CBN Deputy Governor Receives A’Ibom Varsity Honorary Doctorate Degree

The Deputy Governor, Corporate Services, of Central Bank of Nigeria (CBN), Ms Emem Usoro, were among eight eminent Nigerians who received honourary doctorate degree for their outstanding achievements and contributions from the Akwa Ibom State University last Saturday.

Also, over 2,000 students received undergraduate and postgraduate degrees in various disciplines. Usoro was accorded an honourary doctorate in Business Administration. It was the combined 9th, 10th, 11th and 12th convocation of the university. Other honorees spoke, but it was her speech on the performance of the CBN and the reforms it has implemented in the last three years that resonated with the audience and would be discussed in the financial services industry in the next few days. She said that the CBN is strengthening efforts to build a resilient economy capable of supporting the aspirations of Nigerians, noting that the Bank had developed systems and implemented policies aimed at positioning the economy to serve all segments of society.

The success of the recently concluded 24-month banking sector recapitalisation which raised N4.65 trillion in cash has been widely applauded. In all 33 banks successfully met the new minimum capital requirements. The exercise created a strong domestic confidence as 72 per cent of the capital was raised from in-country investors. The exercise has bolstered the sector’s capital base, improved liquidity and enhanced ability of banks to absorb shocks. The bank has also strengthened its risk-based supervision framework, including mandatory stress testing to sustain goal of a $1 trillion economy.

Usoro said key reforms initiated by the CBN included aligning the nation’s monetary policies with fiscal measures, and this had contributed to exchange rate and macroeconomic stability, boosted economic growth, and fostered an inclusive economy for sustainable development.

She said: “At the CBN, we are working hard to build a resilient economy that will support your dreams and integrate you into a global economy full of immense opportunities. We have developed systems and implemented policies that have pulled the country back from economic challenges and are positioning the economy to better serve all segments of society. In strong synergy with the federal government, we have aligned our monetary policies with its fiscal reforms. This has already delivered exchange rate and macroeconomic stability, boosted economic growth, and is fostering an inclusive economy for sustainable development.’’

The deputy governor also announced that the CBN would provide support to the university’s academic and research initiatives. She urged graduates to remain curious and committed to lifelong learning, encouraging them to ask questions and embrace new knowledge. Usoro emphasised that excellence is built on preparation, sacrifice and perseverance, and advised female graduates not to be discouraged by societal or cultural barriers in pursuing their ambitions.

“As an institution, we will support the university with a token for its academic and research work to enhance its impact in Nigeria,” she added.

Other recipients of honorary doctorate degrees include: Alhaji Aminu Ado Bayero (Doctor of Arts); Mr Uwem Stephen Okoko (Doctor of Engineering); Alhaji Dr Muhammadu Indimi (Doctor of Business Administration); Mrs Mina Tamuno Williams-Agbons (Doctor of Law); Mr Oliver Ebong (Doctor of Engineering); Mr Inyang Udo Tobby (Doctor of Humane Letters); and Mr Elvis Effiong Osung (Doctor of Engineering). The university said the honours were conferred in recognition of the recipients’ outstanding contributions to society, scholarship, public service and human development.

As Visitor to the university, Governor of Akwa Ibom State, Umo Eno, attended the convocation with a retinue of his cabinet members and several important dignitaries. He applauded the Vice Chancellor, Professor Otoabasi Akpan, for the great job he is doing, starting from when he was the Acting Vice Chancellor and now as the substantive chief executive.

Under his leadership, seven new faculties have been established alongside the approval of 60 new academic programmes by the Nigerian Universities Commission (NUC), one of which is the Department of Business Development and Entrepreneurial Studies, which the governor had urged the university to establish during the last convocation held on February 28 this year.

“I am so thrilled with the addition of this department that I am announcing here today my readiness to teach a course pro bono in that department. Entrepreneurship is an area that is dear to my heart; it is the single most critical ingredient that can unlock potential and set one on the path of growth and sustainability’’, the governor said. He described himself as a prime example of that mindset and approach, and I truly believe that the more our people are exposed to the fundamentals of entrepreneurship, the more growth, personal fulfillment, and wealth creation will take root and become a shared aspiration and internalised culture.

Eno was a successful entrepreneur in the hotel and catering business. It is an established practice, especially in the United States and Europe for successful entrepreneurs to join university faculty as adjunct professors based on their practical experience.

Ms Usoro was appointed Deputy Governor in 2023 along with three other deputy governors and Yemi Cardoso as Governor. Her responsibilities cover Human Resources, Corporate Communications, Security Services, Legal Services, Medical Services, Procurement and Support Services – functions that are indispensable to the Bank’s operational effectiveness and the successful execution of its policy objectives. Under her leadership, these key departments have been strengthened into cohesive pillars of resilience, excellence and institutional capability. Prior to her current role, she served as Deputy Governor in charge of the Operations Directorate where she provided oversight for Banking Services, Reserve Management, Information Technology, Currency Operations and Branch Operations departments in the Bank. In that role, she championed initiatives that strengthened financial inclusion, advanced digital banking and regulatory reform.

Gov. Eno commended the University for selecting such a distinguished group for the awards and particularly praised Usoro as ‘’a beloved daughter of Akwa Ibom State who has made significant contributions in the financial services industry, her community and church’’. Whilst serving as Deputy Governor, Operations, Usoro was also the Chairman of the Board of the Nigerian Security Printing & Minting Plc (NSPM), which is responsible for producing Nigerian’s banknotes and coins. NSPM is Africa’s foremost security printing company and the only full-fledged security printing organisation in the West African region. As Chairman of the Board, Usoro drove far-reaching strategic reforms, new partnerships and technological advancements at the institution which achieved significant production efficiency, waste reduction, cost savings, and new improved management style.

She has also championed a range of forward-looking initiatives focused on financial inclusion, digital banking transformation, regulatory reform, operational modernization and workforce development. Her efforts continue to position the Central Bank of Nigeria as an impact focused, high-performance organisation with strong emphasis on technology-driven service delivery and inclusive economic empowerment. Working with Governor Cardoso, Usoro’s vision and commitment to advancing the Bank’s mission of maintaining monetary and financial stability, while fostering institutional excellence, innovation and sustainable growth, recently led to the Central Bank of Nigeria being named the world’s “Central Bank of the Year” at the 2026 Central Banking Awards, London, in recognition of the sweeping monetary and structural reforms undertaken by the Bank that has stabilised the Nigerian economy and restored investor confidence after years of policy distortions.

Usoro is currently the only female member of the Committee of Governors in the Bank (and the first female from Akwa Ibom state). She serves on the CBN Board, including some of the Bank’s Board committees. She is also a member of the Monetary Policy Committee of the Central Bank of Nigeria- the highest policy-making body within the Bank responsible for formulating monetary/credit and financial system policies and setting key rates like the Monetary Policy Rate (MPR) to ensure price stability, manage inflation and support economic growth,

She joined the CBN with more than 23 years of outstanding professional experience in the financial services sector. Before her appointment as Deputy Governor in the CBN, she served as Executive Director, North, at one of Nigeria’s leading banks, where she earned widespread acclaim for her exceptional leadership across retail, commercial, public sector, corporate banking and advisory services. Her career reflects a consistent record of excellence in business development, financial advisory, strategic planning and the management of complex asset portfolios.

A Fellow of the Chartered Institute of Bankers of Nigeria (FCIB), she holds an MBA from Obafemi Awolowo University. She is also an alumna of Harvard Business School and Lagos Business School, where she completed distinguished executive programs including the Advanced Management Program and the General Management Program. She has also attended several executive programmes at world’s leading business schools including Columbia Business School, New York; National University of Singapore Business School, Singapore, etc., and has broadened her global leadership education at the Harvard Kennedy School, Massachusetts; the Wharton School of the University of Pennsylvania, United States of America; the University of Pretoria in South Africa, etc. Her intellectual depth, global exposure and disciplined leadership have equipped her with a refined understanding of institutional governance and transformative strategy.