Under the new structure announced on Monday, Philip Ikeazor has been appointed to oversee the Economic Policy Directorate, taking over the critical monetary policy portfolio from Muhammad Abdullahi.
Abdullahi, who previously supervised economic policy and played a key role in the bank’s monetary policy framework, has been redeployed to head the Corporate Services Directorate.
The reorganisation also saw Emem Nnana Usoro move from Corporate Services to oversee the Operations Directorate, while Lamido Yuguda was transferred from Operations to the Financial System Stability Directorate.
The Central Bank did not provide specific reasons for the changes but described the redeployment as part of efforts to optimise the experience and expertise of its senior leadership team.
According to the apex bank, the reassignment is intended to strengthen institutional effectiveness and support the execution of its strategic objectives amid a rapidly evolving financial and economic environment.
“The changes are designed to make use of the experience of senior officials in different areas of responsibility and to support evolving institutional priorities,” the CBN stated.
The appointment of Ikeazor to the Economic Policy Directorate places him at the centre of monetary policy formulation and implementation at a time when the apex bank is pursuing reforms aimed at sustaining price stability, strengthening investor confidence, and supporting macroeconomic stability.
The leadership reshuffle comes shortly after the Monetary Policy Committee retained key policy parameters, signalling the bank’s continued commitment to tackling inflation while preserving gains in exchange rate stability.
Analysts say the redeployment reflects the CBN’s efforts to deepen institutional capacity and ensure greater coordination across its policy, operational, and regulatory functions as it navigates Nigeria’s complex economic landscape.
