New DG of SEC: 15 Things to Know about Dr Lamido Yuguda

President Muhammadu Buhari on Tuesday, May 19, 2020 appointed Mr Lamido Yuguda as the new substantive Director General of Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC).

DG-SEC-Lamido-Yuguda

Here are 15 things to know about Dr Lamido Yuguda, the newly appointed Director-General of Securities and Exchange Commission (SEC):

1. He obtained a B.Sc in Accounting in 1983 from Ahmadu Bello University, Zaria, and an M.Sc in Money, Banking, and Finance in 1991 from the University of Birmingham, United Kingdom. He also holds a Certificate in Financial Asset Management and Engineering from the Swiss Finance Institute, Geneva, Switzerland.

2. He has attended leadership training at notable business schools like Harvard, INSEAD, IMD, Saïd, Wharton, Haas, and London.

3. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), a CFA charter holder, and also holds a Certificate in Financial Asset Management and Engineering from the Swiss Finance Institute, Geneva, Switzerland.

4. Yuguda is an economist, banker and investment manager, with over 30 years’ experience in financial services.

5. He began his career with Central Bank of Nigeria, CBN, back in 1984, as Senior Supervisor, Foreign Operations Department in 1984, just shortly after he graduated from the Ahmadu Bello University, Zaria. His core responsibility then was to manage and maintain Nigeria’s external debt records.

6. In 1985, he moved to the Banking Supervision Department and had the task of handling bank licensing and prudential regulations.

7. In 1988, another in-house reshuffling exercise took him to the Debt Conversion Committee Secretariat to manage the Nigerian Debt Conversion Programme together with the pioneer staff in the secretariat.

8. Yuguda in 1992 moved back to the Foreign Operations Department, and soon after became the Senior Manager of the Investment Office. Again, his responsibilities included managing Nigeria’s external debt service, as well as managing the investment of the CBN’s external reserves in a liquid portfolio of cash, fixed-term deposits, and foreign government treasury bills.

9. Following a secondment in 1997, he joined the International Monetary Fund (IMF) in Washington DC, the USA, as an economist in the Africa Department. In this position, Yuguda assessed the economic policies and management of balance of payment support programmes in IMF member countries.

10. In 2001, he returned to the CBN to lead a team of staff to restructure and diversify the CBN’s growing FOREX reserve portfolio. Together with this team, a new investment policy was adopted with the introduction of new asset classes, the appointment of a reputable global custodian and asset managers.

11. Yuguda successfully upgraded the CBN’s in-house fixed-income trading and settlement capabilities and left a state-of-the-art portfolio management system as his legacy.

12. In 2010, he became Director of the Reserve Management Department during which he was credited with the strong risk-aware investment culture in the department, and also instilled a disciplined approach to investment evaluation.

13. After 32 years at CBN, he voluntarily retired in 2016.

14. He has been a member of the Board of the Securities and Exchange Commission (SEC), and will by his new appointment resume as its Director-General.

15. Mr. Yuguda brings to the Securities and Exchange Commission (SEC) more than three decades of experience as a central banker, economist, and investment manager.




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Updated: May 21, 2020 — 1:58 am

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