ABUJA, Nigeria (VOICE OF NAIJA)-The Central Bank of Nigeria has redeployed its four Deputy Governors in a management shake-up aimed at strengthening its leadership structure and improving operational efficiency.
The changes, which took effect on June 1, 2026, were reflected in an updated profile on the apex bank’s official website on Monday.
Under the new arrangement, Deputy Governor in charge of Economic Policy, Dr Muhammad Abdullahi, has been moved to the Corporate Services Directorate, while Mr Philip Ikeazor now takes over the Economic Policy Directorate.
The restructuring also saw the Deputy Governor for Corporate Services, Ms Emem Usoro, reassigned to the Operations Directorate, while Mr Lamido Yuguda was moved from Operations to the Financial System Stability Directorate.
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The latest redeployment reshapes leadership across key departments responsible for policy formulation, banking sector supervision, institutional administration and core operational execution within the apex bank.
Although the CBN did not give reasons for the changes, the exercise is expected to improve coordination across strategic departments and align leadership roles with evolving institutional priorities.
The Economic Policy Directorate is responsible for economic analysis, monetary policy formulation and the assessment of macroeconomic trends that guide decisions on interest rates, inflation and growth.
The Corporate Services Directorate handles administrative and support functions essential to the daily running of the institution.
Similarly, the Operations Directorate oversees core banking activities, including currency management and payment system operations, while the Financial System Stability Directorate is tasked with monitoring risks in the financial system and strengthening the resilience of the banking sector.
The redeployment comes amid ongoing reforms by the apex bank aimed at strengthening regulatory oversight, improving institutional performance and supporting macroeconomic stability.
It also aligns with efforts to boost confidence in the financial system and enhance policy implementation across its directorates.
Earlier in March 2026, President Bola Tinubu nominated former Director-General of the Securities and Exchange Commission, Lamido Yuguda, as Deputy Governor of the Central Bank of Nigeria.
The nomination was announced in a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
Onanuga said Yuguda’s nomination followed the appointment of former CBN Deputy Governor Bala Bello as Special Adviser to the President on Political Economy.