apex bank once the Senate completes its screening process and confirms the nomination.

The President also urged the nominee to carry out his duties with dedication and professionalism while supporting efforts aimed at maintaining stability in the country’s financial system and promoting economic growth.

Lamido Yuguda previously served as the Director-General of the Securities and Exchange Commission between 2020 and 2024. During his time at the commission, he was involved in the regulation and supervision of activities within Nigeria’s capital market.

Yuguda began his professional career at the Central Bank of Nigeria in 1984, where he worked as a Senior Supervisor in the Foreign Operations Department. His experience at the apex bank later expanded into other areas of financial management and economic policy.

Between 1997 and 2001, he worked with the International Monetary Fund as an economist in the Africa Department. After completing his assignment with the global financial institution, he returned to the Central Bank of Nigeria and continued his career there.

Before leaving the bank in 2016, he served as Director of the Reserve Management Department for six years. His role at the time involved managing Nigeria’s external reserves and supporting the bank’s financial operations.

Yuguda studied Accountancy at Ahmadu Bello University, where he graduated with a bachelor’s degree in 1983. He later obtained a master’s degree in Money, Banking and Finance from the University of Birmingham in the United Kingdom in 1991.

He is also a Fellow of the Institute of Chartered Accountants of Nigeria and holds the professional qualification of Chartered Financial Analyst. His experience across different financial institutions has given him a long career in banking, finance and economic management.

With his nomination now before the Senate, lawmakers are expected to review his credentials and experience before deciding whether to confirm him as Deputy Governor of the Central Bank of Nigeria.

If confirmed, he will take part in managing the operations of the apex bank and supporting the country’s monetary and financial policies.