Things to know about new CBN Deputy Gov nominee, Yuguda

President Bola Tinubu on Wednesday approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, subject to confirmation by the Senate.

Education
He has an M.Sc. in Money, Banking and Finance from the University of Birmingham, United Kingdom (1991)

– B.Sc. (Honours) in Accountancy – Ahmadu Bello University, Zaria, Nigeria (1983)

Professional experience
Central Bank of Nigeria, CBN, Director, Reserve Management Department (2010–2016)

He led teams responsible for managing and diversifying Nigeria’s foreign exchange reserves, implementing risk-aware investment strategies, and growing reserve assets significantly through disciplined portfolio management (cash, fixed-term deposits, foreign government treasury bills, etc.).

Various senior roles (2001–2010)
Focused on restructuring and diversifying the CBN’s foreign exchange reserve portfolio post-return from IMF.

– Senior Manager, Investment Office, Foreign Operations Department (1992–1997 onward progression)
He handled external debt service payments and investment of external reserves in liquid, high-quality assets.

Earlier assignments (1984–1992)
– Senior Supervisor, Foreign Operations Department (1984): Maintained Nigeria’s external debt records.
– Banking Supervision Department (1985): Worked on prudential regulation, bank licensing, and oversight.
– Debt Conversion Committee Secretariat (1988): Pioneer staff managing the Nigerian Debt Conversion Programme.

International Monetary Fund (IMF), Washington DC
– Economist, Africa Department (1997–2001)
He assessed economic policies and managed balance-of-payments support programs for IMF member countries in Africa.

Securities and Exchange Commission (SEC) Nigeria
– Director-General (2020–2024)
He oversaw regulation and development of Nigeria’s capital markets, driving reforms, investor protection, and market integrity initiatives. (Succeeded in 2024; previously served as a Board Member.)

Other affiliations
– Non-Executive Director, Africa Finance Corporation (AFC)
– Non-Executive Director, Premium Pension Limited
– Attended executive leadership programs at Harvard, INSEAD, IMD, Saïd Business School (Oxford), Wharton, Haas, Kellogg, Chicago Booth, and London Business School.

Professional Qualifications & Certifications

– CFA Charterholder (Chartered Financial Analyst)
– Fellow, Institute of Chartered Accountants of Nigeria (FCA, ICAN)
– Fellow, Chartered Institute of Bankers of Nigeria (FCIBN)
– Certificate in Financial Asset Management and Engineering – Swiss Finance Institute, Geneva, Switzerland
– Certificate in Investment Performance Management – CFA Institute, Charlottesville, Virginia, USA

Key Skills
– Reserve asset and foreign exchange portfolio management
– Monetary and economic policy analysis

Things to know about new CBN Deputy Gov nominee, Yuguda