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Board of the CBN

Dr. Kingsley Obiora
Deputy Governor, Economic Policy Directorate - Since 3/2/2020

CBN Deputy Governor, Dr. Kingsley Obiora

Dr. Kingsley Obiora resumed as a Deputy Governor in the Central Bank of Nigeria on 02 March, 2020. Prior to this, he was an Alternate Executive Director in the International Monetary Fund (IMF) in Washington DC, USA. In this capacity, he was a member of the Executive Board, collectively responsible for conducting the daily operations of the IMF. He also assisted to represent the interests of 23 African Countries, including Nigeria, at the Board.

He first joined the IMF through the globally-competitive “Economist Program” in 2007 and worked in both the European Department as well as the Strategy, Policy and Review Department, whilst carrying out extensive work on exchange rate assessment, debt sustainability analyses, decoupling and spillovers, real sector analyses, as well as several reviews of Financial Sector Assessments. Prior to this, Dr. Obiora worked at the West African Monetary Institute in Accra, Ghana and the Centre for Econometric and Allied Research at the University of Ibadan.

While on secondment from the IMF, Dr. Obiora simultaneously served as Technical Adviser to the Nigeria’s National Economic Management Team as well as Special Assistant to the President Jonathan’s Chief Economic Adviser from October 2011 to May 2014. During this time, he played key roles in helping shape the country’s economic policies on several fronts, including on energy subsidies, power sector reform, measurement of job creation, architecture of development financing, diversification of the economy, oil price benchmarking in the budgetary process, regulatory framework for doing business, port reform, and asset-based economic mapping and modeling.

From June 2014 until July 2018, Dr. Obiora served as Special Adviser on Economic Matters to the Governor of the Central Bank of Nigeria (CBN). During this role, he contributed to the overall analytical and policy work of the CBN, bringing his extensive international and domestic economic experiences to bear in helping the Bank understand the ramifications of, and deal with spillovers from, the external shocks emanating from the significant drop in global oil prices. Dr. Obiora has a first degree from the University of Benin as well as Masters and Doctorate degrees in Economics from the University of Ibadan.


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Facts : 1/1/1900
BOFIA:In 1991, the Bank s and Other Financial Institutions Act (BOFIA) formerly BOFI was promulgated to replace the CBN Act of 1958 and the Banking Decree of 1969 (including later amendments). The policy brought the non-bank financial intermediaries under the supervision of Central Bank of Nigeria.
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