Manny Ita –
President Bola Ahmed Tinubu has nominated Lamido Abubakar Yuguda, former Director-General of the Securities and Exchange Commission, as Deputy Governor of the Central Bank of Nigeria.
The nomination, which is subject to confirmation by the Nigerian Senate, was announced in a statement issued on March 11 by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
According to the presidential spokesperson, the nomination complies with Section 8(1) of the Central Bank of Nigeria Act, 2007, which stipulates that the Governor and Deputy Governors of the apex bank must possess relevant financial experience.
Onanuga explained that Yuguda’s nomination follows the recent appointment of former Deputy Governor 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 statement said, adding that the nominee is expected to demonstrate commitment to Nigeria’s economic stability and growth if confirmed.
According to the Presidency, Yuguda most recently served as Director-General of the Securities and Exchange Commission between 2020 and 2024, overseeing regulatory activities within Nigeria’s capital market.
He graduated from Ahmadu Bello University in 1983 with a Bachelor of Science degree in Accountancy. In 1991, he obtained a master’s degree in Money, Banking and Finance from the University of Birmingham.
Yuguda is a Fellow of the Institute of Chartered Accountants of Nigeria and also holds the Chartered Financial Analyst designation. He began his career in 1984 at the Central Bank of Nigeria as a Senior Supervisor in the Foreign Operations Department.
He later worked as an economist in the Africa Department of the International Monetary Fund from 1997 to 2001 before returning to the Central Bank.
Yuguda retired from the CBN in 2016 after serving as Director of the Reserve Management Department for six years.
In 2020, the Nigerian Senate confirmed his appointment as Director-General of the Securities and Exchange Commission following a request by then President Muhammadu Buhari. The request was presented during plenary by the Senate President in a letter seeking legislative approval in accordance with the provisions of the Investment and Securities Act, 2007.
