The Senate on Wednesday confirmed the appointment of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), describing him as well-suited for the role.
The confirmation followed the adoption of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, presented by its Chairman, Tokunbo Abiru.
Abiru told lawmakers that Yuguda possesses the requisite experience and expertise for the position, in line with Section 8(1) of the CBN Act. He noted that the nominee demonstrated strong knowledge of financial and monetary policy during his screening and added that no petitions were received against his nomination.
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The motion for confirmation was seconded by Danjuma Goje, who commended Bola Tinubu for what he described as a sound choice.
Following a voice vote, the President of the Senate, Godswill Akpabio, announced the confirmation, which received overwhelming support from lawmakers. He described Yuguda as “a square peg in a square hole” and expressed appreciation to the President for the nomination.
Earlier, during the screening process, Yuguda was granted the privilege of “take a bow and go” by the committee.
Although Abiru had initially suggested that the nominee be questioned on monetary and fiscal policy issues, a motion by Osita Izunaso—seconded by Sarafadeen Alli—allowed the committee to dispense with further questioning.
Izunaso explained that Yuguda was already well known to members, having been screened on multiple occasions for key national roles, including as Director-General of the Securities and Exchange Commission and as a member of the CBN’s monetary control framework.
He added that his past interactions with Yuguda affirmed his competence and suitability for the role.
