Tinubu nominates Yuguda as CBN deputy governor amid focus on economic stability

President Bola Ahmed Tinubu has nominated Yahaya Yuguda as a Deputy Governor of the Central Bank of Nigeria (CBN), the presidency announced on Wednesday.

The nomination is in line with Section 8(1) of the Central Bank of Nigeria Act, 2007, which empowers the President to appoint deputy governors subject to Senate approval.

Yuguda’s nomination follows the recent appointment of former CBN Deputy Governor, Bala Bello, as Special Adviser to the President on Political Economy.

In a statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, President Tinubu urged Yuguda to execute his duties with dedication, professionalism, and commitment to Nigeria’s economic stability and growth.

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Before his nomination, Yuguda served as Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024, where he oversaw regulatory reforms aimed at strengthening Nigeria’s capital market.

An alumnus of Ahmadu Bello University, Zaria, Yuguda earned a Bachelor’s degree in Accountancy in 1983 and later obtained a Master’s degree in Money, Banking and Finance from the University of Birmingham, 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 (CFA) charter.

Yuguda began his professional career at the CBN in 1984 as a Senior Supervisor in the Foreign Operations Department. Between 1997 and 2001, he worked as an economist in the Africa Department of the International Monetary Fund (IMF) before returning to the apex bank.

He subsequently rose through the ranks and served as Director of the Reserve Management Department for six years, retiring from the CBN in 2016.

If confirmed by the Senate, Yuguda is expected to bring decades of experience in central banking, capital market regulation, and international finance to the leadership of the CBN, as the government intensifies efforts to strengthen economic management and ensure financial stability in Nigeria.