CBN changes roles of four deputy governors

The Central Bank of Nigeria (CBN) has made a change in the roles of four deputy governors. This change starts from 1 June.

CBN announced the new roles on its website. The adjustments give the four deputy governors new responsibilities. This step is part of the bank's work to manage monetary policy, regulate the financial sector, and handle other important parts of Nigeria's economy.

The reshuffle aims to build trust in the financial sector. It also wants to make regulations more effective and support economic stability.

New Roles

In the new setup, Muhammad Abdullahi has moved from the Economic Policy Directorate to lead the Corporate Services unit.
Mr Abdullahi will now handle administrative and support tasks to keep the bank running smoothly.

Philip Ikeazor will now manage the Economic Policy Directorate. He will oversee the bank’s economic research and policy assessments. This work helps guide decisions on interest rates, inflation, and other monetary policies.

Emem Usoro is also changing roles. She is leaving Corporate Services to supervise Operations. In her new position, Ms Usoro will manage daily tasks linked to the bank’s operations. This includes currency management and payment systems.

Lamido Yuguda is moving from Operations to the Financial System Stability Directorate. His new focus is on monitoring risks in the banking sector. He will ensure the financial system stays healthy.

CBN says the redeployment aims to use “the experience of senior officials across different areas of responsibility and to support evolving institutional priorities.”