The Senate on Wednesday confirmed Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), applauding the nomination as a precise fit for the role.
Lawmakers described Yuguda as “a square peg in a square hole,” citing his extensive experience in financial regulation and monetary policy.
The confirmation followed the adoption of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, presented by its chairman, Senator Adetokunbo Abiru (Lagos East).
Abiru told the chamber that Yuguda met all statutory requirements under the CBN Act and demonstrated exceptional competence during screening. He added that no petitions were filed against the nominee.
Backing the recommendation, Senator Danjuma Goje (Gombe Central) said President Bola Tinubu had made a “sound and strategic choice.”
The Senate President, Godswill Akpabio, thereafter put the nomination to a voice vote, with lawmakers unanimously endorsing it.
Commending the appointment, Akpabio reiterated that Yuguda’s selection was both appropriate and timely, thanking President Tinubu for what he described as a well-considered decision.
Earlier, the nominee was accorded the traditional “take a bow and go” privilege during his screening, reflecting his familiarity and established track record with the Senate.
Although the committee initially considered engaging him on key monetary and fiscal issues, Senator Osita Izunaso (Imo West) moved a motion to waive questioning, noting that Yuguda had been previously vetted for top positions, including Director-General of the Securities and Exchange Commission (SEC).
The motion, seconded by Senator Sarafadeen Alli (Oyo South), was adopted without objection.
Senate Clears Yuguda as CBN Deputy Governor, Applauds Tinubu’s Choice
