President Bola Ahmed Tinubu has approved the nomination of Lamido Abubakar Yuguda 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, on March 11, 2026.
According to the statement, the appointment is in line with Section 8(1) of the Central Bank of Nigeria Act, 2007. Yuguda’s nomination follows the recent appointment of the former Deputy Governor, Bala Bello, as Special Adviser to the President on Political Economy.
President Tinubu urged the appointee to demonstrate professionalism and commitment in the discharge of his duties.
“The President charges them to discharge their responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth, in their respective roles,” the statement said.
Yuguda previously served as Director-General of the Securities and Exchange Commission (Nigeria) from 2020 to 2024, where he oversaw regulatory reforms and market development initiatives in the Nigerian capital market.
An alumnus of Ahmadu Bello University, Yuguda earned a Bachelor of Science degree in Accountancy in 1983. He later obtained a master’s degree in Money, Banking and Finance from the University of Birmingham in the United Kingdom in 1991.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and also holds the prestigious Chartered Financial Analyst designation.
Yuguda began his professional career at the Central Bank in 1984 as a Senior Supervisor in the Foreign Operations Department. He later served as an economist in the Africa Department of the International Monetary Fund between 1997 and 2001 before returning to the CBN.
Before retiring from the apex bank in 2016, he served for six years as Director of the Reserve Management Department, where he played a key role in managing Nigeria’s foreign reserves and financial stability strategies.
His nomination now awaits confirmation by the Nigerian Senate.
