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About CBN

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Retired CBN Board Members

Dr. Shamsuddeen Usman  
Retired as Deputy Governor, Operations - Served in the CBN from 6/4/1999 To 7/1/2007








Dr. Shamsuddeen Usman was born on 18th September, 1949 in Kano State, Nigeria. 

He attended Government College, Keffi from 1963 to 1966, where he got his WASC with Division I.  He obtained his Higher School Certificate (Cambridge) from King's College, Lagos in 1969 and proceeded to Ahmadu Bello University, Zaria where he obtained his Bachelor of Science Degree  2nd Class upper Division in Economics 

Dr. Usman was at the London School of Economics and Political Science, University of London where he obtained M.Sc. Economics in 1977 and Ph.D in Economics in 1980.

Dr. Usman has worked in various institutions in the public and private sectors of the Nigerian Economy.  His work experience ranged from a Planning Officer (1974 - 1976) at the Kano State Ministry of Economic Planning, Lecturer at Ahmadu Bello University, Zaria from 1976 - 1981. Controller at the Nigerian Industrial Development Bank from 1981 to 1985, General Manager NAL Merchant Bank 1985 - 1988 and Director-General of the Technical Committee  on Privatisation and Commercialisation from January, 1989 to December, 1991.  

Dr. Usman was Executive Director, International and Investments Sector, United Bank for Africa between 1992 and 1993 and Executive Director, Corporate and International Banking, Union Bank of Nigeria Plc. from April 1993 to October, 1994.  In October 1994, Dr.Usman was appointed  Managing Director/Chief Executive, NAL Merchant Bank Plc, from where he was appointed  a Deputy Governor in charge of Domestic Monetary and Banking Policy in the Central Bank of Nigeria in June, 1999.

Dr. Usman is a Chairman and Board Member of a number of institutions.  He is currently the Chairman of the Nigerian Export - Import Bank, Chairman of the Steering Committee of the Abuja Commodities Exchange (ACE) and a Board member of the African Export-Import Bank (AFRIEXIM) based in Cairo, Egypt, among others


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 board

Central Bank of Nigeria:: Serving Board Members
Board Members

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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