The Central Bank of Nigeria, CBN, has redeployed its four Deputy Governors and assigned them new portfolios as part of an internal restructuring aimed at enhancing operational efficiency and strengthening the bank’s core functions.
The redeployment, which took effect on June 1, 2026, was reflected on the apex bank’s official website and affected key directorates, including Economic Policy, Corporate Services, Operations and Financial System Stability.
Under the new arrangement, Dr. Muhammad Sani Abdullahi has been moved from the Economic Policy Directorate to head the Corporate Services Directorate.
Similarly, Mr. Philip Chukwuemeka Ikeazor, who previously oversaw the Financial System Stability Directorate, has been appointed Deputy Governor in charge of Economic Policy.
Ms. Emem Nnana Usoro, formerly responsible for Corporate Services, has been reassigned to the Operations Directorate, while Mr. Lamido Abubakar Yuguda now heads the Financial System Stability Directorate after serving in Operations.
The development comes as the CBN continues to implement reforms aimed at strengthening monetary policy effectiveness, deepening financial sector stability and improving institutional performance.
Ikeazor, who now oversees the Economic Policy Directorate, brings over three decades of banking and financial services experience to the role.
Before his latest appointment, he served as Deputy Governor, Financial System Stability, and had held senior executive positions at several financial institutions, including Union Bank, United Bank for Africa, UBA, Ecobank and Keystone Bank, where he served as Managing Director and Chief Executive Officer.
He holds a degree in Economics from the University of Buckingham and has attended executive programmes at the Wharton School.
Abdullahi, popularly known as Dattijo, will now oversee the Corporate Services Directorate after leading the bank’s economic policy functions.
An economist with expertise in development economics, governance and public policy, he previously served as Kaduna State Commissioner for Budget and Economic Planning. He also worked as a policy adviser with the United Nations and as a consultant to the World Bank.
He studied Economics at Ahmadu Bello University, Zaria, and later earned a doctorate from the University of Reading, United Kingdom.
Yuguda’s new role places him at the centre of efforts to maintain the stability and resilience of Nigeria’s banking and financial system.
Before joining the CBN leadership team, he served as Director-General of the Securities and Exchange Commission, SEC. He also worked with the International Monetary Fund’s Africa Department and was a member of the CBN’s Monetary Policy Committee.
A graduate of Accountancy from Ahmadu Bello University, Yuguda holds a master’s degree from the University of Birmingham and is a Chartered Financial Analyst, CFA.
Usoro, who now heads the Operations Directorate, previously served as Deputy Governor in charge of Corporate Services.
Prior to her appointment to the CBN, she was an Executive Director at United Bank for Africa and built a career spanning branch operations, credit administration, marketing and business development.
She is a Fellow of the Chartered Institute of Bankers of Nigeria and has attended executive development programmes at Lagos Business School and Harvard Business School.
The management reshuffle is expected to leverage the diverse expertise of the deputy governors across critical areas of the apex bank as it navigates evolving monetary, regulatory and financial stability challenges.
