President Tinubu Announces Fresh Crucial CBN Appointment, Seeks Senate Approval

President Tinubu has announced a fresh crucial CBN Appointment.

 

NewsOnline Nigeria reports that President Bola Ahmed Tinubu has nominated Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, subject to confirmation by the Senate.

 

The nomination was announced on Wednesday in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.

 

According to the statement, the appointment aligns with Section 8(1) of the Central Bank of Nigeria Act, 2007, which authorises the president to appoint the CBN governor and deputy governors with the approval of the Senate.

 

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Yuguda’s nomination follows the recent appointment of Bala Bello as Special Adviser to the President on Political Economy.

 

President Tinubu urged the nominee to approach the role with professionalism and dedication in order to strengthen Nigeria’s economic stability and drive sustainable growth.

 

Before the nomination, Yuguda served as Director-General of the Securities and Exchange Commission from 2020 to 2024, where he oversaw regulatory reforms in Nigeria’s capital market.

 

An alumnus of Ahmadu Bello University, Yuguda earned a Bachelor of Science degree in Accountancy in 1983. He later obtained a master’s degree in Money, Banking and Finance from the University of Birmingham in 1991.

 

Yuguda is also a Fellow of the Institute of Chartered Accountants of Nigeria and a Chartered Financial Analyst.

 

He began his professional career at the Central Bank of Nigeria in 1984 as a Senior Supervisor in the Foreign Operations Department.

 

Between 1997 and 2001, he worked as an economist in the Africa Department of the International Monetary Fund before returning to the CBN.

 

After returning to the apex bank, Yuguda rose through the ranks and eventually served as Director of the Reserve Management Department. He retired from the Central Bank in 2016 after six years in that position.

 

If confirmed by the Senate, Yuguda will join the leadership team responsible for overseeing Nigeria’s monetary policy, financial stability, and banking sector regulation.