The Central Bank of Nigeria has appointed 16 new directors to key departments, nine months after dismissing previous directors. These appointments aim to enhance oversight of banking supervision, payment systems, and consumer protection, amidst rising regulatory demands. Notable appointments include Dr. Olubukola Akinwunmi Akinniyi for banking supervision and Dr. Aisha Isa-Olatinwo for consumer protection.
Nine months after the dismissal of previous directors, the Central Bank of Nigeria (CBN) has appointed 16 new directors to oversee vital departments. This internal reorganization, announced in September 2024, aims to reinforce key areas including banking supervision, payment systems, and consumer protection, amidst increasing regulatory scrutiny of financial institutions.
Dr. Olubukola Akinwunmi Akinniyi assumes the position of the director of banking supervision, a critical role within the CBN. Meanwhile, Dr. Yusuf Rakiya Opeyemi has been appointed to lead the newly established Payment System Supervision department. This division focuses on supervising payment processes, separating it from the policy-oriented side of the Payments System Management Department (PSMD), a change that was welcomed by industry stakeholders seeking improved regulatory efficiency.
Additionally, Dr. Aisha Isa-Olatinwo has been named the director of the consumer protection department, with expectations of adopting a more rigorous approach to consumer issues. Other appointments include Sike Rita Ijeoma as director of Financial Policy and Regulation, and Dr. Obom Victor Ugbem in Monetary Policy, among others overseeing various areas including Reserve Management and Information Technology.
The reappointment of Jimoh Musa Itopa as director of PSMD has also influenced the CBN’s restructuring, contributing to changes in the management team. As a result, Oladimeji Taiwo Yisa has left the Central Bank voluntarily. These leadership changes are designed to enhance the CBN’s operational capacity within Nigeria’s financial sector, aligning with its strategic objectives.
The recent appointments within the Central Bank of Nigeria reflect a significant restructuring aimed at fortifying leadership across essential departments. The new directors are expected to enhance regulatory practices, improve consumer protection, and streamline the management of payment systems. These changes, occurring after a turbulent period of transition, are essential to strengthening Nigeria’s financial sector amid growing scrutiny.
Original Source: dailytrust.com
