By Anayo Akwitti
Nigeria’s Senate on Wednesday confirmed the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, endorsing him as a fitting choice for the critical monetary policy role.
The confirmation followed the presentation of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, which described Yuguda as highly qualified based on his extensive experience in financial regulation and monetary management.Nigeria’s Senate on Wednesday confirmed the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, endorsing him as a fitting choice for the critical monetary policy role.
The confirmation followed the presentation of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, which described Yuguda as highly qualified based on his extensive experience in financial regulation and monetary management.
Presenting the report, Committee Chairman Adetokunbo Abiru (Lagos East) said the nominee demonstrated “impressive depth of knowledge” during his screening and met all statutory requirements in line with the CBN Act.
He further noted that no petitions were filed against Yuguda, reinforcing the committee’s recommendation for his approval.
The motion for confirmation was seconded by Danjuma Goje (Gombe Central), who praised Bola Ahmed Tinubu for what he described as a well-considered nomination.
Following a voice vote presided over by Senate President Godswill Akpabio, lawmakers overwhelmingly approved the appointment. Akpabio subsequently described Yuguda as a “square peg in a square hole,” commending the President for selecting a candidate well-suited to the role.
Earlier in the day, Yuguda’s screening was notably brief, as he was granted the Senate’s traditional “take a bow and go” privilege.
The motion, moved by Osita Izunaso and seconded by Sarafadeen Alli, was based on his prior appearances before the committee and proven track record in public service.
Lawmakers cited Yuguda’s previous roles, including his leadership at the Securities and Exchange Commission (SEC) and contributions to monetary policy development, as evidence of his competence.
With the confirmation, Yuguda is expected to play a key role in shaping Nigeria’s monetary policy framework and strengthening financial sector stability at a critical time for the economy.
