Senate confirms Yuguda as CBN deputy governor, commends Tinubu’s nomination
The Senate on Wednesday confirmed the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, with lawmakers describing him as well-suited for the role. The
The Senate on Wednesday confirmed the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, with lawmakers describing him as well-suited for the role.
The confirmation followed the Senate Committee on Banking, Insurance and Other Financial Institutions' adoption of a report.
Presenting the report, committee chairman Adetokunbo Abiru said the nominee was found to be qualified based on his experience, competence, and deep understanding of the financial sector. He noted that the recommendation aligned with Section 8(1) of the CBN Act.
Abiru added that Yuguda demonstrated strong financial and monetary expertise during his screening and disclosed that no petition was received against him.
“We found him suitable for the position by virtue of his knowledge, experience and impressive performance during screening,” he said.
Seconding the motion, Danjuma Goje commended President Bola Ahmed Tinubu for what he described as an appropriate nomination.
Following a voice vote, Senate President Godswill Akpabio confirmed the appointment, describing Yuguda as “a square peg in a square hole” and praising the president’s choice.
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Earlier, Yuguda had been granted the parliamentary privilege of “take a bow and go” during his appearance before the committee, following a motion moved by Osita Izunaso and seconded by Sharafadeen Alli, citing his prior engagements with the National Assembly, including his confirmation as Director-General of the Securities and Exchange Commission.
“Mr Chairman and distinguished colleagues, in line with our tradition, the nominee before us for the position of Deputy Governor of the Central Bank of Nigeria is well known to us, having screened him three different times in the past for some other very important positions like Director-General of SEC and member of the monetary control of CBN,” Izunaso said.
He added, “Personally, as Chairman of the Senate Committee on Capital Market, I had close interaction with Mr Yuguda as DG of SEC and found him eminently suitable for the position of Deputy Governor of CBN nominated by President Tinubu.”
