The Central Bank of Nigeria has reassigned all four of its deputy governors to new directorates effective June 1, 2026, placing experienced professionals at the helm of each of the apex bank’s critical policy and operational functions as it navigates a complex macroeconomic environment and pursues ongoing financial sector reforms.

Under the new arrangement, Philip Chukwuemeka Ikeazor has assumed responsibility for the Economic Policy Directorate, taking over from Dr. Muhammad Sani Abdullahi who has been reassigned to head Corporate Services. Emem Nnana Usoro has moved from Corporate Services to oversee the Operations Directorate, while Lamido Abubakar Yuguda, previously in charge of Operations, now heads the Financial System Stability Directorate.

Ikeazor brings more than three decades of banking experience across Nigeria and African markets including Kenya and Uganda to the Economic Policy role, having previously served as Managing Director and Chief Executive of Keystone Bank and in senior executive positions at Union Bank, United Bank for Africa, and Ecobank. He holds an economics degree from the University of Buckingham and completed the Wharton Executive Programme.

Abdullahi, now heading Corporate Services, is regarded as one of Nigeria’s leading development economists and public policy experts. He previously served as Commissioner for Budget and Economic Planning in Kaduna State, worked as a policy adviser with the United Nations, and served as a consultant to the World Bank. He holds a doctorate from the University of Reading.

Yuguda, returning to a role aligned with his background in financial regulation, previously served as Director-General of the Securities and Exchange Commission and as a member of the CBN Monetary Policy Committee. He accumulated more than 30 years of experience covering reserve management, capital market regulation, and economic policy, including work with the IMF’s African Department.

Usoro, now overseeing Operations, held senior management positions at United Bank for Africa including Executive Director before joining the CBN leadership. She is a Fellow of the Chartered Institute of Bankers of Nigeria, an alumna of Lagos Business School, and attended Harvard Business School.