Moses Kpughur Tule

Moses Kpughur Tule (born December 26, 1962) is a Nigerian economist and business executive who serves as the Director of the Monetary policy at the Central Bank of Nigeria from 2012 to 2020.
==Early Life and education==
Tule was born on December 26, 1962, in Makurdi, Benue State, Nigeria. He attended N.K.S.T. Primary School in Makurdi, and graduated in 1975. He attended Padopads Harmony Secondary School, Makurdi, where he obtained his West African School Certificate (WASC) in 1980. Tule pursued higher education at the University of Sokoto (now Usmanu Danfodiyo University), completing Preliminary Studies in 1983 and earning a Bachelor of Science (B.Sc.) degree in Economics in 1986.
==Career==
Tule began his career as an Assistant Economist at the Central Bank of Nigeria (CBN) in 1989, working in the Research Department in Lagos. He later held roles as Senior Economist, Principal Economist, and Assistant Director in various CBN departments, including the Research Unit in Enugu and the External Sector Policy Group.
In 2012, Tule was appointed Director of the Monetary Policy Department at the CBN, a position he held until 2020. During this period, he contributed to the design and implementation of Nigeria's monetary policy and represented the country at international forums.
===Central Bank of Nigeria===
As Director of the Monetary Policy Department, Tule was involved in coordinating Nigeria’s monetary policy with global standards and analyzing macroeconomic aggregates. He contributed to drafting Nigeria’s Annual Monetary Policy Programme and interfaced with international financial institutions such as the IMF, World Bank, and ECOWAS. He also participated in ECOWAS’s Monetary Cooperation Programme (EMCP), focusing on the harmonization of monetary policies across West African nations.
Tule also prepared key financial reports, including the Monetary Policy Review and Inflation Reports, and authored various technical papers that impacted national and international economic policy.
===Post-Central Bank and Business Leadership===
After retiring from public service in 2020, Tule transitioned to the private sector, becoming MD/CEO of Imega Fertilizer Ltd., an agricultural fertilizer company based in Makurdi. In 2024, he took on the role of Managing Director of Roerich Global Ltd.
In 2023, Tule was appointed Chairman of Novus Microfinance Bank in Makurdi, a bank owned by the Benue State Government. He also participated in various committees, including the Benue State Transition Committee and the 1st 100 Days in Office Committee.
==Research and Publications==
Tule has published in the fields of economics, finance, and monetary policy. His contributions include 102 journal articles, 34 books and editorial contributions, over 50 monographs, periodicals, technical reports, and background papers. His work has been published in some of the world’s leading academic journals and has contributed to shaping monetary policy, not just in Nigeria but across the African continent. 
===Books and Editorial Contributions===
# Tule, Moses K., and Adebayo Oduyemi. The Monetary Policy of the Central Bank of Nigeria. Produced for the Monetary Policy Department of the Central Bank of Nigeria (CBN). A comprehensive handbook intended as a resource for new staff.
# Tule, Moses K., and Adebayo Oduyemi. An Authoritative Resource on Nigeria’s Monetary Policy Framework and its Historical Evolution. A detailed examination of Nigeria’s monetary policy.
# Tule, Moses K., Editor-in-Chief (2016). Understanding Monetary Policy and Financial Concepts. A widely referenced book offering insights into monetary policy and financial stability concepts.
# Tule, Moses K. History and Evolution of Monetary Policy in Nigeria (1959–2015). An in-depth exploration of Nigeria's monetary policy development over five decades.
# Tule, Moses K. Compendium of Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines (1958–2018). A compilation of key policy documents from the Central Bank of Nigeria spanning several decades.
# Tule, Moses K., Editor-in-Chief (2010–2015). Monetary Policy Review. A bi-annual publication reviewing macroeconomic trends in Nigeria and the impact of monetary policy decisions over seven editions.
===Selected Journal Articles===
#Tule, Moses K., Oduh, M. O. Chiemeke, C. C., and Ndukwe, O. C. (2018). An Assessment of the Severity of Unemployment in Nigeria: Evidence of Fractional Integration, Journal of African Business. Taylor & Francis Group.1-23.
#Tule, Moses K., Oduh, M., Chiemeke, C., Ndukwe, C., & Abdulsalam, S. A. (2017). Asymmetric Monetary Policy Effects and Unemployment Hysteresis in Nigeria.
#Tule, Moses K, Dogo, M. & Uzonwanne, G. (2017) “Volatility of Stock Market Returns & the Naira Exchange Rate”, Global Finance Journal, Vol. 35(2018):97-105.
#Tule, Moses K, D.E. Omoregie. (2017) “Application of Statistical and Mathematical Algorithms to Data Analytics and Job Creation in Nigeria”, Journal of Information and Knowledge Management Vol.7, No.12.
#Tule, Moses K., (2012). Macro-Prudential Regulation and Effective Monetary Policy
#Jokosenumi, O., Rewane, B. J., Kareem, W. D., Abba, M. A., Akinwunmi, O. A., Ofili, E. G., ... & Tule, Moses K., (2014). Publication of the Central Bank of Nigeria
#Osaka, G. C., N. C. Oputa, Tule Moses K., L. I. Odey and H. T. Sanni (2004), ‘The Impact of Regulatory Sanctions on Banks for Non-Compliance with Foreign Exchange Guidelines: A Case Study of 25 Banks in Nigeria’.
#Otu, M. F. and Tule Moses K., (2002) ‘Issues in Reserve Requirement and Monetary Management in Nigeria’ CBN Economic and Financial Review, Vol. 40, No. 3 September
#Tule, Moses K. (2010), ‘National Incomes Policy in a Deregulated Economy: The Nigerian Perspective’ Central Bank of Nigeria, Bullion Vol. 34 No. 1, March
==Professional Associations and International Engagements==
Dr. Tule has represented Nigeria in numerous international economic forums, including the IMF/World Bank Annual Meetings , the G-24 Technical Group, and ECOWAS summits. He has also participated in the Harvard Executive Course on Leading Economic Growth (2019) and attended the Annual Meetings of the Association of African Central Banks (AACB).
His active participation in international financial institutions has contributed to the formulation of regional financial stability policies in Africa. He is a Fellow of the Nigerian Economic Society (NES) and the Nigerian Statistical Association (NSA)​.
* Fellow, Nigerian Economic Society (NES)
* Fellow, Nigerian Statistical Association (NSA)
* Life Member, Nigerian Economic Society (NES)
* National Council Member, Nigerian Economic Society (2003-2005)
* Vice-President, Nigerian Economic Society (2017 - Present)
Category:1962 births
Category:Nigerian economists
Category:Business executives
Category:People from Makurdi
Category:Nigerian people