Tinubu nominates Lamido Yugudaas CBN Deputy Governor

President Bola Ahmed Tinubu has nominated former Director-General of the Securities and Exchange Commission (SEC), Lamido Abubakar Yuguda, as Deputy Governor of the Central Bank of Nigeria (CBN), subject to confirmation by the Senate.

The nomination, announced in a statement issued on Wednesday by the Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007.

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

President Tinubu urged the nominee to bring renewed dedication, professionalism, and commitment to the responsibilities of the office if confirmed by the Senate.

“The President charges them to discharge their responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth in their respective roles,” the statement said.

Yuguda is a seasoned financial sector professional with decades of experience in banking regulation, international finance, and capital market administration.

He most recently served as Director-General of the Securities and Exchange Commission from 2020 to 2024, where he oversaw regulatory reforms aimed at strengthening Nigeria’s capital market and improving investor confidence.

An alumnus of Ahmadu Bello University, Zaria, Yuguda graduated in 1983 with a Bachelor of Science degree in Accountancy.

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 a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and also holds the Chartered Financial Analyst (CFA) designation.

Yuguda began his professional career in 1984 at the Central Bank of Nigeria as a Senior Supervisor in the Foreign Operations Department, marking the beginning of a long career in monetary and financial policy administration.

Between 1997 and 2001, he served as an economist in the Africa Department of the International Monetary Fund (IMF), where he worked on economic policy issues affecting several African countries.

Following his stint at the IMF, he returned to the CBN and rose through the ranks, eventually serving as Director of the Reserve Management Department.

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He held the position for six years before retiring from the apex bank in 2016 after over three decades of service in Nigeria’s financial system.

If confirmed by the Senate, Yuguda is expected to bring his extensive experience in central banking, international finance, and capital market regulation to the leadership of the CBN as it continues to pursue policies aimed at strengthening monetary stability and supporting economic growth.