Tinubu Nominates Lamido Yuguda As CBN Deputy Governor
President Bola Ahmed Tinubu has nominated Lamido Abubakar Yuguda, former Director-General of the
Securities and Exchange Commission (SEC), as Deputy Governor of the Central Bank of Nigeria (CBN).
The nomination is subject to confirmation by the Nigerian Senate.
The presidency announced the development in a statement issued in Abuja on March 11, 2026, by the
President’s Special Adviser on Information and Strategy, Bayo Onanuga.
According to the statement, the nomination was made in accordance with Section 8(1) of the Central
Bank of Nigeria Act, 2007, which empowers the president to appoint deputy governors of the apex bank
subject to legislative approval.
Yuguda’s nomination follows the recent appointment of former CBN Deputy Governor Bala Bello as
Special Adviser to the President on Political Economy, creating a vacancy in the bank’s leadership.
Before the nomination, Yuguda served as Director-General of the SEC from 2020 to 2024, where he
oversaw regulatory reforms aimed at strengthening Nigeria’s capital market and improving investor
confidence.
A career economist and financial regulator, Yuguda previously worked at the Central Bank of Nigeria
after joining the institution in 1984 as a senior supervisor in the Foreign Operations Department. He
later served as Director of the Reserve Management Department before retiring from the bank in 2016.
He also worked as an economist in the Africa Department of the International Monetary Fund between
1997 and 2001.
Yuguda holds a Bachelor’s degree in Accountancy from Ahmadu Bello University and a Master’s degree
in Money, Banking and Finance from the University of Birmingham in the United Kingdom.
The presidency said the nominee is expected to bring his experience in monetary policy, financial
regulation and capital markets to support Nigeria’s economic stability and growth if confirmed by the
Senate.
Yuguda’s confirmation by lawmakers would make him part of the top management team responsible for
guiding monetary policy and financial system oversight at the Central Bank of Nigeria.
By Oyinkansola Shittu.
