Lamido Yuguda Nominated as Nigeria Central Bank Deputy Governor

President Bola Tinubu has officially nominated Lamido Yuguda to serve as a Deputy Governor of the Central Bank of Nigeria. The announcement was confirmed on Wednesday through a statement issued by presidential spokesperson Bayo Onanuga. This high level appointment is made in accordance with Section 8(1) of the Central Bank of Nigeria Act of 2007 and now awaits formal confirmation by the Senate.

Mr. Yuguda is set to fill the vacancy created by the recent transition of former Deputy Governor Bala Bello into a new role as Special Adviser to the President on Political Economy. President Tinubu has called upon the nominee to approach this critical position with professional dedication and a firm commitment to the economic stability and growth of the nation.

An Extensive Professional Background

The nominee brings a wealth of regulatory and financial expertise to the apex bank. Most recently, Mr. Yuguda served as the Director General of the Securities and Exchange Commission from 2020 to 2024. His career in the financial sector spans several decades, beginning at the Central Bank in 1984 where he initially served as a Senior Supervisor within the Foreign Operations Department.

His professional journey also includes significant international experience. Between 1997 and 2001, he worked as an economist for the Africa Department of the International Monetary Fund. Upon returning to the Central Bank of Nigeria, he continued to rise through the ranks, eventually retiring in 2016 after a six year tenure as the Director of the Reserve Management Department.

Academic and Professional Credentials

Mr. Yuguda possesses a robust educational foundation that supports his extensive career. He graduated from Ahmadu Bello University in Zaria with a Bachelor of Science in Accountancy in 1983. He later advanced his studies in the United Kingdom, earning a Master’s degree in Money, Banking, and Finance from the University of Birmingham in 1991.

In addition to his academic achievements, he is highly decorated within his field. He is a Fellow of the Institute of Chartered Accountants of Nigeria and holds the prestigious Chartered Financial Analyst designation. This combination of local and international experience positions him as a central figure in the ongoing management of Nigeria’s financial landscape.