President Bola Ahmed Tinubu has approved the appointment of former Director-General of the Securities and Exchange Commission (SEC), Lamido Abubakar Yuguda, as Deputy Governor of the Central Bank of Nigeria (CBN).
The appointment is subject to confirmation by the Senate, according to a statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, on March 11, 2026.
The presidential spokesperson highlighted that the appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007, which specifies that the CBN Governor and Deputy Governors must be individuals with financial experience.
According to Onanuga, Yuguda’s nomination follows the recent appointment of the erstwhile Deputy Governor, Mr. Bala Bello, as Special Adviser to the President on Political Economy.
The President charged the duo to discharge their responsibilities with renewed dedication and professionalism.
The Presidency also urged Yuguda to demonstrate commitment to Nigeria’s economic stability and growth in his new role.
According to the Presidency, Lamido Yuguda’s last public office was as Director-General of the Securities and Exchange Commission, a position he held from 2020 to 2024.
He graduated from Ahmadu Bello University in 1983 with a B.Sc. in Accountancy.
In 1991, he obtained a master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom.
A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder, Yuguda commenced his career in 1984 at the Central Bank of Nigeria as a Senior Supervisor in the Foreign Operations Department.
He also worked as an economist in the Africa Department of the International Monetary Fund from 1997 to 2001, when he returned to the CBN.
He retired from the CBN in 2016 after serving as Director of the Reserve Management Department for six years.
