The Central Bank of Nigeria (CBN) has announced the appointment of 16 directors to head various critical departments within the apex bank. The appointments, which took effect on March 3, are aimed at enhancing the CBN’s operational efficiency and reinforcing its capacity to deliver on its policy, regulatory, and supervisory mandates.
The newly appointed directors bring a wealth of experience and expertise to their respective roles. Among the key appointments are Jide-Samuel Avbasowamen, who will lead the Information Technology Department; Abdullahi Hamisu, appointed as Director of the Banking Services Department; and Ojumu Adenike, who will oversee the Medical Services Department. Makinde Olanrewaju has been named head of the Procurement and Support Services Department.
In the financial sector, Sike Ijeoma has been appointed Director of the Financial Policy and Regulation Department, while Isa-Olatinwo Aisha will head the Consumer Protection Department. Oboh Victor Ugbem takes charge of the Monetary Policy Department, a critical arm of the CBN responsible for shaping Nigeria’s monetary policy framework.
Other notable appointments include Nakorji Musa, who will lead the Trade and Exchange Department; Yusuf Rakiya, appointed to oversee the Payments System Supervision Department; and Vincent Modesola, who will direct the Strategy Management and Innovation Department. Farouk Muhammad has been named head of the Reserve Management Department, while Akinwunmi Olubukola Akinniyi will steer the Banking Supervision Department.
Further appointments include Solaja Mohammed-Jamiu, who will head the Other Financial Institutions’ Supervision Department (OFISD); Hassan Umar, appointed to lead the Development and Finance Institutions Supervision Department; and Adedeji Adetona, who will manage the Currency Operations and Branch Management Department. Okpanachi Moses rounds out the list as the new head of the Statistics Department.
The CBN’s decision to appoint these directors reflects its commitment to strengthening its operational framework and addressing the evolving challenges in Nigeria’s financial sector. The new leadership is expected to drive innovation, enhance regulatory oversight, and ensure the effective implementation of the bank’s policies aimed at fostering economic stability and growth.
These appointments come at a pivotal time for the CBN as it continues to navigate complex economic dynamics and implement measures to stabilize the nation’s financial system. The newly appointed directors are expected to play crucial roles in advancing the bank’s strategic objectives and maintaining its position as a key driver of Nigeria’s economic development.
The CBN has expressed confidence that the new leadership will bring fresh perspectives and renewed vigor to its operations, ultimately contributing to the achievement of its mandate to ensure monetary and price stability, as well as a sound financial system in Nigeria.
