About CBN

Departmental Directors

Haruna Bala Mustafa
Director, Financial Policy and Regulation - Since 11/24/2023

Mr. Haruna Bala Mustafa is the Director, Financial Policy and Regulation Department, Central Bank of Nigeria, a position he assumed in November, 2023

Prior to his current role, he served as the Director, Consumer Protection Department of the Bank, and later, the Banking Supervision Department.

Mr. Mustafa had worked in several departments of the Bank garnering extensive experience in bank supervision, regulatory policy development, risk management, non-interest banking, financial inclusion, cybersecurity and anti-money laundering, amongst others.

He served in several technical committees and initiatives within and outside the CBN in furtherance of the Bank’s mandate of promoting a sound and stable financial system in Nigeria. He provided critical support in the implementation of far-reaching reforms to enhance the quality and stability of banks and the management of systemic risk to Nigeria’s banking system between 2011 and 2014.

He is a member of the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN) and some of its sub-committees. He also sits on the Boards of Nigeria Deposit Insurance Corporation (NDIC), Asset Management Corporation of Nigeria (AMCON). Financial Institutions Training Centre (FITC) and FMDQ Clear Ltd, Nigeria’s Central Counterparty.

Furthermore, Mr. Mustafa is a member of the Community of African Banking Supervisors (CABS) under the aegis of the Association of African Central Banks (AACB) and chairs its Working Group on Crisis Management & Resolution and FINTECH Regulation & Supervision. He is also a member of the College of Supervisors of the West African Monetary Zone (CSWAMZ) under the auspices of the West African Monetary Institute (WAMI).

Mr. Mustafa has attended several courses, conferences, workshops and seminars within and outside Nigeria. He has also represented the CBN and delivered several papers or made presentations at various conferences and workshops within and outside Nigeria.

Mr. Mustafa has received several recognitions and commendations for his contribution to the CBN and the Nigerian banking system. He is an accounting graduate of the Ahmadu Bello University, Zaria and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Bankers of Nigeria (CIBN).

He is happily married with children.

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