Tinubu Appoints Ex-SEC DG Yuguda As CBN Deputy Governor

President Bola Tinubu has appointed former Director-General of the Securities and Exchange Commission (SEC), Lamido YUGUDA, as Deputy Governor of the Central Bank of Nigeria (CBN).

Presidential spokesperson, Bayo Onanuga, said Yuguda’s appointment is in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007.

The nomination follows the recent appointment of the erstwhile Deputy Governor, Mr Bala Bello, as Special Adviser to the President on Political Economy.

Tinubu charged the appointees to discharge their responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth, in their respective roles.

Yuguda is an economist, banker, and financial expert with over 30 years in banking, accounting, finance, economics, and investment management.

The appointee is an alumnus of Ahmadu Bello University, where he graduated 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.

He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder.

Yuguda began at the CBN in 1984 as Senior Supervisor in the Foreign Operations Department, managing external debt records. He later handled bank licensing and prudential regulations in Banking Supervision, then led the Debt Conversion Programme in 1988. By 1992, he managed external debt service and CBN’s external reserves investments.

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.

From 1997 to 2001, he worked at the IMF in Washington DC as an economist, assessing economic policies and balance-of-payments programs for African countries. Returning to CBN, he restructured the FOREX reserve portfolio, introducing new assets and systems, and rose to Director of Reserve Management in 2010, retiring in 2016 after 32 years.​

Before his appointment as SEC Director General in 2020 by President Muhammadu Buhari, Yuguda served as a non-executive director on boards like Africa Finance Corporation, PENCOM, and AMCON.