Sacked former deputy governor of the Central Bank of Nigeria (CBN), Bala Bello, has expressed gratitude to President Bola Tinubu following his appointment as Special Adviser to the President on Political Economy.
According to Bello, the new role will allow him to contribute more directly to the administration’s reform agenda.
It will also allow him to work closely with the presidency on economic and political policy coordination.
“I am grateful to President Tinubu for appointing me to the Central Bank of Nigeria and giving me the privilege to serve for the past 30 months.
“I am even more grateful that he has now found me worthy to serve as Special Adviser on Political Economy,” Bello reportedly said.
He believes the appointment places him in a strategic position to support the administration’s ongoing reforms, pledging loyalty and professionalism in carrying out the responsibilities of the office.
“It places me in a position to work even more closely with the President and to contribute more meaningfully to the ongoing bold political and economic reforms being undertaken by the administration.
“I assure the President that I will continue to serve with professional aplomb and loyalty,” Bello said.
Appointment announced alongside CBN replacement
President Tinubu announced Bello’s appointment on Wednesday, March 11, in an official statement issued while approving the nomination of Lamido Yuguda as CBN deputy governor to replace him.
READ ALSO:
- Exclusive: Why CBN Deputy Governor, Bala Bello, Was ‘Sacked’
- Tinubu Nominates Ex-DG SEC Lamido Yuguda as CBN Deputy Governor
- Things To Know About Nigeria’s 23rd Inspector-General of Police, Olatunji Disu
- Bad Roads, Flood Risks Expose Gaps in Edo Infrastructure Spending
The development brings the former central bank official into the presidency at a time when the government is pursuing major economic reforms, including fiscal adjustments and broader macroeconomic restructuring.
Controversial exit from the apex bank
Bello’s appointment follows his recent departure from the central bank amid allegations of misconduct and internal controversies.
Pinnacle Daily, in an exclusive report published on March 12, revealed how Bello and a CBN director were involved in a disputed property transaction involving the purchase of a residence for the CBN governor, which triggered an internal probe.
The inquiry was said to have established wrongdoing that led to the dismissal of the director and Bello’s removal from office.
His tenure at the central bank was also marked by internal disputes, including staff redeployments, mass layoffs, allegations of nepotism and conflicts with employees that reportedly generated widespread dissatisfaction within the institution.
His career background, political involvement
Before joining the central bank, Bello served as executive director of the Nigerian Export-Import Bank (NEXIM Bank) from April 2017 to September 2023.
In September 2023, President Tinubu appointed him deputy governor of the Central Bank of Nigeria.
Beyond his financial sector career, Bello also played a role in political mobilisation ahead of the 2023 general elections.
He was among the early advocates of the rotation of presidential power to southern Nigeria following the eight-year tenure of former president Muhammadu Buhari.
During the 2023 campaign season, he aligned with Tinubu’s political camp and worked within the Tinubu/Shettima Presidential Campaign Council.
He served in two key directorates: the Logistics and Support Services Directorate led by Ibrahim Masari, now Special Adviser to the President on Political Affairs, and the Stakeholder Engagement Directorate headed by Nuhu Ribadu, currently Nigeria’s National Security Adviser.
A newly filled advisory role
Bello’s appointment also appears to mark the first time the role of Special Adviser on Political Economy has been filled under the Tinubu administration.
The position is expected to focus on aligning economic policy with political priorities as the government continues reforms in fiscal policy, subsidy management and broader macroeconomic policy.
With his appointment, Bello joins the presidential advisory team as the administration seeks to advance its economic stabilisation and growth agenda.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
