Former CBN Deputy Governor Tunde Lemo Joins Ogun Governorship Race

By Awwal Owolabi

19 February 2026

Politics

Tunde Lemo, the former Deputy Governor of the Central Bank of Nigeria (CBN), has officially declared his interest in running for the Ogun State governorship seat in the 2027 general elections.

The renowned banker made his ambitions known on Wednesday while participating in the All Progressives Congress (APC) ward congresses at Ward 12, Ita-Agemo, Isale-Igbein in Abeokuta, the Ogun State capital.

Addressing party faithful, Lemo stated that his aspiration is driven by a strong desire to accelerate grassroots development, provide effective leadership, and unlock the state’s vast agricultural potential.

Lemo brings a formidable technocratic pedigree to the political arena, having served as the Deputy Governor of the CBN from 2003 to 2014.

During his over-a-decade tenure at the apex bank, he operated under former CBN Governors Chukwuma Soludo and Sanusi Lamido Sanusi, overseeing the Financial Sector Surveillance and Operations directorates.

He is widely recognized as one of the key architects of the 2005 banking sector consolidation exercise, a landmark reform that recapitalized and stabilized the Nigerian banking industry.

Beyond the banking consolidation, Lemo championed the modernization of Nigeria’s national payment system, laying the critical groundwork for the country’s transition to a cashless policy.

He also spearheaded the formulation and implementation of the microfinance framework to boost financial inclusion for small businesses.

Prior to his extensive public service at the central bank, he served as the Managing Director and Chief Executive Officer of Wema Bank. Pledging to run an inclusive administration if given the mandate, the former CBN chief reaffirmed his unwavering loyalty to the APC.

“I don’t want to canvass for a personal position here, but you all know who I am, and you know what I’ve been trying to do. But by the special grace of God, it is about governance.

“It’s about raising the bar and ensuring the best for our people, and that’s what we’re doing, and by the special grace of God, we will get there. Yes, of course, I have my eyes on 2027 just like everyone else, but everything is in the hands of God,” Lemo remarked.

Lemo commended the peaceful conduct of the ward congresses across the state, attributing the success to the transformative policies of President Bola Tinubu’s Renewed Hope Agenda.

He described the grassroots exercise as a crucial step toward strengthening party unity ahead of the higher-level congresses and national conventions.

He expressed his excitement over the loyalty of party members, noting that the massive crowd and peaceful atmosphere at the ward level indicated a strong and vibrant political family.

Furthermore, the former CBN Deputy Governor praised the incumbent governor of Ogun State, Dapo Abiodun, specifically highlighting the agro-cargo airport project.

Lemo noted that the project, which recently secured approval for commercial operations, represents a key milestone in the state’s economic progress and perfectly aligns with his own vision for agricultural transformation.