Until his retirement in 2014, he was the Deputy Governor of Operations and Director at The Central Bank of Nigeria and served as its Deputy Governor of Financial Surveillance Sector. Mr. Lemo is a former Managing Director of Wema Bank Plc from 2000 to 2003. Mr. Lemo has been Chairman of Abuja Securities & Commodity Exchange Plc since January 2, 2004 and serves as its Director. He has been a Non Executive Director of Africa Finance Corporation since May 16, 2007. He serves as a Director of The Central Bank of Nigeria.
Lemo played a key role for the implementation of the Banking Sector Consolidation under both administrations of Prof. Chukwuma Soludo and Sanusi Lamido Sanusi. He championed the restructuring of Abuja Securities and Commodities Exchange and Nigeria Import Bank, NEXIM as the chairman of both institutions. As the Vice Chairman, Technical Community for the establishment of Africa Finance Corporation (AFC), he participated actively in the establishment of the Pan- Africa Investment institution. Lemo was equally responsible for the transformation of the National Payments System for the widespread use of electronic payments and the transformation of the Nigeria Inter-Bank Settlement Systems (NIBSS), Plc.
A Fellow of the Institute of Chartered Accountants of Nigeria, in 1997 as well as fellow of the Chartered Institute of Bankers with significant leadership and top management experience in both the public and private sectors spanning over 26 years. He holds a Bachelor of Science degree in Accountancy (first class division) from the University of Nigeria, Nsukka in 1984 where he won seven academic laurels, including the Best overall graduating student in the Faculty.