Tinubu nominates Lamido Abubakar Yuguda as CBN Deputy Governor

President Bola Ahmed Tinubu has nominated Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), pending confirmation by the Senate.

The nomination was confirmed on Wednesday in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga. The appointment is in line with Section 8(1) of the Central Bank of Nigeria Act, 2007, which grants the President the power to appoint the CBN governor and deputy governors, subject to Senate approval.

Yuguda’s nomination comes shortly after former Deputy Governor Bala Bello was appointed Special Adviser to the President on Political Economy.

In the statement, President Tinubu urged Yuguda to carry out his duties with dedication, professionalism, and a commitment to strengthening Nigeria’s economic stability and growth.

Before this appointment, Yuguda served as Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024. He holds a Bachelor of Science degree in Accountancy from Ahmadu Bello University (1983) and a master’s degree in Money, Banking, and Finance from the University of Birmingham, United Kingdom (1991).

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

His career began at the Central Bank of Nigeria in 1984 as a Senior Supervisor in the Foreign Operations Department. Between 1997 and 2001, he worked as an economist in the Africa Department of the International Monetary Fund (IMF) before returning to the CBN. He later became Director of the Reserve Management Department and retired from the apex bank in 2016 after six years in that role.