The Central Bank of Nigeria (CBN) has appointed 16 new directors to head key departments.
The directors’ appointments took effect on March 3.
The newly appointed directors are Jide-Samuel Avbasowamen, director of the information technology department; Abdullahi Hamisu, director of the banking services department; Ojumu Adenike, director of the medical services department; and Makinde Olanrewaju, head of the procurement and support services department.
In the financial department, CBN appointed Sike Ijeoma as director of the financial policy and regulation department; Isa-Olatinwo Aisha, director of consumer protection department; and Oboh Victor Ugbem, director of monetary policy department.
Also, Nakorji Musa will head the trade and exchange department; Yusuf Rakiya will lead the payments system supervision department; Vincent Modesola was appointed to oversee the strategy management and innovation department; Farouk Muhammad is to lead the reserve management department; and Akinwunmi Olubukola Akinniyi takes charge of the banking supervision department.
In addition, Solaja Mohammed-Jamiu will be in charge of the other financial institutions’ supervision department (OFISD); Hassan Umar will lead the development and finance institutions supervision department; and Adedeji Adetona will steer the currency operations and branch management department.
CBN appointed Okpanachi Moses to head the statistics department.
Here’re profile of the newly appointed departmental directors of CBN
Aisha Isa-Olatinwo
Aisha Isa-Olatinwo is one of the 16 new directors appointed by the CBN to serve as the director of the Consumer Protection Department effective March 3, 2025.
Prior to her appointment, she served as the acting director of Branch Operations at the CBN, where she stressed the bank’s commitment to intensifying oversight of Deposit Money Banks (DMB) operations to ensure compliance with regulatory standards.
Isa-Olatinwo has also been an active participant in industry discussions, highlighting the CBN’s dedication to national interests and regulatory compliance.
Her appointment reflects the CBN’s commitment to strengthening its operations across various regulatory, supervisory, and policy-driven functions.
Mallam Abdullahi Hamisu
Mallam Abdullahi Hamisu has just been appointed as the director of Banking Services at the Central Bank, a position that defines his pivotal role in ensuring seamless banking operations across the nation. Before his appointment, he served as coordinator, banking services under the Operations Directorate.
Ojumu Adenike Olubunmi
Ojumu Adenike Olubunmi, now the CBN’s director, Medical Services Department, was until her appointment, a Medical Doctor at the CBN. An accomplished and dedicated Medical Doctor with over 26 years of invaluable experience, specialising in family medicine and public health. As an empathetic and passionate healthcare professional, she has consistently demonstrated a commitment to the betterment of patient care and public health initiatives.
Her academic background includes a Master of Science (M.Sc.) and a Diploma in Public Health from The London School of Hygiene & Tropical Medicine, University of London, as well as a Diploma in Family Medicine from the National Post Graduate College of Nigeria.
Sike Rita Ijeoma
Sike Rita Ijeoma, who is now the director of the Financial Policy and Regulation Department, was formerly the director of Banking Supervision. Ijeoma’s expertise and leadership are expected to contribute significantly to the CBN’s mission of maintaining a stable and efficient financial system in Nigeria.
Oboh Victor Ugbem
Oboh Victor Ugbem, a policy economist has been appointed the director, Monetary Policy Department. Victor is a senior development economist with more than 20 years experience, operating in the areas of monetary, financial and agricultural policies as well as private sector development.
Currently an assistant director in the Central Bank of Nigeria, providing technical support to the design and implementation of the Bank’s policies.
Nakorji Musa, director, Trade and Exchange Department, prior to his appointment, Musa was a deputy director at the Central Bank of Nigeria. Musa Nakorji brings experience from previous roles at the CBN. Musa Nakorji holds a 2004 – 2006 Master of Business Administration (M.B.A.) in Business, Management, Marketing, and Related Support Services at Ahmadu Bello University, Zaria.
Musa’s extensive research background and expertise in economic analysis are expected to enhance the CBN’s efforts in managing trade and exchange policies effectively.
Yusuf Rakiya Opemi
Yusuf Rakiya Opemi, director, Payments System Supervision Department, was deputy director, overseeing banking operations until her new appointment. “I am a corporate governance expert and a proficient accountant that carved a niche in auditing, banking and fintech regulation. I enjoy teaching and mentoring people to bring out the best in them,” she said. Her leadership in the Payments System Supervision Department is expected to enhance the efficiency and security of Nigeria’s payment systems, aligning with the CBN’s commitment to a robust financial infrastructure.
Makinde Kayode Olarewaju
Makinde Kayode Olanrewaju is now the CBN director, Procurement & Support Services Department.
Vincent Monsurat Modesola
Vincent Monsurat Modesola, has been appointed director, Strategy Management and Innovation Department. Prior to her appointment, she served in the Banking Supervision, Regulatory Compliance, Audit and Finance department. She is a seasoned chartered Banker and Accountant of over 20 years work experience cutting across Banking industry and Telecoms.
Farouk Mujtaba Muhammad
Farouk Mujtaba Muhammad, director, Reserve Management Department at CBN, effective March 3, 2025. Prior to this appointment, Muhammad served as the Coordinator of the Reserve Management Department at the CBN. His extensive experience in financial management and previous roles within the CBN are expected to contribute significantly to the effective management of Nigeria’s foreign reserves.
Akinwunmi Olubukola Akinniyi
Akinwunmi Olubukola Akinniyi, will be serving as the director, Banking Supervision Department, in the new leadership arrangement. Prior to his appointment, he was an assistant director in the Payments System Management Department of the CBN.
He led the team responsible for formulation of payments system policies and facilitating stakeholder consensus on payments system development strategy in Nigeria. He participated in major reforms in the Nigerian Payments System including the implementation of the Nigeria Central Switch, Cash-less Policy, and the Payments System Vision 2020.
Adedeji Adetona Sikiru
Adedeji Adetona Sikiru, will lead the Currency Operations and Branch Management Department as a director. Prior to his new role, he was the acting director of the Banking Supervision Department at the Central Bank of Nigeria.
Hassan Ibrahim Umar
Hassan Ibrahim Umar, new director of Development and Finance Institutions Supervision Department. Umar, was the former Coordinator, working in the Department of Banking Supervision and Other Financial Institutions.
Solaja Mohammed-Jamiu Olayemi
Solaja Mohammed-Jamiu Olayemi, new director, Other Financial Institutions Supervision Department. Prior to his appointment, he was Coordinator, Currency Operations.
Okpanachi Usman Moses
Okpanachi Usman Moses, is now the director of Statistics Department.
