CBN Reshuffles Deputy Governors to Enhance Oversight

The Central Bank of Nigeria (CBN) executed a significant reshuffle of its deputy governors on June 1, 2026, aimed at strengthening policy coordination and regulatory oversight amid ongoing reforms in the financial sector. Dr.

Muhammad Sani Abdullahi was reassigned to head the Economic Policy Directorate, while Mr. Philip Chukwuemeka Ikeazor took over as Deputy Governor for Corporate Services.

Ms. Emem Nnana Usoro was appointed as the Operations Director, and Mr.

Lamido Abubakar Yuguda, previously in charge of Operations, will now coordinate the Financial System Stability Directorate. This restructuring comes as the CBN implements a range of reforms to tackle inflationary pressures and enhance the resilience of the financial system.

Ikeazor brings extensive banking experience, having held senior positions at Union Bank, UBA, and Ecobank. Abdullahi, a former commissioner in Kaduna State, has a background in economic planning and public policy.

Yuguda has over 30 years of experience in financial regulation and market oversight, while Usoro has a strong background in commercial banking and financial services management.