Dr Tunde Lemo, former Deputy Governor of the Central Bank of Nigeria (CBN) and past Managing Director of Wema Bank Plc, has said his appointment as Managing Director at the age of 41 was a defining moment that shaped his leadership approach and set the trajectory for his career in banking and financial regulation.
He made the remarks in an interview published on January 11, 2026, reflecting on key milestones that influenced his view on leadership and economic management.
Lemo, who also serves in leadership roles at international financial organisations including ARM Holding Co and Lambeth Capital, recalled that his tenure at Wema Bank marked a turning point for the institution and his development as a leader.
At the time of his appointment, the bank was recording modest profits. Within his first year, profitability increased substantially, and within three years the bank’s annual profits rose significantly, capturing industry attention and solidifying his reputation in the sector.
Following his tenure at Wema Bank, Lemo was appointed Deputy Governor of the CBN, where he contributed to critical sector reforms, particularly during the banking sector consolidation process.
He oversaw efforts that reduced the number of banks while strengthening capitalisation, a move he said was essential to deepen financial sector stability and resilience.
Lemo highlighted how those experiences further informed his leadership philosophy, emphasizing strategic clarity, resilience, and operational discipline.
Lemo also discussed broader developments in Nigeria’s financial system, noting that improvements in infrastructure such as payment systems have transformed banking efficiency.
He recalled times when cheque clearing could take weeks across states, contrasted with today’s rapid interbank settlement systems, which he says reflect the impact of reform efforts undertaken during his time at the apex bank.
On the challenges facing the banking sector today, Lemo pointed to the ongoing focus on financial stability, risk management and recapitalisation, areas where regulatory frameworks and sector stakeholders are working to create a more robust system.
He also underscored the importance of directing credit toward infrastructure sectors such as power, transport and logistics to support long‑term growth and competitiveness.
Addressing youth unemployment, Lemo advocated for expanded technology hubs and strengthened technical and vocational education, arguing that equipping young Nigerians with relevant skills will enhance their employability and participation in both local and global markets.
He emphasised that success in addressing unemployment requires both structural reforms and supportive policy frameworks.
Lemo’s reflections place leadership development, strategic vision and sustained institutional reforms at the centre of Nigeria’s financial sector evolution.
His remarks, drawn from decades of experience across banking and financial regulation, highlight the interplay between individual leadership journeys and broader systemic growth within the economy.
