CBN moves to enhance monetary policy, reassigns deputy governors in strategic shake-up
The Central Bank of Nigeria has approved the redeployment of its Deputy Governors with effect from June 1, 2026, in what appears to be a strategic internal realignment aimed at strengthening policy coordination and financial system oversight.
The reshuffle places Mr. Philip Ikeazor in charge of Economic Policy, Dr. Muhammad Sani Abdullahi in Corporate Services, Ms. Emem Usoro in Operations, and Mr. Lamido Yuguda in Financial System Stability, effectively redistributing key leadership responsibilities across the apex bank’s core functions.
According to the bank, the changes were formally reflected on its official website and are intended to enhance institutional efficiency at a critical stage of ongoing monetary and financial sector reforms.
The realignment is widely viewed as part of efforts to support major policy priorities, including disinflation, banking sector recapitalisation, improved payment systems, and the restoration of confidence in Nigeria’s financial markets.
Mr. Philip Ikeazor, now Deputy Governor for Economic Policy, brings over three decades of banking experience, having previously overseen Financial System Stability at the CBN and held senior executive roles at Union Bank, United Bank for Africa, Ecobank, and Keystone Bank, where he served as Managing Director and Chief Executive.
Dr. Muhammad Sani Abdullahi, who moves to Corporate Services, is a development economist with extensive experience in public policy and governance. He previously served as Deputy Governor for Economic Policy, Kaduna State Commissioner for Budget and Economic Planning, and worked as a United Nations policy adviser and World Bank consultant.
Mr. Lamido Yuguda, now overseeing Financial System Stability, is a seasoned technocrat with decades of experience in capital markets and reserves management. He is a former Director-General of the Securities and Exchange Commission and previously served in the International Monetary Fund’s Africa Department.
Ms. Emem Nnana Usoro, now in charge of Operations, has over 20 years of experience in the banking and financial services sector. She previously served as Deputy Governor for Corporate Services and held senior executive roles at the United Bank for Africa, with additional training at Lagos Business School and Harvard Business School.
