Full List: CBN Makes Important Leadership Changes, Appoints 16 New Directors

• The Central Bank of Nigeria has made new changes to its leadership position, bringing in 16 new directors
• The new appointees have been given their portfolios as the apex bank looks to improve oversight and operational efficiency
• The directors are now tasked to help President Bola Tinubu achieve his ambition of building a $1 trillion economy

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Central Bank of Nigeria (CBN) appointed 16 new directors across key departments in a major leadership shakeup on March 3, 2025.

The new changes affected important departments such as Monetary Policy, Trade and Exchange, Banking Supervision, Payment Systems, and Consumer Protection, among others

The development comes as the apex bank tightens oversight on banks and financial technology firms while advancing the final phase of the banking sector recapitalisation plan.

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The Nation quoted a source as saying:

“The very best were selected as such, no one will complain about the process because they all were appointed from within the system."

Names of new CBN appointees and their roles

Among those appointed is Dr. Olubukola Akinwunmi Akinniyi, who will be the Director of Banking Supervision.

Akinniyi's role is key as financial institutions work towards helping President Bola Tinubu achieve his dream of a $1 trillion economy, which was clearly stated in his Renewed Hope manifesto for the 2023 elections.

Also, the CBN restructured its payment systems oversight, splitting the Payments System Management Department into two units: policy and supervision.

Yusuf Rakiya Opeyemi has been named Director of the newly created Payment System Supervision Department and will be tasked to tackle rising fraud and enhance regulatory oversight.

The source said:

“The latest appointments reinforce the CBN’s focus on compliance, consumer protection, and financial sector stability, particularly amid growing fraud risks and regulatory actions."

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Aisha Isa-Olatinwo was appointed Director of Consumer Protection, a department previously criticised over unresolved disputes between banks and customers, Punch reports.

She is expected to use her audit background to adopt a stricter approach toward financial institutions failing to address customer complaints.

Other appointments and portfolios are as follows:

• Abdullahi Hamisu – Banking Services
• Dr. OJumu Adenike Olubunmi – Medical Services
• Mr. Makinde Kayode Olanrewaju – Procurement & Support Services
• Mrs. Jide-Samuel Omoyemen Avbasowamen – Information Technology
• Mrs. Sike Rita Ijeoma – Financial Policy and Regulation
• Dr Victor Ugbem Oboh – Monetary Policy
• Mr. Nakorji Musa – Trade and Exchange
• Dr. Vincent Monsurat Modesola – Strategy Management and Innovation
• Mr. Farouk Mujtaba Muhammad – Reserve Management
• Dr. Adetona Sikiru Adedeji – Currency Operations and Branch Management
• Mr. Hassan Ibrahim Umar – Development and Finance Institutions Supervision
• Mr. Solaja Mohammed-Jamiu Olayemi – Other Financial Institutions Supervision
• Dr. Okpanachi Usman Mose – Statistics

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Union, Keystone, Polaris get new executive

Earlier, Legit.ng reported that the CBN appointed new executive directors to oversee the affairs of Polaris Bank, Union Bank, and Keystone Banks.

This comes after the apex bank fired the entire board of directors of Polaris, Titan, Union, and Keystone Banks.

The apex bank said that the banks failed to follow corporate governance guidelines, violating the terms of their licenses, and engaging in operations that may have jeopardised the financial system's stability.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng