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Lemo retires as CBN deputy governor

By on January 8, 2014

The Central Bank of Nigeria (CBN) has announced the retirement of Mr Babtunde Lemo, the Deputy Governor, Operations Directorate.

In a statement in Abuja on Wednesday, the Apex bank said that Lemo was retiring from service on Friday after serving two terms of five years each.

The statement indicated that the retirement would officially take effect from Jan.11 but Lemo would be pulled out of service on Friday, the last working day before the retirement date.

The unsigned statement said that before his appointment as a deputy governor of the apex bank in 2003, Lemo was the Managing Director and Chief Executive Officer of Wema Bank Nigeria PLC.

It said that Lemo attended Lisabi Grammar School, Lisabi, Ogun, and the University of Nigeria, Nsukka, where he graduated with a first-class, Bachelor of Science degree in accountancy.

The bank said that as deputy governor, Lemo played a key role in the implementation of the banking sector consolidation which culminated to the emergence of “24 stronger and well capitalised banks”.

According to the statement, he also championed the implementation of the micro finance policy and supervisory framework.

“Lemo was equally responsible for the transformation of the national payments system for widespread use of electronic payments and the transformation of the Nigerian Inter-Bank and Settlement System PLC,’’ it said. (NAN)