President Bola Tinubu has nominated a former Director-General of the Securities and Exchange Commission, Lamido Yuguda, as deputy governor of the Central Bank of Nigeria (CBN).

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement on Wednesday.

He said the nomination is subject to confirmation by the Senate, adding that the appointment was made in line with Section 8(1) of the Central Bank of Nigeria Act, 2007.

“The President charges them to discharge their responsibilities with renewed dedication, professionalism, and commitment to Nigeria’s economic stability and growth, in their respective roles,” the statement read.

The President urged the nominee to discharge his duties with professionalism and commitment to Nigeria’s economic stability and growth.

Yuguda served as Director-General of the SEC from 2020 to 2024.

Yuguda’s nomination follows the recent appointment of the former CBN Deputy Governor, Bala Bello, as Special Adviser to the President on Political Economy.

The economist is also said to be a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a charterholder of the CFA Institute.

Yuguda reportedly began his career at the CBN in 1984 as a senior supervisor in the foreign operations department, and later worked as an economist in the Africa department of the International Monetary Fund (IMF) from 1997 to 2001 before returning to the CBN.

He retired from the apex bank in 2016 after serving as director of the reserve management department for six years.

On February 22, 2024, Yuguda was confirmed alongside 12 persons as members of the monetary policy committee (MPC) of the CBN.