Since independence, the position has evolved into a multi-portfolio structure with four serving deputies at a time. Below is the updated historical list of former CBN Deputy Governors in Nigeria (1960–2026) with verified service dates.
Former CBN Deputy Governors (1960–2026)
- Aliyu Mai-Bornu — Deputy Governor: 1962–1963 (later CBN Governor: 1963–1967)
- Clement Nyong Isong — Deputy Governor: 1958–1967 (later Governor: 1967–1975)
- Ola Vincent — Deputy Governor: 1973–1977 (later Governor: 1977–1982)
- Abdulkadir Ahmed — Deputy Governor: 1976–1982 (later Governor: 1982–1993)
- Paul A. Ogwuma — Deputy Governor: 1986–1993 (later Governor: 1993–1999)
- Joseph Oladele Sanusi — Deputy Governor: 1988–1999 (later Governor: 1999–2004)
- Chukwuma Charles Soludo — Deputy Governor: 2003–2004 (later Governor: 2004–2009)
- Tunde Lemo — Deputy Governor: 2004–2014
- Kingsley Moghalu — Deputy Governor: 2009–2014
- Sarah Alade — Deputy Governor: 2013–2018 (Acting Governor: 2014)
- Obadiah Mailafia — Deputy Governor: 2015–2018
- Edward Lametek Adamu — Deputy Governor: 2018–2023
- Aishah Ahmad — Deputy Governor: 2018–2024
- Folashodun Adebisi Shonubi — Deputy Governor: 2018–2023 (Acting Governor: 2023)
- Kingsley Obiora — Deputy Governor: 2018–2026 (resigned/ended tenure during 2026 restructuring cycle)
- Muhammad Sani Abdullahi — Deputy Governor: 2023–2026
- Philip Chukwuemeka Ikeazor — Deputy Governor: 2023–present (as of 2026; Economic Policy role from June 2026 restructuring)
- Emem Nnana Usoro — Deputy Governor: 2023–present (as of 2026; Operations Directorate from June 2026 restructuring)
- Lamido Abubakar Yuguda — Deputy Governor: 2023–present (as of 2026; Financial System Stability Directorate after June 2026 redeployment)
Current CBN Deputy Governors (As of 2026)
The Central Bank of Nigeria operates a four–Deputy Governor structure responsible for major policy and operational functions.
Current CBN Deputy Governors
- Emem Nnanna Usoro — Deputy Governor, Operations
- Muhammad Sani Abdullahi (Dattijo) — Deputy Governor, Corporate Services
- Philip Chukwuemeka Ikeazor — Deputy Governor, Economic Policy
- Lamido Abubakar Yuguda — Deputy Governor, Financial System Stability
Institutional Structure
The Deputy Governors oversee four core directorates:
- Economic Policy
- Corporate Services
- Operations
- Financial System Stability
Each office supports the Central Bank of Nigeria in delivering monetary policy direction, banking supervision, payment system oversight, and internal institutional management.
First Deputy Governor of the Central Bank of Nigeria
Aliyu Mai-Bornu became the first Nigerian to serve as Deputy Governor of the Central Bank of Nigeria. He later rose to the position of Governor of the Central Bank of Nigeria and led the institution at its highest level.
CBN Deputy Governors by Directorate
Operations Directorate
- Emem Nnanna Usoro
Financial System Stability Directorate
- Lamido Abubakar Yuguda
Economic Policy Directorate
- Philip Chukwuemeka Ikeazor
Corporate Services Directorate
- Muhammad Sani Abdullahi (Dattijo)
Role of CBN Deputy Governors
- Monetary policy support
- Banking regulation oversight
- Financial system stability
- Currency and reserve management
Frequently Asked Questions
How many deputy governors does the CBN have?
The Central Bank of Nigeria has four Deputy Governors, each responsible for a major policy and operational directorate.
Who is the current CBN deputy governor in Nigeria (2026)?
The CBN Deputy Governors in 2026 are Emem Nnanna Usoro, Muhammad Sani Abdullahi (Dattijo), Philip Chukwuemeka Ikeazor, and Lamido Abubakar Yuguda.
Who was the first deputy governor of the CBN?
Aliyu Mai-Bornu served as the first Nigerian Deputy Governor of the Central Bank of Nigeria before becoming the institution’s Governor.
Are CBN deputy governors part of monetary policy decisions?
Yes. CBN Deputy Governors take part in monetary policy formulation and implementation through their respective directorates.
Conclusion
This compiled list of former CBN Deputy Governors in Nigeria covers both historical and current Deputy Governors of the Central Bank of Nigeria, showing leadership changes across different periods.
