President Muhammadu Buhari, on Tuesday, brought an end to the 2-year long controversy surrounding the office of the Director-General of the Securities and Exchange Commission (SEC).
He did this when he sent a letter to the Senate requesting the house to ratify the appointment of Dr Lamido Yuguda as Commission’s new DG.
Here are 10 things you should know about him.
1 Yuguda is an economist, banker and investment manager, with over 30 years’ experience in financial services. Let us take a closer look at Yuguda’s pedigree.
2 He began his career with Central Bank of Nigeria back in 1984, just shortly after he graduated from the Ahmadu Bello University, Zaria. He was employed as a Senior Supervisor of the Foreign operations department, which manages Nigeria’s external debt records.
3 In 1985, he moved to the Banking Supervision Department and had the task of handling bank licensing and prudential regulations.
5 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.
6 By 2010, he became Director of the Reserve Management Department. He is credited with the strong risk-aware investment culture in the department, and also instilled a disciplined approach to investment evaluation.
7 After 32 years at the apex bank, he voluntarily retired in 2016. He has been a member of the Board of the Securities and Exchange Commission, and will now resume as its DG.
8 Yuguda has a Bachelor of Science in Accounting from Ahmadu Bello University, Zaria, having graduated in 1983. He later obtained a Master’s degree in Money, Banking, and Finance from the University of Birmingham, UK, in 1991.
9 He has attended leadership training at notable business schools like Harvard, INSEAD, IMD, Saïd, Wharton, Haas, and London.
10 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.
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