President Bola Ahmed Tinubu has approved the nomination of Lamido Abubakar Yuguda as a Deputy Governor of the Central Bank of Nigeria (CBN).
The nomination, which is subject to confirmation by the Nigerian Senate, was announced in a statement. Which released by Bayo Onanuga, the president’s Special Adviser on Information and Strategy.
Nomination in Line With CBN Act
According to the presidency, the appointment follows the provisions of Section 8(1) of the Central Bank of Nigeria Act, 2007. Which empowers the president to nominate deputy governor for the apex bank subject to Senate approval.
If confirmed, Yuguda will join the leadership team responsible for shaping Nigeria’s monetary policy, banking regulations, and financial stability framework.
Experienced Financial Regulator
Lamido Yuguda previously served as the Director-General of the Securities and Exchange Commission Nigeria. Where he played a key role in regulating Nigeria’s capital markets and strengthening investor confidence.
His background in financial regulation and capital market development is seen as valuable experience for the Central Bank. Particularly at a time when Nigeria is implementing major financial and economic reforms.
Strengthening the Central Bank Leadership
The nomination comes as the Central Bank continues to focus on stabilizing the financial system. Improving foreign exchange management, and addressing inflationary pressures in Nigeria.
Analysts say bringing in experienced regulators like Yuguda could help strengthen coordination between the country’s banking sector and capital markets.
Awaiting Senate Confirmation
The final step in the process now rests with the Senate, which will review the nomination and decide whether to confirm Yuguda for the role.
If approved, he will officially take up duties as one of the deputy governors of the Central Bank, contributing to decisions that shape Nigeria’s financial and economic policies.
