Lagos, Nigeria – The President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, has formally nominated Lamido Abubakar Yuguda to serve as a Deputy Governor of the Central Bank of Nigeria (CBN). The Central Bank of Nigeria is the primary financial regulatory institution in the West African country. Okay News reports that this high-level appointment is currently pending confirmation by the Senate of Nigeria, which serves as the upper chamber of the national legislature.
The nomination follows a leadership shift within the presidential administration. Yuguda will replace the former Deputy Governor, Bala Bello. The Nigerian President recently appointed Bello to a new role as the Special Adviser to the President on Political Economy. President Tinubu directed both officials to approach their new responsibilities with immense dedication and a strong commitment to the economic stability and growth of Nigeria.
Lamido Abubakar Yuguda brings decades of financial and regulatory experience to his new role. He most recently served as the Director General of the Securities and Exchange Commission (SEC), the national agency responsible for regulating the Nigerian capital market, from the year 2020 until 2024. Prior to that position, his career included extensive domestic and international economic roles.
Yuguda started his professional journey in 1984 as a Senior Supervisor in the Foreign Operations Department of the Central Bank of Nigeria. Between 1997 and 2001, he worked as an economist for the Africa Department of the International Monetary Fund (IMF), a major global financial organization. Following his time at the International Monetary Fund, he returned to the Central Bank of Nigeria, eventually serving as the Director of the Reserve Management Department for six years before his initial retirement in 2016.
The nominee holds a Bachelor of Science degree in Accountancy from Ahmadu Bello University in Zaria, Nigeria, which he earned in 1983. He also obtained a master degree in Money, Banking and Finance from the University of Birmingham in the United Kingdom in 1991. Furthermore, he is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds the Chartered Financial Analyst designation. If the Nigerian Senate approves the nomination, Yuguda will officially assume his duties to help steer the monetary policy of the country.
