Breaking: Tinubu nominates ex-SEC Boss Yuguda as CBN Deputy Governor

By Kazeem Ugbodaga

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 nomination, announced on Wednesday, is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007, which empowers the President to appoint deputy governors of the apex bank subject to legislative approval.

Yuguda’s nomination follows the recent appointment of the former CBN Deputy Governor, 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, President Tinubu urged the nominee to discharge his duties with dedication, professionalism and commitment to Nigeria’s economic stability and growth.

Before his nomination, Yuguda served as the Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024, where he oversaw regulatory reforms aimed at strengthening Nigeria’s capital market.

An alumnus of Ahmadu Bello University, Zaria, Yuguda graduated in 1983 with a Bachelor’s degree in Accountancy. He later obtained a Master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom, in 1991.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and also holds the prestigious Chartered Financial Analyst (CFA) charter.

Yuguda began his professional career in 1984 at the Central Bank of Nigeria, where he worked as a Senior Supervisor in the Foreign Operations Department.

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

He later rose through the ranks at the apex bank and served as Director of the Reserve Management Department for six years before retiring from the CBN in 2016.

If confirmed by the Senate, Yuguda is expected to bring decades of experience in central banking, capital market regulation and international finance to the leadership team of the Central Bank as the government continues efforts to strengthen economic management and financial stability in Nigeria.