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The Central Bank of Nigeria (CBN) has announced the transfer of its Deputy Governors, and the four officials will resume their new posts from 1 June 2026.
The apex bank announced this in an update on its official website, indicating new responsibilities as the institution continues to oversee monetary policy, financial sector regulation and other important functions in the country’s economy.
Based on the new arrangement, Dr. Muhammad Sani Abdullahi has been transferred from the Directorate of Economic Policy to Head of Corporate Services. Taking over the Directorate of Economic Policy is Mr Philip Chukwuemeka Ikeazor. This restructuring has also seen Ms Emem Nnana Usoro leave Corporate Services to oversee Operations, while Mr Lamido Abubakar Yuguda has been transferred from Operations to the Directorate of Financial System Stability.
The latest changes come as the Central Bank continues to work to strengthen its internal processes and improve coordination between departments responsible for policy implementation, banking supervision and institutional management.
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Although the CBN did not provide a reason for the move, such changes are typically made in large organizations to leverage the experience of senior officials in various areas of responsibility and to support evolving institutional priorities.
The Economic Policy Directorate plays an important role in economic research and policy assessments that guide decision making regarding interest rates, inflation management and other monetary policy measures. The Corporate Services Directorate oversees administrative and support functions that ensure the smooth running of the institution.
The Operations Directorate is responsible for various activities related to the implementation of the bank’s day-to-day responsibilities, including currency management and payment system operations. The Financial System Stability Directorate focuses on monitoring risks in the banking sector and ensuring the health of the financial system as a whole.
