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Board of the CBN

Mr. Tunde Lemo (OFR)
Deputy Governor,Operations Directorate - Since 1/1/2004

Tunde Lemo is a fellow of the Institute of Chartered Accountant of Nigeria as well as fellow of the Chartered Institute of Bankers with significant leadership and top management experience in both the public and private sectors spanning over 26 years. He holds a Bachelor of Science degree in Accountancy (first class division) from the University of Nigeria, Nsukka in 1984 where he won seven academic laurels, including the Best overall graduating student in the Faculty.
 

He attended Advanced Management Programme (AMP) at the Wharton College, University of Pennsylvania, Philadelphia, U.S.A in 2002 as well as executive training programmes in world class institutions including Harvard University, INSEAD, Fontainbleau, France, Brandies University, Boston etc.
 

Currently, he is serving as Deputy Governor in charge of Operations, Central Bank of Nigeria, in which role he is driving the industry-wide shared services initiative towards achieving efficient banking services with 30% cost savings for the Nigerian banking industry and greater penetration of banking services. He equally provides strategic direction and supervises five departments of the Central Bank of Nigeria 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. He is an experienced and versatile public officer and financial manager. 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..
 

Prior to his appointment as Deputy Governor, he had led the transformation of Wema Bank Plc as MD/CEO between 2000 and 2003 resulting in the bank’s superlative performance which made it rank as one of the top ten most profitable commercial banks in Nigeria in 2003.
 

His major strengths are his passion for excellence, ability to transform challenges into opportunities, integrity and exceptional people-management and problem solving skills. This is complemented with strong inter-personal and negotiation skills as well as sound analytical and financial management capabilities. He leverages his diverse exposure and works effectively with people of different background in the private and public sectors.
 

He is excited by the opportunities to formulate policies that will raise people’s standard of living and regularly render volunteered and community development services through Tunde Lemo Foundation.


See List of Retired Board Members
See List of Serving Board Members
See Past and Present Governors of the CBN
See Frequently Asked Questions about the CBN Board

Facts : 1/7/1959
Evolution of Departments:At inception, the organisational structure of the CBN was understandably simple consisting of two departments, namely, the General Manager's and the Secretary's Departments, with the appropriate division of labour as then percieved. The General Manager's Department was responsible for all the Department banking, currency issues, debt management and other operational functions of the bank while the Secretary's Department handled the administrative and staff matters, carried out some research into the economic and financial conditions, and collected and analysed relevant statistics for policy formulation.
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Board Members List
Retired CBN Board Members