President Bola Tinubu has nominated Lamido Abubakar Yuguda, a seasoned finance expert and former Director-General of the Securities and Exchange Commission (SEC), as Deputy Governor of the Central Bank of Nigeria (CBN).
This announcement, made on March 11, 2026, is pending Senate confirmation and complies with Section 8(1) of the Central Bank of Nigeria Act, 2007.
Yuguda’s appointment fills the position left vacant after the recent redeployment of Bala Bello, who was appointed Special Adviser to the President on Political Economy.
A statement from the President’s Special Adviser on Information and Strategy, Bayo Onanuga, stated that this move supports efforts to strengthen monetary policy, promote economic stability, and foster sustainable growth under the Renewed Hope agenda.
With over forty years of experience, Yuguda has a background in central banking, reserve management, economics, and capital market regulation.
He started his career at the CBN in 1984 as a Senior Supervisor in the Foreign Operations Department.
After working at the International Monetary Fund (IMF) in Washington, D.C., from 1997 to 2001, where he focused on economic policy assessments and balance-of-payments programs, he returned to the CBN.
Between 2010 and 2016, he served as Director of the Reserve Management Department, promoting a risk-aware investment culture and disciplined reserve management, which led to reserve growth.
Most recently, he was Director-General of the SEC from 2020 to 2024, leading regulatory reforms to improve transparency, investor protection, and efficiency in Nigeria’s capital markets.
Yuguda is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds a CFA charter. He earned a BSc in Accounting from Ahmadu Bello University, Zaria, along with advanced qualifications reflecting his expertise in finance and investments.
If confirmed by the Senate, Yuguda will join Governor Olayemi Cardoso and the CBN leadership at a pivotal moment for Nigeria’s economy, bringing his vast institutional knowledge and proven experience to shape monetary policy, ensure financial stability, and support broader economic reforms.
Administrator and Writer
