PRESIDENT Bola Tinubu has nominated Lamido Abubakar Yuguda for appointment as a deputy governor of the Central Bank of Nigeria (CBN).

The nomination, which requires approval by the Senate, was disclosed in a statement issued on Wednesday by president’s Special Adviser on Information and Strategy, Mr Bayo Onanuga.

According to the presidency, the nomination was made in line with Section 8(1) of the Central Bank of Nigeria (CBN) Act, 2007.

The statement noted that Yuguda’s nomination comes after the former CBN deputy governor, Bala Bello, was recently appointed as special adviser to the president on political economy.

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Tinubu urged the new appointee and others in government to carry out their duties with professionalism and dedication in support of Nigeria’s economic stability and growth.

Yuguda previously served as director-general of the Securities and Exchange Commission (SEC), a role he held between 2020 and 2024 after being confirmed by the Senate on June 10, 2020.

An alumnus of Ahmadu Bello University, he earned a bachelor’s degree in accountancy in 1983. He later obtained a master’s degree in money, banking and finance from the University of Birmingham in the United Kingdom in 1991.

He is also a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a charterholder of the CFA Institute.

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 retired from the CBN in 2016 after serving for six years as director of the Reserve Management Department.

In February 2024, he was also confirmed alongside 12 others as members of the CBN’s Monetary Policy Committee (MPC).