Senate Confirms Lamido Yuguda as CBN Deputy Governor

On Wednesday, the Senate confirmed Lamido Yuguda as the Deputy Governor of the Central Bank of Nigeria (CBN). The confirmation followed a report from the Senate Committee on Banking, Insurance, and Financial Institutions, chaired by Adetokunbo Abiru, who noted Yuguda's extensive experience in the financial sector.

The committee found him eminently qualified for the role, citing his strong competence in monetary and financial matters. No petitions were filed against him, leading to a recommendation for his confirmation.

The motion to confirm was moved and seconded by Senators Danjuma Goje and Sarafadeen Alli, respectively. Senate President Godswill Akpabio announced the overwhelming support for the nomination, describing Yuguda as a "square peg in a square hole." The confirmation is part of President Bola Tinubu's efforts to strengthen the leadership of the CBN and reinforce confidence in Nigeria's monetary policy framework.

Yuguda has previously held significant positions, including Director General of the Securities and Exchange Commission.