The Central Bank of Nigeria (CBN) has appointed 16 new directors across key departments, nine months after it relieved the previous directors from the services of the bank as well as those who retired over a year ago.
The CBN in an internal advertisement published in September 2024 sought to fill strategic departments that were headed by Coordinators.
The new appointees will oversee banking supervision, payment systems, and consumer protection, areas critical to Nigeria’s financial sector, especially as regulators tighten scrutiny on banks and fintechs.
The restructuring comes one month after the reinstatement of Jimoh Musa Itopa as director of the Payments System Management Department (PSMD).
Olubukola Akinwunmi Akinniyi has been named director of banking supervision, one of the most powerful roles at the CBN.
The Payment System Supervision department will be led by Yusuf Rakiya Opeyemi.
This newly created directorate was part of a broader restructuring that split the Payments System Management Department (PSMD) into two separate units: one focused on policy and the other on supervision.
