Lemo bows out as CBN Deputy Gov

Semiu Salami
Semiu Salami
Babatunde Lemo

Babatunde  Lemo, Deputy Governor in charge of Operations, Central Bank of Nigeria,  CBN,    Babatunde will retire from the apex bank effective Friday, January 10, after 10 years in the position.

Lemo was credited, among other things, for playing a key role in the implementation of the Banking Sector Consolidation under both administrations of Prof. Chukwuma Soludo and incumbent Sanusi.

The exercise resulted in the 24 stronger and well capaitalised banks with combined equity of over N1.6 trillion from 89 largely weak banks as well as the formulation and implementation of the Microfinance Policy and Supervisory Framework.

A statement by the CBN in Abuja, on Wednesday, indicated that Lemo’s retirement would take effect from January 11, 2014, being the last working day before his retirement date.

Prior to his appointment,  Lemo was the Managing Director/Chief Executive Officer of Wema Bank Nigeria, Plc between 2000 and 2003.

Born in 1959, Lemo attended Lisabi Grammar School, Ogun State and the University of Nigeria, Nsukka, where he emerged as the Best Overall graduating student in the Faculty of Social Sciences with a Bachelor of Science degree in Accountancy (First Class Division) in 1984.

Lemo is also reported to have 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.

He also championed 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, Lemo participated actively in the establishment of the Pan-African investment institution.

Lemo was equally responsible for the transformation of the National Payments System for widespread use of electronic payments and the transformation of the Nigeria Inter-Bank and Settlement Systems (NIBSS), Plc.


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