May 11, (THEWILL) — The Central Bank of Nigeria (CBN) has carried out a major reshuffle of its deputy governors’ portfolios as the apex bank intensifies efforts to strengthen monetary policy coordination, banking sector oversight and institutional governance.
The reshuffle follows the appointment and Senate confirmation of Lamido Yuguda as Deputy Governor in charge of the Financial System Stability Directorate. Yuguda replaces Bala Bello, who was recently redeployed by President Bola Tinubu as Special Adviser on Political Economy. The former Securities and Exchange Commission Director-General is widely regarded as an experienced financial regulator, having also served at the International Monetary Fund and the CBN before his retirement in 2016.
As part of the internal restructuring, Philip Ikeazor has been moved from the Financial System Stability Directorate to head the Economic Policy Directorate, one of the CBN’s most strategic divisions, responsible for monetary policy coordination, inflation management and macroeconomic analysis. Ikeazor previously supervised banking regulation and financial sector oversight after his appointment in 2023.
Muhammad Sani Abdullahi Dattijo, who formerly oversaw Economic Policy, has now been reassigned to the Corporate Services Directorate. Dattijo, a development economist and former adviser at the United Nations, has played a key role in shaping several policy reforms since joining the apex bank.
Meanwhile, Emem Usoro has returned to the Operations Directorate after a stint in Corporate Services. Usoro, a career banker with extensive experience in commercial banking operations, has recently defended the CBN’s reform measures, arguing that coordinated fiscal and monetary policies helped stabilise the foreign exchange market and prevented deeper economic disruptions.
The reshuffle comes at a crucial period for the CBN as it concludes the ongoing banking recapitalisation exercise and seeks to consolidate reforms aimed at restoring investor confidence, strengthening transparency and maintaining financial system stability.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
