President Bola Tinubu has nominated Lamido Abubakar Yuguda, the former Director-General of the Securities and Exchange Commission (SEC), for appointment as Deputy Governor of the Central Bank of Nigeria (CBN), subject to confirmation by the Senate.
The nomination was disclosed in a statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, who noted that the appointment was made in accordance with the provisions of the Central Bank of Nigeria Act, 2007, which empowers the president to appoint CBN deputy governors pending Senate approval.
According to the presidency, Yuguda’s nomination comes following a vacancy created after the recent appointment of a former CBN deputy governor to a new advisory role in the administration. The development is part of efforts to strengthen the leadership team at the apex bank as the government continues to pursue economic reforms and monetary stability.
Yuguda is widely regarded as an experienced financial sector professional with decades of service in Nigeria’s banking and capital market system. Before leading the SEC, he had a long career at the Central Bank of Nigeria, where he served in several strategic roles and eventually rose to become Director of the Reserve Management Department before retiring from the bank.
During his tenure as SEC Director-General, Yuguda oversaw regulatory reforms aimed at strengthening investor confidence, deepening Nigeria’s capital market, and improving transparency in financial transactions. His experience across both the capital market and the central banking system is expected to contribute to policy coordination within Nigeria’s financial sector if confirmed.
The nomination has now been forwarded to the Senate, which will screen the nominee and decide whether to approve the appointment in line with constitutional requirements. If confirmed, Yuguda will join the leadership team of the CBN responsible for shaping monetary policy and managing the country’s financial stability.
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