The Central Bank of Nigeria (CBN) has appointed 16 new directors, a major leadership shift that will influence banking supervision, monetary policy, fintech regulation, and consumer protection. While regulatory decisions are often attributed to “the CBN,” the individuals behind those decisions remain largely unknown to the public. Now, their names and roles are clear.
Akinwunmi Olubukola Akinniyi will lead Banking Supervision, a department responsible for ensuring banks comply with regulations. Sike Rita Ijeoma will head Financial Policy and Regulation, shaping the rules that guide Nigeria’s financial system. Isa-Olatinwo Aisha will direct Consumer Protection, a crucial role in holding banks accountable for how they treat customers.
With fintechs facing increased regulatory scrutiny, the Payments System Supervision Department has been split from Payments System Management to improve oversight. Yusuf Rakiya Opeyemi now leads the supervision unit, which will enforce compliance across the sector.
Other key appointments include Obom Victor Ugbem in Monetary Policy, Farouk Mujtaba Muhammad in Reserve Management, and Vincent Monsurat Modesola in Strategic Management and Innovation. The supervision of microfinance banks, mortgage banks, and finance companies now falls under Solaja Mohammed-Jamiu Olayemi, while Nakorji Musa will oversee Trade and Exchange.
This reshuffle cements the individuals who will shape Nigeria’s financial landscape, from banking regulations to digital payments. For years, their decisions will define how businesses operate and how consumers experience the financial system.
