Central Bank of Nigeria Appoints 16 New Directors in Major Restructuring
The Central Bank of Nigeria appointed 16 new directors in key departments nine months after prior changes in leadership. The restructuring aims to enhance oversight in banking supervision, payment systems, and consumer protection, with important positions filled by qualified individuals. This initiative reflects the bank’s commitment to improving regulatory efficiency within Nigeria’s financial sector.
The Central Bank of Nigeria (CBN) has appointed 16 new directors across various departments, nine months after the previous directors were relieved of their positions. This restructuring, announced in an internal advertisement in September 2024, aims to enhance efficiency in critical areas such as banking supervision, payment systems, and consumer protection.
Among the notable appointments is Dr. Olubukola Akinwunmi Akinniyi, who has been named director of banking supervision, a key role within the organization. Additionally, Dr. Yusuf Rakiya Opeyemi will lead the newly created Payment System Supervision department, which emerged from the division of the Payments System Management Department into two separate entities for better regulatory practices.
The restructuring follows the reinstatement of Jimoh Musa Itopa as director of the Payments System Management Department, resulting in the departure of Oladimeji Taiwo Yisa, the former Acting Director. In a significant move towards consumer protection, Dr. Aisha Isa-Olatinwo has been appointed to lead that department.
Other key appointments include Sike Rita Ijeoma as head of Financial Policy and Regulation, Dr. Obom Victor Ugbem in Monetary Policy, and Farouk Mujtaba Muhammad in Reserve Management among others. The supervision of various banking institutions now falls under new leadership across several departments within the CBN.
The Central Bank of Nigeria has undertaken a significant restructuring, appointing 16 new directors to enhance regulatory efficiency across its operations. With an emphasis on areas such as banking supervision and consumer protection, the CBN is poised to strengthen Nigeria’s financial sector. The new leadership structure aims to address previous bottlenecks and improve oversight, indicating a strategic move towards robust financial governance.
Original Source: dailytrust.com
