The Central Bank of Nigeria (CBN) has reassigned all four deputy governors in a major leadership reshuffle aimed at strengthening coordination across the institution.
The changes took effect on June 1, 2026, and were reflected in an updated management profile published on the apex bank’s official website on Monday.
Under the new arrangement, Philip Ikeazor has been appointed Deputy Governor in charge of the Policy Directorate, a position previously held by Dr Muhammad Abdullahi.
Abdullahi has been reassigned to oversee the Corporate Services Directorate.
The reshuffle also saw Emem Usoro, formerly Deputy Governor in charge of Corporate Services, move to the Operations Directorate.
Meanwhile, Lamido Yuguda was transferred from the Operations Directorate to the Financial System Stability Directorate.
The CBN said the reassignment was designed to improve collaboration across strategic departments and ensure leadership responsibilities align with the institution’s evolving priorities.
According to the bank, the exercise will enable it to leverage the expertise and experience of senior officials across different operational areas.
The apex bank noted that the changes are part of efforts to enhance institutional effectiveness and support the delivery of its policy objectives.
The latest reshuffle comes as the CBN continues to implement reforms aimed at strengthening monetary policy, improving financial system stability, enhancing operational efficiency, and supporting broader economic development goals.
Analysts say leadership rotations within key departments can help deepen institutional knowledge, improve cross-functional coordination, and provide fresh perspectives on policy implementation.
The reassignment places the four deputy governors at the centre of some of the bank’s most critical functions, including monetary policy formulation, financial system oversight, operational management, and corporate administration.
The CBN has not announced any further changes to its executive management structure.
