Olayemi Cardoso, governor, Central Bank of Nigeria (CBN) has redeployed the bank’s four deputy governors in a leadership reshuffle aimed at strengthening policy coordination and regulatory oversight as the institution advances a broad reform agenda.
- +Cardoso redeploys deputy governors in minor shake-upp
- +…Ikeazor takes over economic policy, Abdullahi, corporate services
The changes, which took effect on June 1, were reflected on the central bank’s official website and saw all four deputy governors assume new responsibilities across key policy and operational directorates.
…Ikeazor takes over economic policy, Abdullahi, corporate services
The changes, which took effect on June 1, were reflected on the central bank’s official website and saw all four deputy governors assume new responsibilities across key policy and operational directorates.
Under the new structure, Muhammad Sani Abdullahi, previously deputy governor in charge of economic policy, moves to head the Corporate Services Directorate, while Philip Ikeazor takes over the Economic Policy Directorate. Emem Usoro, formerly responsible for corporate services, will now oversee the Operations Directorate, while Lamido Yuguda moves from operations to lead the Financial System Stability Directorate.
The redeployment comes as the central bank pursues measures aimed at curbing inflation, strengthening financial system resilience, supporting banking sector recapitalisation and restoring investor confidence in Nigeria’s financial markets.
Ikeazor’s appointment places one of the bank’s most experienced commercial bankers at the centre of economic policy formulation and research.
Before the latest changes, he served as deputy governor for financial system stability and previously held senior management positions at Union Bank, United Bank for Africa and Ecobank. He also served as managing director and chief executive officer of Keystone Bank.
With more than three decades of banking experience across Nigeria and other African markets, including Kenya and Uganda, Ikeazor is expected to bring significant industry expertise to the central bank’s policy framework. He studied economics at the University of Buckingham and completed the Wharton Executive Programme. Abdullahi, who now assumes responsibility for corporate services, is regarded as one of Nigeria’s leading development economists.
Before joining the apex bank, he served as commissioner for budget and economic planning in Kaduna State and worked as a policy adviser with the United Nations and consultant to the World Bank.
A graduate of Ahmadu Bello University, Zaria, Abdullahi holds advanced degrees from institutions in the United Kingdom, including a doctorate from the University of Reading. His career spans more than two decades in economic planning, governance and development policy.
Yuguda’s transfer to financial system stability aligns with his long-standing experience in financial regulation and market oversight.
Prior to his appointment as deputy governor for operations in 2025, he served as director-general of the Securities and Exchange Commission and was a member of the central bank’s Monetary Policy Committee.
His more than 30 years of experience covers reserve management, capital market regulation and economic policy, including service with the International Monetary Fund’s African Department.
He holds degrees from Ahmadu Bello University and the University of Birmingham and is a Chartered Financial Analyst.
Usoro, who now heads operations, brings extensive commercial banking experience to the role. Before joining the central bank’s leadership team, she held senior management positions at United Bank for Africa, including executive director.
Her professional background spans banking operations, credit administration, marketing and branch management.
