By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has appointed 16 new directors across key departments in the apex bank as it moves to consolidate its modern operations.

These appointments, which took effect from March 3, affect crucial departments in the apex bank, including Monetary Policy, Trade and Exchange, Banking Supervision, Payment Systems, and Consumer Protection, among others.

These changes are coming as Nigeria continues to targets a $1 trillion economy spurred by constant evolution in the global financial space.

Speaking some months ago, the Governor of the CBN, Mr Yemi Cardoso, said the apex bank has been given a core mandate towards playing a crucial role in reaching the goal.

Already, banking institutions are raising capital ahead of March 2026 deadline to prevent against failures and shocks.

Also, digital payments have caught on in the last five years with fintechs rivalling traditional banks for talent and service offerings.

The appointments will help position the lender— and the country— towards proper regulations and will help institute the necessary regulations in one of the country’s most important sector.

This is the list of the newly appointed directors at the Central Bank of Nigeria (CBN):

1. Dr. Olubukola Akinwunmi Akinniyi – Director, Banking Supervision.

2. Yusuf Rakiya Opeyemi – Director, Payment System Supervision.

3. Aisha Isa-Olatinwo – Director, Consumer Protection.

4. Abdullahi Hamisu – Director, Banking Services.

5. Dr. OJumu Adenike Olubunmi – Director, Medical Services.

6. Mr. Makinde Kayode Olanrewaju – Director, Procurement & Support Services.

7. Mrs. Jide-Samuel Omoyemen Avbasowamen – Director, Information Technology.

8. Mrs. Sike Rita Ijeoma – Director, Financial Policy and Regulation.

9. Dr. Victor Ugbem Oboh – Director, Monetary Policy.

10. Mr. Nakorji Musa – Director, Trade and Exchange.

11. Dr. Vincent Monsurat Modesola – Director, Strategy Management and Innovation.

12. Mr. Farouk Mujtaba Muhammad – Director, Reserve Management.

13. Dr. Adetona Sikiru Adedeji – Director, Currency Operations and Branch Management.

14. Mr. Hassan Ibrahim Umar – Director, Development and Finance Institutions Supervision.

15. Mr. Solaja Mohammed-Jamiu Olayemi – Director, Other Financial Institutions Supervision.

16. Dr. Okpanachi Usman Mose – Director, Statistics.

By Dipo Olowookere

Mr Shamsedeen Babatunde Ogunjimi has been appointed as the substantive Accountant General of the Federation, replacing Mrs Oluwatoyin Madehin.

Mr Ogunjimi was picked to fill the position by President Bola Tinubu, a statement by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, disclosed on Tuesday.

The appointment, according to him, will take effect from Friday, March 7, 2025, the same day Mrs Madehin will retire from the civil service.

It was disclosed that the appointment of a new accountant general for the country followed “a rigorous selection process.”

Mr Onanuga said in the statement that the 57-year-old appointee, who was first named as Mrs Madehin’s successor last December, was chosen by a selection committee after a competitive, rigorous, and merit-based process involving Directors of Accounts in the Federal Civil Service.

The panel conducted the process through three stages: a written assessment, an ICT proficiency test, and oral interviews, underscoring Mr Tinubu’s commitment to promoting transparency, excellence, and competence in key public service positions.

Mr Ogunjimi graduated from the University of Nigeria, Nsukka, in 1990 with a Bachelor of Science in Accountancy. He also obtained a Master’s in Accounting and Finance from the University of Lagos.

He is a fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Taxation of Nigeria.

President Tinubu, who congratulated Mr Ogunjimi on his appointment, urged him to discharge his duties in the service of Nigeria with integrity, professionalism, and dedication to Nigeria’s service.

By Adedapo Adesanya

Tether, the pioneer of the stablecoin industry and issuer of USD₮, has announced the appointment of Mr Simon McWilliams as Chief Financial Officer (CFO) as the company takes a historic step toward a full financial audit.

The latest move will also see Mr Giancarlo Devasini, the visionary behind USD₮, transition from CFO to Chairman of the Group.

Mr McWilliams, a seasoned finance executive with over 20 years of experience leading large investment management firms through rigorous audits, will spearhead Tether’s further commitment to transparency and regulatory readiness.

With the appointment of Mr McWilliams, Tether is making a firm commitment to completing a full audit, a crucial step in raising industry standards and strengthening regulatory engagement.

Tether has already set the benchmark for stablecoin transparency through quarterly attestations with BDO, the top five leading global independent accounting firm, a full audit will ensure greater financial integrity and verification of reserves.

The audit is a crucial step in Tether’s broader strategy to expand across the institutional financial system. Over the past several months, Tether has been preparing for these moves, underscoring its commitment to transparency and regulatory engagement.

As part of its global expansion, the company recently relocated to El Salvador after securing a Digital Asset Service Provider (DASP) license.

“These developments reinforce Tether’s operational foundation and position it for future growth. As policymakers and institutions assess the evolving role of stablecoins, Tether is positioning itself as a trusted partner in strengthening the global reach of the U.S. dollar,” it said it a statement shared with Business Post on Monday.

Speaking on the latest move, Mr Paolo Ardoino, CEO of Tether, said, “Simon’s expertise in financial audits makes him the perfect CFO to lead Tether into this new era of transparency.

“With his leadership, we are moving decisively toward a full audit, reinforcing our role in supporting U.S. financial strength and expanding institutional engagement.”

For Mr Devasini, in his new role, he will focus on macroeconomic strategy, guiding Tether as it continues to support the US financial system while advancing digital asset adoption globally.

“We are profoundly grateful for Giancarlo’s unwavering dedication, groundbreaking innovation, and inspiring leadership,” said Mr Ardoino. “His visionary approach has been pivotal in shaping Tether into the industry leader it is today. As he steps into his new role as Chairman, we are confident that his strategic insight will continue to drive the company’s long-term vision and success.”

Tether, founded in 2014, is the company that created stablecoin technology, which now powers a $220 billion industry and is of strategic interest to several institutions and governments, including the US.

Tether is now the 18th largest holder of US government debt, with over $113 billion in US Treasury holdings, it has surpassed major economies such as Germany and the United Arab Emirates (UAE).