CBN Redeploys 4 Deputy Governors in Major Leadership Reshuffle

The Central Bank of Nigeria (CBN) has announced the redeployment of four deputy governors as part of efforts to strengthen institutional effectiveness and align leadership responsibilities with evolving priorities.

The changes, which took effect on June 1, were disclosed in an update published on the apex bank’s website.

Under the new arrangement, Deputy Governor Muhammad Abdullahi has been moved from the Economic Policy Directorate to head the Corporate Services Directorate, where he will oversee administrative and support operations critical to the bank’s day-to-day functioning.

Deputy Governor Philip Ikeazor will now lead the Economic Policy Directorate, taking charge of economic research, policy evaluation, and analyses that inform key monetary policy decisions, including interest rate management and inflation control.

Similarly, Deputy Governor Emem Usoro has been reassigned from Corporate Services to the Operations Directorate. In her new role, she will supervise core operational activities such as currency management and payment system operations.

Lamido Yuguda has been transferred from the Operations Directorate to the Financial System Stability Directorate, where he will focus on monitoring risks within the banking sector and safeguarding the stability of Nigeria’s financial system.

According to the CBN, the redeployment is aimed at leveraging the experience of its senior officials across different areas of responsibility while supporting the institution’s evolving strategic objectives.

The leadership reshuffle forms part of the bank’s broader reform agenda aimed at strengthening confidence in the financial sector, enhancing regulatory efficiency, and promoting macroeconomic stability.