Senate Confirms Lamido Abubakar Yuguda as CBN Deputy Governor

On Wednesday, the Nigerian Senate confirmed Lamido Abubakar Yuguda as the Deputy Governor of the Central Bank of Nigeria (CBN). The confirmation followed a report submitted by the Senate Committee on Banking, Insurance, and Financial Institutions, chaired by Adetokunbo Abiru.

The committee highlighted Yuguda's suitability for the position due to his extensive knowledge and work experience in finance and monetary policy. During the screening exercise, which took place earlier, no petitions were raised against his appointment.

Senator Danjuma Goje moved the motion for confirmation, which was seconded by Senator Sarafadeen Alli. Senate President Godswill Akpabio characterized Yuguda's appointment as a "square peg in a square hole," affirming President Bola Tinubu's choice.

The Senate's approval reflects confidence in Yuguda's qualifications, as he has previously held significant roles, including Director General of the Securities and Exchange Commission (SEC).