The Central Bank of Nigeria (CBN) has announced a reshuffle involving its Deputy Governors, with the changes taking effect from June 1, 2026.

The apex bank disclosed the new appointments through an update on its official website, showing fresh responsibilities for the four Deputy Governors as the institution continues to oversee monetary policy, financial sector regulation and other key functions of the nation’s economy.

Under the new arrangement, Dr. Muhammad Sani Abdullahi has been moved from the Economic Policy Directorate to head Corporate Services. Taking over the Economic Policy Directorate is Mr. Philip Chukwuemeka Ikeazor.

The restructuring also sees Ms. Emem Nnana Usoro leaving Corporate Services to supervise Operations, while Mr. Lamido Abubakar Yuguda has been transferred from Operations to the Financial System Stability Directorate.

The latest changes come as the Central Bank continues efforts to strengthen its internal processes and improve coordination across departments responsible for policy implementation, banking supervision and institutional management.

Although the CBN did not provide reasons for the redeployment, such changes are commonly carried out in large organisations to make use of the experience of senior officials in different areas of responsibility and to support evolving institutional priorities.

The Economic Policy Directorate plays an important role in economic research and policy assessment that guide decisions on interest rates, inflation management and other monetary policy measures. The Corporate Services Directorate oversees administrative and support functions that ensure the smooth running of the institution.

The Operations Directorate is responsible for a range of activities linked to the execution of the bank’s day-to-day responsibilities, including currency management and payment system operations. The Financial System Stability Directorate focuses on monitoring risks within the banking sector’ and ensuring the overall health of the financial system.

The redeployment takes place at a period when the Central Bank is pursuing reforms aimed at strengthening confidence in the financial sector, improving regulatory effectiveness and supporting macroeconomic stability. (The Nation, excluding headline)