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By Victor Osula, Abuja
The Central Bank of Nigeria (CBN) has carried out a major reshuffle of the portfolios of its deputy governors as the apex bank steps up efforts to strengthen monetary policy coordination, banking sector supervision and institutional governance.
The reorganization follows the Senate’s nomination and confirmation of Lamido Yuguda as deputy governor responsible for 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 director general of the Securities and Exchange Commission 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 was moved from the Directorate for Financial System Stability to head the Directorate for Economic Policy, one of the most strategic divisions of the CBN, responsible for monetary policy coordination, inflation management and macroeconomic analysis. Ikeazor previously oversaw banking regulation and financial sector supervision following his appointment in 2023.
Muhammad Sani Abdullahi Dattijo, who previously oversaw economic policy, has now been reassigned to head corporate services. Dattijo, a development economist and former UN advisor, has played a key role in shaping several policy reforms since joining the apex bank.
Meanwhile, Emem Usoro has returned to operations management after a stint in corporate services. Usoro, a career banker with extensive experience in commercial banking operations, recently defended the CBN’s reform measures, arguing that coordinated fiscal and monetary policies have helped stabilize the foreign exchange market and prevented deep economic disruptions.
The reshuffle comes at a crucial period for the CBN as it concludes the ongoing bank recapitalization exercise and seeks to consolidate reforms aimed at restoring investor confidence, strengthening transparency and maintaining the stability of the financial system.
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