Tunde Lemo
Tunde Lemo or Tunde O. Lemo[1] (born 1959[2]) is a Nigerian banker and former deputy governor of operations and director of the Central Bank of Nigeria.[1] As of 2018, he serves as chairman of the Federal Roads Maintenance Agency (FERMA).[3][2]
Early life and education
[edit]Lemo was born in 1959, and is a native of Ogun State.[2] His mother, Eunice Olufolake Lemo (11 November 1932 — 9 May 2018), was a school teacher.[4][5]
Lemo attended the University of Nigeria Nsukka, where he graduated with First Class Honours in Accounting in 1984, and in 1997, became a Fellow of the Institute of Chartered Accountants of Nigeria.[1][2] He is also a Fellow of the Chartered Institute of Bankers.[6]
Career
[edit]He started his career from Arthur Anderson & Co in 1985 and from 2000 to 2003, Lemo served as managing director of Wema Bank Plc, and in 2003, became the deputy governor of operations and director of the Central Bank of Nigeria—serving as its deputy governor of financial surveillance sector.[1][2][3]
On 2 January 2004 Lemo became the director and chairman of the Abuja Securities & Commodity Exchange Plc.[1]
He was a non-executive director of Africa Finance Corporation since 16 May 2007.[1]
On Friday 6 October 2017 President Muhammadu Buhari of Nigeria approved his appointment as the new chairman of the Federal Emergency Road Maintenance Agency (FERMA). He effectively became a chairman of the agency in July 2018 joined by six new members of the board and a new managing director.[2][3][7]
Today, as the former chairman of the boards of Titan Trust Bank and Flutterwave, he continues to lend his expertise as an active member of numerous other boards.[8]
On Monday 2 October 2021, Tunde blamed infrastructural decay as the reason why investors run away from Nigeria.
On Thursday 23 December 2021 Union Bank of Nigeria Plc, in a disclosure filed with the Nigerian Exchange Limited (NGX), announced that Tunde Lemo owned Titan Trust Bank Limited has reached an agreement with Union Global Partners Limited and other shareholders to acquire a combined 89.39 percent stake in Union Bank of Nigeria Plc.[9]
National honour
[edit]In 2011, Lemo was awarded the national honour of Officer of the Federal Republic (OFR) by the Federal Government of Nigeria in recognition of his contributions to the banking sector.[10]
Public policy contributions
[edit]During his tenure as Deputy Governor of the Central Bank of Nigeria from 2004 to 2014, Lemo played a central role in the banking sector consolidation that raised minimum capital requirements from ₦2 billion to ₦25 billion, contributing to the emergence of larger African and global banking players.[11] He also led the modernisation of Nigeria's payments system, the rapid deployment of electronic banking, the formulation of the Microfinance Policy and Supervisory Framework, and the restructuring of the Abuja Securities and Commodities Exchange and the Nigeria Export-Import Bank (NEXIM).[12]
In 2002, Lemo attended the University of Pennsylvania in the United States for an Advanced Management Program.[13]
Personal life
[edit]Lemo is married to Yemi Lemo, who serves as a pastor in the Foursquare Gospel Church. In January 2025, Lemo was installed as Zonal Superintendent in the Foursquare Church, with his wife appointed as Senior Pastor in the same denomination.[14] They have three children. His son Dapo studied economics at the University of Manchester.[15]
References
[edit]- 1 2 3 4 5 6 Bloomberg : Executive Profile and background of Tunde O. Lemo
- 1 2 3 4 5 6 8 Things You Probably Didn’t Know About The New FERMA Chairman, Tunde Lemo by Anuoluwapo Adeseun [in] Nigerian Monitor [dead link]
- 1 2 3 Daily Post (Nigeria) : Buhari appoints Tunde Lemo as FERMA chairman, by Senater Imenger, Published on 19 July 2018
- ↑ Punch : CBN ex-deputy governor, Tunde Lemo, loses mother (Published 21 May 2018)
- ↑ The Nation : Tunde Lemo loses mum (11 May 2018)
- ↑ Official website of Central Bank of Nigeria : Profile of Mr. Tunde Lemo (OFR) (retrieved 7 August 2018) C
- ↑ The Eagle : Senators Fight Over Buhari’s Composition Of FERMA Board (19 July 2018)
- ↑ "Dr Tunde Lemo".
- ↑ "Dr Tunde Lemo". 24 December 2021.
- ↑ "Dr Tunde Lemo". Society for Corporate Governance Nigeria. Retrieved 2026-06-30.
- ↑ "Tunde Lemo". Punch Nigeria. Retrieved 2026-06-30.
- ↑ "Babatunde Lemo". The Brook Finance Company. Retrieved 2026-06-30.
- ↑ "Biography of Tunde Lemo". 9ja Informed. Retrieved 2026-06-30.
- ↑ "Foursquare Church installs former CBN Deputy Governor Tunde Lemo as Zonal Superintendent". Boiling Point Nigeria. Retrieved 2026-06-30.
- ↑ "Dad did not spare the rod — Tunde Lemo's son". Punch Nigeria. Retrieved 2026-06-30.
