Tinubu Nominates Yuguda as CBN Deputy Governor

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

The appointment, announced on Wednesday, is in line with Section 8(1) of the CBN Act, 2007.

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

In a statement issued by the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, the President charged the appointee to bring renewed dedication, professionalism, and a strong commitment to economic stability and growth in the discharge of his responsibilities.

Yuguda most recently 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, he 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.

A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA), Yuguda began his career at the CBN in 1984 as a Senior Supervisor in the Foreign Operations Department.

He also served as an economist in the Africa Department of the International Monetary Fund between 1997 and 2001 before returning to the apex bank. He retired from the CBN in 2016 after serving as Director of the Reserve Management Department for six years.

The nomination signals continuity in economic management as the administration seeks to consolidate ongoing reforms in monetary and financial sector governance.