The Central Bank of Nigeria has appointed 16 new directors to strengthen leadership in critical departments, such as banking supervision and consumer protection, following a major restructuring. The changes aim to enhance regulatory effectiveness amid increasing scrutiny in the financial sector, with notable appointments including Dr. Akinniyi and Dr. Opeyemi.
The Central Bank of Nigeria (CBN) has appointed 16 new directors, initiating a significant restructuring within the institution after relieving the previous directors nine months ago. This strategic move seeks to enhance leadership across vital departments such as banking supervision, payment systems, and consumer protection, which are essential to the country’s financial sector’s efficacy amid increasing regulatory scrutiny.
The internal advertisement issued by the CBN in September 2024 aimed to fill crucial positions that had been previously overseen by Coordinators. Notable appointments include Dr. Olubukola Akinwunmi Akinniyi as the director of banking supervision and Dr. Yusuf Rakiya Opeyemi to lead the newly established Payment System Supervision department. This division emerged from the restructuring that divided the Payments System Management Department into separate units for policy and supervisory duties, addressing concerns over regulatory bottlenecks.
Moreover, Dr. Aisha Isa-Olatinwo has been appointed director of the consumer protection department, emphasizing a stronger approach to consumer grievances. Other significant appointments include Sike Rita Ijeoma as head of Financial Policy and Regulation, and Dr. Obom Victor Ugbem overseeing Monetary Policy. The restructuring further includes supervisors for various financial institutions, with Mr. Solaja Mohammed-Jamiu Olayemi managing microfinance banks, and Mr. Nakorji Musa responsible for Trade and Exchange.
Additional key positions have been filled with Mrs. Jide-Samuel Omoyemen Avbasowamen leading the Information Technology Department, and Dr. Ojumu Adenike Olubunmi overseeing Medical Services. Furthermore, Mal Abdullahi Hamisu will head Banking Services, while Dr. Adedeji Adetona Sikiru leads Currency Operation and Branch Management.
In summary, the CBN’s recent appointment of 16 new directors marks a pivotal transition aimed at revitalizing its key departments. The restructuring intends to enhance regulatory oversight within Nigeria’s financial sector. With leaders allocated to crucial roles such as banking supervision, consumer protection, and financial policy, the CBN is poised to navigate the complexities of the evolving financial landscape effectively.
Original Source: dailytrust.com
