[5] From March 20, 2002, to June 24, 2013 he was the Governor of the Central Bank of the Russian Federation and was replaced by Elvira Nabiullina.

His deputy in charge of bank supervision, Andrei Kozlov was shot dead on 14 September 2006 after he revealed an enormous illegal money laundering scheme.

On 20 February 2013, Ignatyev stated that $49 billion associated with illegal one day networks of shell companies, which were controlled by one group of people, with capital outflows from Russia, which were equivalent to 2.5% of Russia's gross domestic product (GDP), had occurred during 2012.

[6][7][8] In February 2022, Sergey Ignatyev left the supervisory board of Sberbank.

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