6 January 2014

Nigeria: Tunde Lemo Leaves CBN January 15

Deputy Governor of the Central Bank of Nigeria (CBN) in charge of operations, Mr Tunde Lemo, is scheduled to exit the apex bank from 15th of this month, LEADERSHIP reliably gathered.

Lemo, who became deputy governor on January 1, 2004, when he joined the apex bank, is the longest member of the current CBN Board.

CBN Director, Ugochukwu Okoroafor, however he could not confirm the report.

Prior to his appointment as deputy governor, Lemo led the transformation of Wema Bank Plc as MD/CEO between 2000 and 2003 resulting in the bank's outstanding performance which made it rank as one of the top ten most profitable commercial banks in Nigeria in 2003.

Lemo is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) as well as fellow of the Chartered Institute of Bankers (CIB), has served as deputy governor in charge of operations, which role he drove the industry-wide shared services initiative towards achieving efficient banking services with 30 per cent cost savings for the Nigerian banking industry and greater penetration of banking services.

He has equally provided strategic direction and supervises five departments of the Central Bank of Nigeria (CBN) including reserve management, banking and payments system, currency operations, branch operations and information technology departments. Prior to this, he was deputy governor, financial systems surveillance.

His contributions to public policy include the implementation of the banking sector consolidation, formulation and implementation of the microfinance policy and supervisory framework both under the supervision of the Governor.

He also led the restructuring of Abuja Security and Commodities Exchange and Nigeria Export Import Bank (NEXIM), as the chairman of both institutions. As vice chairman, technical committee for the establishment of Africa Finance Corporation (AFC), he participated actively in the establishment of the Pan-African investment institution where he still serves as a director.

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