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Breaking: CBN Redeploys All Four Deputy Governors in Major Leadership Shake-Up

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4 months ago

June 1, 2026

CBN Revokes Licences of 46 Microfinance Banks (FULL LIST)

Breaking: CBN Redeploys All Four Deputy Governors in Major Leadership Shake-Up

Abuja, Nigeria – The Central Bank of Nigeria (CBN) has announced a major redeployment of its Deputy Governors, assigning new portfolios to the bank’s top management team as part of an internal restructuring that took effect on June 1, 2026. The changes, reflected on the apex bank’s official website, involve the reassignment of all four Deputy Governors across key directorates, including Economic Policy, Corporate Services, Operations, and Financial System Stability.

Under the new arrangement, Dr. Muhammad Sani Abdullahi, who previously oversaw the Economic Policy Directorate, has been redeployed to head the Corporate Services Directorate. In his place, Mr. Philip Chukwuemeka Ikeazor, formerly Deputy Governor in charge of Financial System Stability, has been appointed Deputy Governor, Economic Policy. Similarly, Ms. Emem Nnana Usoro, who previously served as Deputy Governor, Corporate Services, has been reassigned to the Operations Directorate, while Mr. Lamido Abubakar Yuguda moves from Operations to head the Financial System Stability Directorate.

The redeployment comes at a time when the CBN is implementing wide-ranging reforms aimed at strengthening monetary policy effectiveness, deepening financial sector stability, and enhancing operational efficiency within the institution. The reshuffle follows the appointment and Senate confirmation of Lamido Yuguda as Deputy Governor, which was finalized in April 2026. Yuguda replaced Bala Bello, who was recently redeployed by President Bola Tinubu as Special Adviser on Political Economy.

As the new Deputy Governor for Economic Policy, Ikeazor brings more than three decades of banking and financial services experience to one of the CBN’s most strategic directorates, which is responsible for monetary policy coordination, inflation management, and macroeconomic analysis. Before the latest redeployment, he served as Deputy Governor, Financial System Stability. Ikeazor has held senior executive positions in several leading financial institutions, including Union Bank, United Bank for Africa (UBA), Ecobank, and Keystone Bank, where he served as Managing Director and Chief Executive Officer. His banking career spans both domestic and regional markets, with professional exposure in countries such as Kenya and Uganda, where he served as CEO of Ecobank Kenya Limited. Industry observers regard him as a seasoned banking executive with extensive experience in regulation, risk management, and corporate governance. Ikeazor holds a Bachelor of Science degree in Economics from the University of Buckingham and has completed executive education programmes at the Wharton School, as well as the Wharton-CEIBS-IESE Business School Global CEO Programme. He has held various board positions, including Director of Union Bank UK PLC and Director of the Orient Bank Uganda.

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Dr. Abdullahi, popularly known as Dattijo, now assumes responsibility for the Corporate Services Directorate after overseeing the bank’s economic policy functions following his appointment in 2023. An economist with expertise in development economics, governance, and public policy, Abdullahi has built a career spanning public service, international development institutions, and economic advisory roles. Before joining the CBN, he served as Commissioner for Budget and Economic Planning in Kaduna State and worked as a policy adviser with the United Nations, as well as a consultant to the World Bank. He has over two decades of policy experience and is recognized for his strong background in development economics. He earned his first degree in Economics from Ahmadu Bello University, Zaria, before pursuing advanced studies in the United Kingdom, including a master’s degree in Manchester and a doctorate from the University of Reading.

Mr. Lamido Yuguda will now oversee the Financial System Stability Directorate, a role that places him at the centre of efforts to safeguard the resilience of Nigeria’s banking and financial system. Yuguda was appointed Deputy Governor, Operations, in 2025 and previously served as Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024. He has more than 30 years of experience in financial regulation, capital markets, reserve management, and economic policy. His professional background includes service at the International Monetary Fund’s Africa Department from 1997 to 2001 and membership of the CBN’s Monetary Policy Committee. He began his career at the CBN in 1984 and later became Director of Reserve Management before retiring from the bank in 2016. A graduate of Accountancy from Ahmadu Bello University, Yuguda also holds a master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom, and is a Chartered Financial Analyst (CFA) . The Senate confirmed Yuguda’s nomination on Wednesday, April 29, 2026, following consideration of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions. During his screening, lawmakers invoked the traditional “take a bow and go” privilege, citing Yuguda’s prior engagements with the Senate, including his previous screening as Director-General of the Securities and Exchange Commission. Senate President Godswill Akpabio described Yuguda as “a square peg in a square hole” and commended President Tinubu for the appointment.

Ms. Usoro takes over as Deputy Governor, Operations, following her tenure in charge of Corporate Services. She previously served as Deputy Governor, Operations, from 2023 to 2025, making this a return to a directorate where she previously oversaw banking operations, branch operations, currency operations, information technology, and reserve management. She brings extensive experience in commercial banking and financial services, having worked across key areas including branch operations, credit administration, marketing, and business development. Before her appointment to the CBN leadership team in 2023, Usoro served as Executive Director at United Bank for Africa (UBA), where she developed and implemented strategic direction for Northern Nigeria, supervising 22 regional banks and 151 branches. Usoro holds a Bachelor of Science degree from the University of Uyo and a Master of Business Administration from Obafemi Awolowo University. She is a Fellow of the Chartered Institute of Bankers of Nigeria (CIBN) . Her professional development includes senior management programmes at Lagos Business School and executive education at the University of Pretoria, as well as attending Harvard Business School.

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The latest management reshuffle signals the CBN’s effort to leverage the diverse expertise of its deputy governors across critical areas of the institution as it navigates evolving monetary, regulatory, and financial stability challenges in Africa’s largest economy. With the banking recapitalisation exercise ongoing and the transition to an inflation-targeting framework underway, the new portfolio assignments are expected to optimise the deployment of the deputy governors’ skills across the apex bank’s core functions. As the new Deputy Governor for Financial System Stability, Yuguda will play a central role in safeguarding banking sector resilience. Ikeazor, now heading Economic Policy, will be responsible for monetary policy coordination, inflation management, and macroeconomic analysis. Usoro’s return to Operations places an experienced commercial banker in charge of currency management and banking operations, while Abdullahi’s move to Corporate Services will see him oversee the bank’s internal administration and governance structures.

The management shake-up also coincides with the CBN’s transition to a new inflation-targeting monetary policy framework. In May 2026, the Deputy Governor in charge of Economic Policy (then Muhammad Sani Abdullahi) engaged with state governments through the Nigeria Governors’ Forum Secretariat to deepen coordination on the new framework. Abdullahi warned that uncoordinated fiscal actions by states could weaken monetary policy signals and frustrate efforts aimed at controlling inflation.

For quick reference, the new portfolio assignments are as follows: Philip Chukwuemeka Ikeazor moves from Financial System Stability to Economic Policy; Dr. Muhammad Sani Abdullahi moves from Economic Policy to Corporate Services; Lamido Abubakar Yuguda moves from Operations to Financial System Stability; and Emem Nnana Usoro moves from Corporate Services to Operations. Key takeaways from the redeployment include that it affects all four deputy governors and took effect June 1, 2026; Philip Ikeazor moves from Financial Stability to lead Economic Policy; Lamido Yuguda leaves Operations to head Financial System Stability after Senate confirmation; Emem Usoro returns to Operations, a directorate she previously led; Muhammad Sani Abdullahi shifts from Economic Policy to Corporate Services; the changes come amid ongoing banking recapitalisation and a shift to inflation-targeting; and Yuguda was confirmed by the Senate in April 2026 with a “take a bow and go” privilege.

Breaking: CBN Redeploys All Four Deputy Governors in Major Leadership Shake-Up

Related Topics:CBN Deputy Governors Featured Leadership

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Police Arrest Five, Recover Three Guns, Ammunition in Enugu

Published

43 minutes ago

October 8, 2026

Trends Admin

Commissioner of Police in Enugu State, CP Mamman Bitrus Giwa

Police Arrest Five, Recover Three Guns, Ammunition in Enugu

The Enugu State Police Command has arrested five suspects in separate operations across the state and recovered three firearms, six rounds of live ammunition and other exhibits.

The arrests were made between September 18 and October 7, 2026, as part of the command’s ongoing intelligence-led operations against armed robbery, cultism and other violent crimes.

In the latest operation, operatives of the Inyi Police Division responded to a distress call over an alleged armed robbery at Umuaor, Umukabia Isiama Awlaw community in Oji River Local Government Area at about 5:10 a.m. on October 7.

The operation led to the arrest of 26-year-old Arinze Osita Onwuaso, while other suspects reportedly fled the scene.

Police said operatives recovered a locally made cut-to-size single-barrel gun, two live cartridges, a pry bar, hammer, scissors and chisel from him.

In another operation on October 5, operatives of the Anti-Cultism Section of the Violent Crime Response Unit, attached to the Nsukka sector, arrested two suspected cult members at Umudioka community in Nsukka Local Government Area.

The suspects were identified as 24-year-old Jonas Adejo, also known as J-Money, and 25-year-old Okoro Innocent, also known as Virus.

According to the police, three rounds of 9mm ammunition were recovered from the two suspects.

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The command said the suspects allegedly confessed during interrogation to belonging to the Supreme Vikings Confraternity, an allegation they would have the opportunity to challenge in court.

A separate operation on September 25 resulted in the arrest of 25-year-old Anichebe Ogbonna at an alleged criminal hideout in Amagu Mpu community, Aninri Local Government Area.

Police operatives, working with members of the Neighbourhood Watch Group, reportedly raided the location following intelligence on suspected criminal activities.

A locally made pistol was allegedly recovered from Ogbonna.

Meanwhile, operatives of the 9th Mile Police Division arrested 38-year-old Chukwujekwu Chukwuemeka at Ameke-Ngwo, Udi Local Government Area, at about 11 p.m. on September 18.

The police said Chukwuemeka was arrested following information allegedly linking him to armed robbery activities in the area.

A cut-to-size pump-action gun and one live cartridge were reportedly recovered from him.

The four operations produced a total of five arrests, three firearms and six rounds of ammunition, with investigations continuing into the alleged offences and the suspects’ individual roles.

The Commissioner of Police in Enugu State, CP Mamman Bitrus Giwa, commended the officers involved and residents whose information assisted the operations.

Giwa urged residents to continue providing credible information to the police to help prevent armed robbery, cult-related violence and other security threats across the state.

The suspects remain presumed innocent unless proven guilty by a court of law.

Police Arrest Five, Recover Three Guns, Ammunition in Enugu

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Court Grants Alleged Fake JAMB Registrar N50m Bail, Sets Strict Conditions

Published

4 hours ago

October 8, 2026

Trends Admin

Arinze Nwogba

Court Grants Alleged Fake JAMB Registrar N50m Bail, Sets Strict Conditions

The Federal High Court in Abuja has granted N50 million bail to Arinze Nwogba, who is facing trial for allegedly impersonating the Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Segun Aina.

Justice Salim Ibrahim, in a ruling on Thursday, admitted Nwogba to bail in the sum of N50 million with two sureties in like sum.

The judge held that the alleged offence was bailable and not a capital offence, while noting that Nwogba had indicated through his bail application that he would not abscond and would make himself available for trial.

The court, however, attached stringent conditions to the bail.

One of the sureties must be a Federal Government civil servant not below Grade Level 14, while both sureties must reside within the Federal Capital Territory, Abuja.

The judge further directed that one of the sureties must reside in Asokoro, Maitama or Guzape.

Each surety is required to swear an affidavit of means and submit a tax clearance certificate covering the previous two years.

The court also ordered Nwogba and the sureties to submit photocopies of their National Identification slips.

The court registrar was directed to verify the bail documents and issue a report, with the prosecution also required to participate in the verification process.

Importantly, the ruling does not mean Nwogba walks out of custody immediately. He is to remain at the Kuje Correctional Centre until the bail conditions are perfected.

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The case has been adjourned until October 19, 2026, for commencement of trial.

Nwogba is being prosecuted by the Inspector-General of Police on a six-count charge marked FHC/ABJ/CR/612/2026.

The police allege that he impersonated Professor Aina by using the JAMB registrar’s photograph on WhatsApp and Truecaller, allegedly with the intention of obtaining financial advantage.

According to the prosecution, a petition was submitted to the Inspector-General of Police over a suspected criminal operation involving the unauthorised use of the registrar’s name, photograph and telephone number to deceive members of the public.

The police alleged that the suspects also used LinkedIn and WhatsApp to approach prospective victims with purported government contracts.

In one alleged scheme, the impersonators reportedly claimed that the Federal Ministry of Education had approved the supply of 200 HP laptops as part of a digitisation programme.

The prosecution alleged that prospective beneficiaries were subsequently asked to make payments, including N900,000 described as an initial “handshake” and another N3 million purportedly for officials of the ministry.

The police said Nwogba was arrested in Abakaliki, Ebonyi State, during investigations into the alleged impersonation.

The prosecution further alleged that Nwogba used the operational name Dr Stephen Igwe and admitted forwarding bank account details to a relative allegedly connected with the fraudulent operation.

Another alleged member of the operation, identified by the police as Nnabuife Nwekpa, is said to be at large.

Nwogba pleaded not guilty to the six-count charge and remains presumed innocent unless and until the prosecution proves the allegations against him in court.

The bail ruling therefore allows him an opportunity to secure his release pending trial, but only after satisfying the conditions imposed by the court.

Court Grants Alleged Fake JAMB Registrar N50m Bail, Sets Strict Conditions

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NESREA to Honour Lagos Baale After Dramatic Rescue of Endangered Sea Turtle

Published

5 hours ago

October 8, 2026

Trends Admin

NESREA to Honour Lagos Baale After Dramatic Rescue of Endangered Sea Turtle

The National Environmental Standards and Regulations Enforcement Agency (NESREA) is set to honour the Baale of Okun Igando in Ibeju-Lekki, Lagos State, Chief Semiu Waliu Jejelaiye, after he intervened to save a large sea turtle from being killed by fishermen.

The development followed the rescue of the marine animal after it became entangled in a fishing net along the coastline of the community.

The fishermen reportedly initially believed they had caught a large fish. However, the situation changed after the Baale intervened and stopped attempts to kill or sell the animal.

Chief Jejelaiye urged the fishermen and other residents to release the turtle, while explaining the importance of protecting endangered and threatened marine species.

The fishermen, with the assistance of other community members, carefully freed the animal from the net and returned it alive to the Atlantic Ocean.

The rescue attracted widespread attention after footage of the incident circulated online, with many Nigerians commending the community for choosing to protect the animal rather than kill it.

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NESREA has subsequently commended the Baale and the local fishing community for their intervention, describing the rescue as an example of grassroots environmental conservation.

The agency is expected to issue a Letter of Commendation to Chief Jejelaiye in recognition of his role in preventing harm to the marine animal and promoting wildlife protection within the community.

The incident has also renewed attention to the challenges facing sea turtles in Nigeria, particularly along the Lagos coastline.

Sea turtles are exposed to several threats, including accidental capture in fishing nets, destruction of nesting habitats, pollution, illegal hunting and human consumption.

Conservation efforts in the Ibeju-Lekki area have previously focused on educating fishing communities about the importance of protecting sea turtles and finding ways to reduce conflicts between conservation and fishing activities.

The latest rescue also highlights the role that traditional rulers and coastal communities can play in protecting endangered wildlife.

NESREA, which is responsible for enforcing Nigeria’s environmental laws and regulations, has continued to advocate stronger community participation in biodiversity conservation and environmental protection.

The rescued turtle was identified in reports as a leatherback sea turtle, one of the largest living turtle species. Leatherback turtles face serious threats globally from fishing gear, habitat loss, pollution and other human activities.

The successful release of the turtle back into the ocean has been described as a positive example of what can happen when local communities respond quickly to protect threatened wildlife.

The development is also expected to strengthen calls for greater awareness among fishermen and residents of Nigeria’s coastal communities on how to safely handle marine animals accidentally caught in fishing nets.

For Okun Igando, the intervention by the Baale has turned what could have been the death of a rare marine animal into a notable wildlife conservation success story.