Bola Ahmed Tinubu has nominated seasoned financial expert Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), marking a return to the country’s apex banking institution for the veteran economist and former capital market regulator.
The nomination, which is subject to confirmation by the Nigerian Senate, follows the appointment of former Deputy Governor Bala Bello as Special Adviser to the President on Political Economy.
Yuguda’s appointment places him at the centre of Nigeria’s monetary policy leadership at a time when the country is navigating complex economic challenges, including inflation, currency stability, and financial sector reforms.
A Return to the Central Bank
Before his nomination, Yuguda served as Director-General of the Securities and Exchange Commission Nigeria from 2020 to 2024, where he oversaw regulatory reforms in Nigeria’s capital market and efforts to strengthen investor confidence.
However, his relationship with the Central Bank of Nigeria dates back decades. Yuguda began his career at the apex bank in 1984 as a Senior Supervisor in the Foreign Operations Department. Over the years, he rose through the ranks, eventually serving as Director of the Reserve Management Department, a role he held for six years before retiring from the institution in 2016.
His extensive experience in reserve management and monetary policy is expected to strengthen the leadership team at the CBN.
International and Academic Background
Yuguda also brings international policy experience. Between 1997 and 2001, he worked as an economist in the Africa Department of the International Monetary Fund, contributing to economic analysis and policy development for countries across the continent.
Academically, he holds a Bachelor’s degree in Accountancy from Ahmadu Bello University and a Master’s degree in Money, Banking and Finance from the University of Birmingham in the United Kingdom.
He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA) charterholder, credentials that underscore his expertise in financial management and capital markets.
Role in Nigeria’s Financial System
With decades of experience spanning central banking, international finance and capital market regulation, Yuguda is widely regarded as one of Nigeria’s most experienced financial technocrats.
If confirmed by the Senate, his appointment as CBN Deputy Governor will place him in a strategic position to contribute to the formulation and implementation of Nigeria’s monetary policies and financial sector reforms.
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